Problema 1

i 0.14 i 0.14 i 0.14

(1+i) (1+i)-n (1+i) (1+i)-n (1+i) (1+i)-n
1 1.14 0.877193 2000 1754.3860 1 1.14 0.877193 3000 2631.5789 1 1.14 0.877193 5000 4385.9649
2 1.14 0.769468 2000 1538.9351 2 1.14 0.769468 3000 2308.4026 2 1.14 0.769468 5000 3847.3376
3 1.14 0.674972 2000 1349.9430 3 1.14 0.674972 3000 2024.9145 3 1.14 0.674972 5000 3374.8576
4 1.14 0.592080 2000 1184.1606 4 1.14 0.592080 3000 1776.2408 4 1.14 0.592080 5000 2960.4014
5 1.14 0.519369 2000 1038.7373 5 1.14 0.519369 3000 1558.1060 5 1.14 0.519369 5000 2596.8433
6 1.14 0.455587 2000 911.1731 6 1.14 0.455587 3000 1366.7596 6 1.14 0.455587 5000 2277.9327
7 1.14 0.399637 2000 799.2746 7 1.14 0.399637 3000 1198.9120 7 1.14 0.399637 5000 1998.1866
8 1.14 0.350559 2000 701.1181 8 1.14 0.350559 3000 1051.6772 8 1.14 0.350559 5000 1752.7953
9 1.14 0.307508 2000 615.0159 9 1.14 0.307508 3000 922.5238 9 1.14 0.307508 5000 1537.5397
10 1.14 0.269744 2000 539.4876 10 1.14 0.269744 3000 809.2314 10 1.14 0.269744 5000 1348.7190
11 1.14 0.236617 2000 473.2348 11 1.14 0.236617 3000 709.8521 11 1.14 0.236617 5000 1183.0869
12 1.14 0.207559 2000 415.1182 12 1.14 0.207559 3000 622.6773 12 1.14 0.207559 5000 1037.7955
13 1.14 0.182069 2000 364.1388 13 1.14 0.182069 3000 546.2082 13 1.14 0.182069 5000 910.3469
14 1.14 0.159710 2000 319.4200 14 1.14 0.159710 3000 479.1300 14 1.14 0.159710 5000 798.5499
15 1.14 0.140096 2000 280.1930 15 1.14 0.140096 3000 420.2894 15 1.14 0.140096 5000 700.4824
16 1.14 0.122892 2000 245.7833 16 1.14 0.122892 3000 368.6750 16 1.14 0.122892 5000 614.4583
17 1.14 0.107800 2000 215.5994 17 1.14 0.107800 3000 323.3991 17 1.14 0.107800 5000 538.9985
18 1.14 0.094561 2000 189.1223 18 1.14 0.094561 3000 283.6834 18 1.14 0.094561 5000 472.8057
19 1.14 0.082948 2000 165.8967 19 1.14 0.082948 3000 248.8451 19 1.14 0.082948 5000 414.7418
20 1.14 0.072762 2000 145.5234 20 1.14 0.072762 3000 218.2852 20 1.14 0.072762 5000 363.8086
13246.2611 19869.3917 33115.6528
-10000.0000 -25000.0000 -30000.0000
3246.2611 -5130.6083 3115.6528

R 2000
n 20
i 0.14
P 13246.2611
Feo o Io -10000

VAN 3246.2611

Problema 2

i 0.1 i 0.12 i 0.14

(1+i) (1+i)-n (1+i) (1+i)-n (1+i) (1+i)-n
1 1.1 0.909091 5000 4545.4545 1 1.12 0.892857 5000 4464.2857 1 1.14 0.877193 5000 4385.9649
2 1.1 0.826446 5000 4132.2314 2 1.12 0.797194 5000 3985.9694 2 1.14 0.769468 5000 3847.3376
3 1.1 0.751315 5000 3756.5740 3 1.12 0.711780 5000 3558.9012 3 1.14 0.674972 5000 3374.8576
4 1.1 0.683013 5000 3415.0673 4 1.12 0.635518 5000 3177.5904 4 1.14 0.592080 5000 2960.4014
5 1.1 0.620921 5000 3104.6066 5 1.12 0.567427 5000 2837.1343 5 1.14 0.519369 5000 2596.8433
6 1.1 0.564474 5000 2822.3697 6 1.12 0.506631 5000 2533.1556 6 1.14 0.455587 5000 2277.9327
7 1.1 0.513158 5000 2565.7906 7 1.12 0.452349 5000 2261.7461 7 1.14 0.399637 5000 1998.1866
8 1.1 0.466507 5000 2332.5369 8 1.12 0.403883 5000 2019.4161 8 1.14 0.350559 5000 1752.7953
26674.6310 24838.1988 23194.3195
-24000.0000 -24000.0000 -24000.0000
2674.6310 838.1988 -805.6805

Problema 3

i 0.14 i 0.14 i 0.14

(1+i) (1+i)-n (1+i) (1+i)-n (1+i) (1+i)-n
1 1.14 0.877193 4000 3508.7719 1 1.14 0.877193 100000 87719.2982 1 1.14 0.877193 20000 17543.8596
2 1.14 0.769468 4000 3077.8701 2 1.14 0.769468 120000 92336.1034 2 1.14 0.769468 19000 14619.8830
3 1.14 0.674972 4000 2699.8861 3 1.14 0.674972 140000 94496.0123 3 1.14 0.674972 18000 12149.4873
4 1.14 0.592080 4000 2368.3211 4 1.14 0.592080 160000 94732.8444 4 1.14 0.592080 17000 10065.3647
5 1.14 0.519369 4000 2077.4747 5 1.14 0.519369 180000 93486.3596 5 1.14 0.519369 16000 8309.8986
6 1.14 0.455587 4000 1822.3462 6 1.14 0.455587 200000 91117.3095 6 1.14 0.455587 15000 6833.7982
7 1.14 0.399637 4000 1598.5493 553887.9274 7 1.14 0.399637 14000 5594.9225
8 1.14 0.350559 4000 1402.2362 -500000.0000 8 1.14 0.350559 13000 4557.2677
 9 1.14 0.307508 4000 1230.0318 53,887.9274 9 1.14 0.307508 12000 3690.0953
10 1.14 0.269744 4000 1078.9752 10 1.14 0.269744 11000 2967.1819
20864.4626 86331.7590
-26000.0000 -170000.0000
-5,135.5374 -83668.2410

i 0.14 i 0.14
(1+i) (1+i)-n (1+i) (1+i)-n
1 1.14 0.877193 230000 201754.3860 1 1.14 0.877193 0 0.0000
2 1.14 0.769468 230000 176977.5315 2 1.14 0.769468 0 0.0000
3 1.14 0.674972 230000 155243.4487 3 1.14 0.674972 0 0.0000

4 1.14 0.592080 230000 136178.4638 4 1.14 0.592080 20000 11841.6055

5 1.14 0.519369 230000 119454.7928 5 1.14 0.519369 30000 15581.0599

6 1.14 0.455587 230000 104784.9060 6 1.14 0.455587 0 0.0000

7 1.14 0.399637 230000 91916.5842 7 1.14 0.399637 50000 19981.8661

8 1.14 0.350559 230000 80628.5826 8 1.14 0.350559 60000 21033.5433

1066938.6956 9 1.14 0.307508 70000 21525.5560

-950000.0000 89,963.6309
116,938.6956 -80000.0000
9,963.6309

Problema 4

i= 0.1 i= 0.12 i= 0.16 i= 0.17 i= 0.16324142

Proy. A Proy. A Proy. A Proy. A Proy. A
0 -13000 0 -13000 0 -13000 0 -13000 0 -13000
1 4000 1 4000 1 4000 1 4000 1 4000
2 4000 2 4000 2 4000 2 4000 2 4000
3 4000 3 4000 3 4000 3 4000 3 4000
4 4000 4 4000 4 4000 4 4000 4 4000
5 4000 5 4000 5 4000 5 4000 5 4000

15,163.15 14,419.10 13,097.17 12,797.38 12,998.75

-13000 -13000 -13000 -13000 -13000
VAN 2,163.15 VAN 1,419.10 VAN 97.17 VAN (202.62) VAN (1.25)

97.17 0.00324142
TIR 16.32% 299.79 TIR 0.163241423

Problema 5

i 0.15 i 0.15
(1+i) (1+i)-n (1+i) (1+i)-n
1 1.15 0.869565 18000 15652.1739 1 1.15 0.869565 12000 10434.7826
2 1.15 0.756144 18000 13610.5860 2 1.15 0.756144 14000 10586.0113
3 1.15 0.657516 18000 11835.2922 3 1.15 0.657516 16000 10520.2597
4 1.15 0.571753 18000 10291.5584 4 1.15 0.571753 18000 10291.5584
5 1.15 0.497177 18000 8949.1812 5 1.15 0.497177 20000 9943.5347
6 1.15 0.432328 18000 7781.8967 6 1.15 0.432328 25000 10808.1899
7 1.15 0.375937 18000 6766.8667 62584.3367
8 1.15 0.326902 18000 5884.2319 -60000.0000
2584.3367
80771.7871
-85000.0000
-4228.2129

i 0.15
(1+i) (1+i)-n
1 1.15 0.869565 50000 43478.2609
2 1.15 0.756144 30000 22684.3100
3 1.15 0.657516 20000 13150.3246
4 1.15 0.571753 20000 11435.0649
5 1.15 0.497177 20000 9943.5347
6 1.15 0.432328 30000 12969.8279
7 1.15 0.375937 40000 15037.4816
8 1.15 0.326902 50000 16345.0887
145043.8933
-130000.0000
15043.8933
Problema 6

i= 0.16 0.16 0.16

Proy. A Proy. B Proy. C
0 -40000 0 -40000 0 -40000
1 13000 1 7000 1 19000
2 13000 2 10000 2 16000
3 13000 3 13000 3 13000
4 13000 4 16000 4 10000
5 13000 5 19000 5 7000

42,565.82 39,677.47 45,454.17

-40000 -40000 -40000
VAN 2,565.82 VAN (322.53) VAN 5,454.17

i= 0.2 0.16 0.16

Proy. A Proy. B Proy. C
0 -90000 0 -40000 0 -40000
1 20000 1 7000 1 19000
2 25000 2 10000 2 16000
3 30000 3 13000 3 13000
4 35000 4 16000 4 10000
5 40000 5 19000 5 7000

84,342.85 39,677.47 45,454.17

-90000 -40000 -40000 5,657.15
VAN (5,657.15) VAN (322.53) VAN 5,454.17 11,575.9702057613
-2.44348858247137
17.5565114175286
Problema 7

Proy. A Proy. B Proy. C Proy. D

0 -90000
1 20000
2 25000
3 30000
4 35000
5 40000
0 -490000 0 -20000 0 -240000
1 150000 1 7500 1 120000
2 150000 2 7500 2 100000
3 150000 3 7500 3 80000
4 150000 4 7500 4 60000
5 0 5 7500 5 0

TIR 17.43% TIR 8.62% TIR 25.41% TIR 21.16%

VAN 0.17 VAN 0.09 VAN 0.25

0.05 S/. 37,774.12

0.1 S/. 20,124.74
0.15 S/. 5,918.82 S/. 5,657.15
0.2 S/. -5,657.15 S/. 11,575.97
17.43% S/. 0.00 S/. 0.49
-2.443489425
17.556510575

Problema 8

Proy. A
0 -500000
1 100000
2 120000
3 150000
4 190000
5 250000

TIR 15.67%

i= 0.05 i= 10.00% i= 0.15 i= 0.16

Proy. A
0 -500000
1 100000
2 120000
3 150000
4 190000
5 250000
Proy. A Proy. A Proy. A
0 -500000 0 -500000 0 -500000
1 100000 1 100000 1 100000
2 120000 2 120000 2 120000
3 150000 3 150000 3 150000
4 190000 4 190000 4 190000
5 250000 5 250000 5 250000

685,852.28 587,782.75 509,248.50 495,448.66

 -500000 -500000 -500000 -500000
VAN 185,852.28 VAN 87,782.75 VAN 9,248.50 VAN (4,551.34)

9,248.50 0.006701888
13,799.84 15.6702%

Proy. B
0 -325000
1 140000
2 120000
3 950000
4 70000
5 50000

TIR 70.89%

i= 5.00% i= 30.00% i= 70.00% i= 75.00%

Proy. A Proy. A Proy. A Proy. A
0 -325000 0 -325000 0 -325000 0 -325000
1 140000 1 140000 1 140000 1 140000
2 120000 2 120000 2 120000 2 120000
3 950000 3 950000 3 950000 3 950000
4 70000 4 70000 4 70000 4 70000
5 50000 5 50000 5 50000 5 50000

1,159,588.07 649,081.45 329,142.58 306,953.06

-325000 -325000 -325000 -325000
VAN 834,588.07 VAN 324,081.45 VAN 4,142.58 VAN (18,046.94)

4,142.58 0.009334545
22,189.53 70.9335%

Problema 9

Proy. A
0 -61450
1 10000
2 10000
3 10000
4 10000
5 10000
6 10000
7 10000
8 10000
9 10000
10 10000
18.22990155

TIR 9.99836%

P 61450 S. 61,445.67
i 0.15
R 10000
n 18.2299015473237

P 61450
i 0.15
n 10
R 12,244.04

Problema 10

Proy. A
0 -18250
1 4000
2 4000
3 4000
4 4000
5 4000
6 4000
7 4000

TIR 12.01%

i 0.1
VAN 1,223.68
Problema 11

i 0.12
(1+i) (1+i)-n
1 1.12 0.892857 20000 17857.1429
2 1.12 0.797194 25000 19929.8469
3 1.12 0.711780 30000 21353.4074
4 1.12 0.635518 35000 22243.1327
5 1.12 0.567427 40000 22697.0742
104080.6042
-95000.0000
9080.6042

0 -95000
1 20000
2 25000
3 30000
4 35000
5 40000

104,080.60
-95000
VAN 9,080.60

TIR 15.36%

Problema 12

i 0.12 i 0.12
(1+i) (1+i)-n (1+i) (1+i)-n
1 1.12 0.892857 25000 22321.4286 1 1.12 0.892857 40000 35714.2857
2 1.12 0.797194 35000 27901.7857 2 1.12 0.797194 35000 27901.7857
3 1.12 0.711780 45000 32030.1112 3 1.12 0.711780 30000 21353.4074
4 1.12 0.635518 50000 31775.9039 4 1.12 0.635518 10000 6355.1808
5 1.12 0.567427 55000 31208.4771 5 1.12 0.567427 5000 2837.1343
145237.7064 94161.7939
-130000.0000 -85000.0000
15237.7064 9161.7939

0 -130000 0 -85000 -45000

1 25000 1 40000 -15000
2 35000 2 35000 0
3 45000 3 30000 15000
4 50000 4 10000 40000
5 55000 5 5000 50000

145,237.71 94,161.79
-130000 -85000
VAN 15,237.71 VAN 9,161.79

TIR 16.06% TIR 17.75% TIR 14.78%

 1% 73,119.02 32,399.16
2% 66,562.68 29,893.37 80,000.00
3% 60,311.91 27,477.97
4% 54,348.97 25,148.57 70,000.00
5% 48,657.31 22,901.05
60,000.00
6% 43,221.53 20,731.53
7% 38,027.25 18,636.35 50,000.00
8% 33,061.03 16,612.08
9% 28,310.32 14,655.46 40,000.00
10% 23,763.40 12,763.44 Column
11% 19,409.29 10,933.13 30,000.00 B
12% 15,237.71 9,161.79
13% 11,239.02 7,446.86 20,000.00
14% 7,404.20 5,785.87
15% 3,724.77 4,176.54 10,000.00
16% 192.79 2,616.67
0.00
17% (3,199.21) 1,104.18
0% 5% 10% 15% 20% 25%
18% (6,458.26) (362.88) (10,000.00)
19% (9,590.96) (1,786.38)
20% (12,603.52) (3,168.08) (20,000.00)
14.78% 4,530.14 4,530.14
16.06% 0.00 2,531.09
17.75% (5,655.00) 0.00

Problema 13

i= 0.13
Proy. A Proy. B Proy. C
0 -60000 0 -100000 0 -110000
1 20000 1 31500 1 32500
2 20000 2 31500 2 32500
3 20000 3 31500 3 32500
4 20000 4 31500 4 32500
5 20000 5 31500 5 32500

70,344.63 110,792.78 114,310.02

-60000 -100000 -110000
VAN 10,344.63 VAN 10,792.78 VAN 4,310.02

TIR 19.86% TIR 17.34% TIR 14.59%

Proy. A Proy. B Proy. C

1% 37,068.62 52,883.08 47,736.52
2% 34,269.19 48,473.97 43,187.43 60,000.00
3% 31,594.14 44,260.78 38,840.48
4% 29,036.45 40,232.40 34,684.23 50,000.00

40,000.00

30,000.00
Column
B
20,000.00 Column
C
10,000.00
 60,000.00

50,000.00
5% 26,589.53 36,378.52 30,707.99
6% 24,247.28 32,689.46 26,901.82
7% 22,003.95 29,156.22 23,256.42 40,000.00
8% 19,854.20 25,770.37 19,763.08
9% 17,793.03 22,524.01 16,413.67 30,000.00
10% 15,815.74 19,409.78 13,200.57 Column
11% 13,917.94 16,420.76 10,116.65 B
20,000.00
12% 12,095.52 13,550.45 7,155.23 Column
13% 10,344.63 10,792.78 4,310.02 C
14% 8,661.62 8,142.05 1,575.13 10,000.00
15% 7,043.10 5,592.89 (1,054.96)
16% 5,485.87 3,140.25 (3,585.46) 0.00
17% 3,986.92 779.40 (6,021.25) 0% 5% 10% 15% 20% 25%
18% 2,543.42 (1,494.11) (8,366.94)
19% 1,152.70 (3,684.50) (10,626.87) (10,000.00)
20% (187.76) (5,795.72) (12,805.11)
19.86% 0.00 (5,500.00) (12,500.00) (20,000.00)
17.34% 3,492.06 0.00 (6,825.40)
14.59% 7,692.31 6,615.38 0.00
13.46% 9,565.22 9,565.22 3,043.48
7.93% 20,000.00 26,000.00 20,000.00
-19.40% 140,000.00 215,000.00 215,000.00

Proy. A Proy. B
0 -60000 -100000 40000
1 20000 31500 -11500
2 20000 31500 -11500
3 20000 31500 -11500
4 20000 31500 -11500
5 20000 31500 -11500

TIR 13.46%

Proy. A Proy. C
0 -60000 -110000 50000
1 20000 32500 -12500
2 20000 32500 -12500
3 20000 32500 -12500
4 20000 32500 -12500
5 20000 32500 -12500

TIR 7.93%

Proy. B Proy. C
0 -100000 -110000 10000
1 31500 32500 -1000
2 31500 32500 -1000
3 31500 32500 -1000
4 31500 32500 -1000
5 31500 32500 -1000

TIR -19.40%
i= 0.13
Proy. A Proy. B A-B B-A
0 -60000 0 -100000 40000 -40000
1 20000 1 31500 -11500 11500
2 20000 2 31500 -11500 11500
3 20000 3 31500 -11500 11500
4 20000 4 31500 -11500 11500
5 20000 5 31500 -11500 11500

VAN 10,344.63 10,792.78

TIR 19.8577% 17.3386% 13.4582% 13.4582%

 Proy. C
0 -110000
1 32500
2 32500
3 32500
4 32500
5 32500

4,310.02

14.5942%
 Proy. A Proy. B
0 -500000 0 -325000
1 100000 1 140000
2 120000 2 120000
3 150000 3 95000
4 190000 4 70000
5 250000 5 50000

15.6656% 17.2867%

445,569.70 14,821.98

0 -1000
1 300
2 400
3 450
4 500

TIR 21.4113%

VAN 448.60
 0 -1000 1000= 300/(1+TIR)1 + 400/(1+TIR)2+450/(1+TIR)3+500/(1+
1 300
2 400
3 450 0 -1000
4 500 1 300
2 400
TIR 21.4113% 3 450
4 500

TIR 21.41%

me voy a inventra un dato que es la tasa de rendimiento requerida

T R Req 15.00%

TIR es mayor que 15% por lo tanto la oportunidad de inversion debe llevarse a cabo

0 -500
 1 150
2 200
3 250
4 300

TIR 24.8883%
R)2+450/(1+TIR)3+500/(1+TIR)4

endimiento requerida

idad de inversion debe llevarse a cabo

i 0.05
(1+i) (1+i)-n
1 1.05 0.952381 300 285.7143
2 1.05 0.907029 350 317.4603
3 1.05 0.863838 350 302.3432
4 1.05 0.822702 400 329.0810

1234.5988
-1000.0000
234.5988

i 0.1
(1+i) (1+i)-n
1 1.1 0.909091 300 272.7273
2 1.1 0.826446 350 289.2562
3 1.1 0.751315 350 262.9602
4 1.1 0.683013 400 273.2054

1098.1490
-1000.0000
98.1490

i 0.15
(1+i) (1+i)-n
1 1.15 0.869565 300 260.8696
2 1.15 0.756144 350 264.6503
3 1.15 0.657516 350 230.1307
4 1.15 0.571753 400 228.7013

984.3518
-1000.0000
-15.6482

0.029563
 1.029563
1.33822539
1.21899442
0.11923097
0.009563
12.4679467
49871.7868
 -15.6482
-113.7972
0.13750928
0.6875464
14.3124536
 FE acumulado
0 -1000 -1000
1 300 -700
2 400 -300 negativo
3 450 150 positivo
4 500 650

P/R 2 mas 300

P/R 2.66667
me voy a invertar un dato
Los inversionista aceptan una oportunidad de inversion si su P/R es menor que 3

P/R Calculado es menor que 3, por lo tanto acepto la oportunidad de inversion

 lo divido entre 450

on si su P/R es menor que 3

a oportunidad de inversion
P

1.05001575
la tasa i = 5% es un dato
FE efectivo FE acumulado
descontado
0 -1000 1.05 -1000.00 -1000.00

1 300 1.05 285.71 -714.29

2 400 1.05 362.81 -351.47 negativo
3 450 1.05 388.73 37.25 positivo
4 500 1.05 411.35 448.60

P/R 2 mas 351.47 dividido entre 388.73

P/R 2.90417

me voy a invertar un dato

Los inversionista aceptan una oportunidad de inversion si su P/R es menor que 3

P/R Calculado es menor que 3, por lo tanto acepto la oportunidad de inversion