i= tanto efectivo

jm= tanto nominal

12.68%
12%

im= tanto fraccionado

1%

n= numero de perdos ao

12

i
n
jm
im

12.68%

12.00%
1.00%

12.00%
12
11.39%
0.95%

FUNCIONES RELACIONAR NOMINAL Y EFECTIVO

jm= tanto nominal

12%

im= tanto fraccionado

1%

n= numero de perdos ao

12

12.68%

CALCULO DEL NOMINAL EN FUNCION DEL EFECTIVO CON LOS 2 CRITERIOS

m
i
im
12
8.00%

jm
0.64%

7.72%

CON FORMULAS FINANCIERAS

12
12

12.68%
6.17%

1.00%

12.00%
6.00%

12
12

12.68%
6.17%

1.00%
0.00%

12.00%

con formulas excel

i
jm

0.11997756
12.68%

im= tanto fraccionado

1%

n= numero de perdos ao

12

CAPITALIZACION SIMPLE ( NO EXISTEN FORMULAS EN EXCEL HAY QUE HACERLAS)

SUPUESTO 1
Co=
i=
n=
Cn
I=

SUPUESTO 4
Co=
i=
n=
Cn
I=

SUPUESTO 7
Co=
i=
n=
Cn
dc

datos
18000.00
6.00%
1.00
19080
1080.00

datos
320000.00
13.06%
3.50
466250.00
146250.00

datos
169583.33
50.00%
0.17
185000.00
15416.67

SUPUESTO 2
Co=
i=
n=
Cn
I=
ip
SUPUESTO 5
Co=
i=
n=
Cn
I=

SUPUESTO 8
Co=
i=
n=
Cn
dc

SUPUESTO 3
853242.321
12.00%
1

Co=
i=
n=
Cn
I=

500000.00
58.60%
datos

SUPUESTO 6 datos

2300.00
9.00%
0.75
2455.25

datos
20000.00
66.00%
0.25
23952.10
3952.10

250000.00
17.60%
0.50
272000.00
22000.00

Co=
i=
n=
Cn
I=

5000.00
9.70%
243.00
5322.89
322.89

SUPUESTO 9 datos
Co=
i=
n=
Cn
dc

2520.00
66.00%
0.22
2950.00
430.00

capitalizacion compuesta
SUPUESTO 10
Co=
i
jm
im
m
n
Cn
I

SUPUESTO 14
Co=
i
jm
im
m
n
Cn
I

20000.00
20.00%

5.00
49766.40

35000.00
9.00%

5.55
56455.00

SUPUESTO 11
Co=
i
jm
im
m
n
Cn
I

SUPUESTO 15
Co=
i
jm
im
m
n
Cn
I

1000.00
8.00%

3.00
1259.71

-77.22
9.00%

3.00
100.00

SUPUESTO 12
Co=
i
jm
im
m
n
Cn

SUPUESTO 15
Co=
i
jm
im
m
n
Cn
FLUJOS

formula VNA

-3756.57
10.00%

3.00
5000.00

1938.92
15.00%

500
700
700
900

SUPUESTO 13
Co=
i
jm
im
m
n
Cn
I

25000.00
8.01%

3.00
31500.00
6500.00

EQUIVALENCIA FINANCIERAS SIMPLE Y COMPUESTA

tasas de descuento d=
PERIODO
t1
t2
t3

CAPTALES
C1
C2
C3

Cs(1-ts*d)

tn
suma

1-t*d= denominador
Calcular

SUPUESTO 2
d=i

10%
capitales

C
t1=

0.008333333

periodo
300 t1
600

900

8%

0.006666667

3 meses

SUPUESTO 3
d=i
periodos

capitales
3
7

500
700
1200

5
C

SUPUESTO 4
d=i

2%
periodos

0.01
capitales

3
5
8
11

100000
50000
60000
10000
220000
C

t
C

6
221914.8936 capital

FUNCION SUMA PRODUCTO

1
2
3
4
5

1140000 FUNCION SUMA PRODUCTO AL SUPUESTO 4.

6
7
8
9
10

SUPUESTO 1 (SUPUESTO 2 EQUIVALENCIA C SIMPLE

d=i

8%

periodo

capitales
30
45
60

150.00
300.00
450.00
900.00

900.81

t=

C*t

Cs*ts

C*t-Cs*t
3600

4500

Cs*(1-ts*d)
490
667.3333333
1157.333333

900

1-t*d

0.966666667

1197.241379 capital

0.000222222
(Cs/(1+ts*d)
C/(Cs/(1+ts*d)-1
149.0066225
297.029703
444.0789474
890.1152729
0.012014991

Cs*(1-ts*d)

1-t*d
97000
47500
55200
8900
208600

130

0.94

(C/(Cs/(1+ts*d)-1)))

54.06746027

EQUIVALENCIA CAPITALES CAPITALIZACION COMPUESTA

SUPUESTO 1
d=i

5%
periodos

0.05

Cs(1+i)-ns
(1+i)-n
capitales
2
30000
27210.88435
3
40000
34553.50394
4
60000
49362.14849
130000
111126.5368 0.78352617

141828.75 capital

SUPUESTO2
d=i

4%
periodos

0.04

Cs(1+i)-ns
capitales
(1+i)
3
3000000
2666989.076
4
5000000
4274020.955
5
7000000
5753489.747
15000000
12694499.78

1.04

7.44618109 AOS

C=

17000000

SUPUESTO 3
d=i

4.50
periodos

0.045

Cs(1+i)-ns
capitales
(1+i)
3
100000
87629.66041
4
200000
167712.2687
5
300000
240735.314
600000
496077.2431

4.32102378 AOS

1.045

C=

17000000

RENTAS

Pospabble

SUPUESTO 1
DATOS
AOS
MESES
TRMINO RENTA POSPAGABLE
TANTO DE INTERS
TANTO DE INTERS

30.00
360.00
1000.00
5% ANUAL
0.00407412 MENSUAL

PERIODO

TRMINO
0
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41

1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00

VALOR DESCONTADO
995.9424074
991.9012788
987.8765474
983.8681468
979.8760106
975.9000729
971.940268
967.9965303
964.0687947
960.1569962
956.2610703
952.3809524
948.5165784
944.6678845
940.8348071
937.0172827
933.2152482
929.4286409
925.6573981
921.9014574
918.1607569
914.4352345
910.7248288
907.0294785
903.3491223
899.6836996
896.0331496
892.3974121
888.7764269
885.1701342
881.5784744
878.001388
874.438816
870.8906995
867.3569798
863.8375985
860.3324974
856.8416186
853.3649044
849.9022972
846.4537399

VALOR CAPITALIZADO
4304.405694
4286.940169
4269.545512
4252.221435
4234.967653
4217.783879
4200.66983
4183.625223
4166.649776
4149.743209
4132.905241
4116.135595
4099.433994
4082.800161
4066.233821
4049.7347
4033.302526
4016.937028
4000.637934
3984.404975
3968.237882
3952.136389
3936.10023
3920.129138
3904.222851
3888.381105
3872.603639
3856.890191
3841.240501
3825.654312
3810.131365
3794.671404
3779.274174
3763.939418
3748.666886
3733.456322
3718.307477
3703.2201
3688.193942
3673.228753
3658.324287

42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
83
84
85
86
87
88
89
90
91

1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00

843.0191754
839.598547
836.1917981
832.7988724
829.4197138
826.0542665
822.7024748
819.3642833
816.0396368
812.7284804
809.4307592
806.1464189
802.8754052
799.6176638
796.3731411
793.1417833
789.923537
786.7183491
783.5261665
780.3469365
777.1806065
774.0271241
770.8864374
767.7584942
764.643243
761.5406322
758.4506105
755.3731269
752.3081305
749.2555705
746.2153966
743.1875585
740.1720062
737.1686897
734.1775594
731.1985659
728.23166
725.2767926
722.3339148
719.402978
716.4839338
713.5767338
710.6813301
707.7976748
704.9257201
702.0654187
699.2167232
696.3795866
693.5539619
690.7398025

3643.480297
3628.696538
3613.972766
3599.308737
3584.704208
3570.158939
3555.672688
3541.245217
3526.876286
3512.565659
3498.313098
3484.118369
3469.981236
3455.901465
3441.878825
3427.913083
3414.004008
3400.15137
3386.354941
3372.614492
3358.929796
3345.300627
3331.72676
3318.20797
3304.744034
3291.334729
3277.979833
3264.679126
3251.432388
3238.2394
3225.099944
3212.013802
3198.980758
3186.000597
3173.073105
3160.198067
3147.37527
3134.604504
3121.885555
3109.218216
3096.602275
3084.037524
3071.523756
3059.060764
3046.648341
3034.286283
3021.974386
3009.712445
2997.500257
2985.337622

92
93
94
95
96
97
98
99
100
101
102
103
104
105
106
107
108
109
110
111
112
113
114
115
116
117
118
119
120
121
122
123
124
125
126
127
128
129
130
131
132
133
134
135
136
137
138
139
140
141

1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00

687.9370617
685.1456934
682.3656512
679.5968894
676.839362
674.0930236
671.3578287
668.6337321
665.9206888
663.2186539
660.5275828
657.8474309
655.178154
652.519708
649.8720488
647.2351327
644.6089162
641.9933558
639.3884083
636.7940306
634.2101798
631.6368133
629.0738884
626.5213628
623.9791943
621.4473409
618.9257607
616.4144121
613.9132535
611.4222436
608.9413412
606.4705053
604.0096951
601.5588698
599.1179889
596.6870122
594.2658993
591.8546104
589.4531055
587.0613449
584.6792891
582.3068987
579.9441345
577.5909575
575.2473286
572.9132093
570.5885609
568.2733449
565.9675232
563.6710575

2973.224338
2961.160205
2949.145023
2937.178594
2925.26072
2913.391204
2901.569849
2889.79646
2878.070843
2866.392804
2854.76215
2843.178688
2831.642227
2820.152576
2808.709546
2797.312947
2785.96259
2774.658289
2763.399856
2752.187105
2741.019851
2729.897909
2718.821095
2707.789227
2696.802121
2685.859597
2674.961472
2664.107568
2653.297705
2642.531704
2631.809387
2621.130576
2610.495096
2599.90277
2589.353424
2578.846883
2568.382972
2557.961521
2547.582355
2537.245303
2526.950195
2516.696861
2506.48513
2496.314835
2486.185806
2476.097877
2466.05088
2456.04465
2446.079021
2436.153829

142
143
144
145
146
147
148
149
150
151
152
153
154
155
156
157
158
159
160
161
162
163
164
165
166
167
168
169
170
171
172
173
174
175
176
177
178
179
180
181
182
183
184
185
186
187
188
189
190
191

1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00

561.38391
559.1060427
556.8374182
554.5779988
552.3277472
550.0866261
547.8545987
545.6316279
543.417677
541.2127094
539.0166887
536.8295786
534.6513428
532.4819455
530.3213506
528.1695226
526.0264259
523.8920249
521.7662845
519.6491694
517.5406448
515.4406757
513.3492274
511.2662653
509.1917551
507.1256624
505.067953
503.018593
500.9775484
498.9447856
496.9202709
494.9039709
492.8958522
490.8958816
488.9040261
486.9202527
484.9445286
482.9768213
481.0170981
479.0653266
477.1214747
475.1855101
473.2574009
471.3371151
469.4246211
467.5198872
465.622882
463.733574
461.851932
459.977925

2426.268909
2416.424098
2406.619234
2396.854153
2387.128695
2377.4427
2367.796006
2358.188454
2348.619886
2339.090143
2329.599068
2320.146504
2310.732295
2301.356284
2292.018318
2282.718241
2273.4559
2264.231142
2255.043815
2245.893766
2236.780844
2227.704898
2218.665779
2209.663337
2200.697423
2191.76789
2182.874588
2174.017372
2165.196096
2156.410612
2147.660776
2138.946443
2130.26747
2121.623712
2113.015028
2104.441273
2095.902308
2087.39799
2078.928179
2070.492736
2062.09152
2053.724392
2045.391215
2037.091851
2028.826162
2020.594012
2012.395264
2004.229784
1996.097436
1987.998086

192
193
194
195
196
197
198
199
200
201
202
203
204
205
206
207
208
209
210
211
212
213
214
215
216
217
218
219
220
221
222
223
224
225
226
227
228
229
230
231
232
233
234
235
236
237
238
239
240
241

1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00

458.111522
456.252692
454.4014045
452.5576287
450.7213342
448.8924906
447.0710677
445.2570355
443.4503638
441.6510228
439.8589829
438.0742143
436.2966876
434.5263734
432.7632424
431.0072654
429.2584135
427.5166577
425.7819693
424.0543195
422.3336798
420.6200218
418.913317
417.2135375
415.5206549
413.8346413
412.1554689
410.4831099
408.8175367
407.1587216
405.5066374
403.8612566
402.2225522
400.5904969
398.9650639
397.3462261
395.733957
394.1282298
392.529018
390.9362952
389.3500349
387.7702111
386.1967975
384.6297682
383.0690973
381.514759
379.9667275
378.4249773
376.8894829
375.3602189

1979.931599
1971.897844
1963.896685
1955.927993
1947.991634
1940.087477
1932.215392
1924.375249
1916.566918
1908.790271
1901.045177
1893.33151
1885.649142
1877.997946
1870.377796
1862.788564
1855.230127
1847.702359
1840.205136
1832.738333
1825.301827
1817.895496
1810.519216
1803.172867
1795.856326
1788.569473
1781.312186
1774.084347
1766.885835
1759.716532
1752.57632
1745.465079
1738.382693
1731.329044
1724.304016
1717.307492
1710.339358
1703.399498
1696.487796
1689.60414
1682.748415
1675.920507
1669.120304
1662.347694
1655.602564
1648.884803
1642.194301
1635.530945
1628.894627
1622.285236

242
243
244
245
246
247
248
249
250
251
252
253
254
255
256
257
258
259
260
261
262
263
264
265
266
267
268
269
270
271
272
273
274
275
276
277
278
279
280
281
282
283
284
285
286
287
288
289
290
291

1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00

373.83716
372.3202811
370.8095571
369.3049629
367.8064738
366.314065
364.8277117
363.3473895
361.8730738
360.4047403
358.9423646
357.4859227
356.0353905
354.5907439
353.1519591
351.7190123
350.2918798
348.8705381
347.4549636
346.0451328
344.6410227
343.2426098
341.8498711
340.4627836
339.0813243
337.7054704
336.3351992
334.9704879
333.6113141
332.2576553
330.9094891
329.5667932
328.2295454
326.8977236
325.5713058
324.2502701
322.9345945
321.6242575
320.3192373
319.0195123
317.7250611
316.4358622
315.1518944
313.8731364
312.599567
311.3311653
310.0679103
308.809781
307.5567567
306.3088167

1615.702663
1609.1468
1602.617538
1596.114769
1589.638385
1583.18828
1576.764347
1570.36648
1563.994572
1557.648519
1551.328216
1545.033558
1538.764441
1532.520762
1526.302417
1520.109303
1513.941319
1507.798362
1501.68033
1495.587123
1489.51864
1483.47478
1477.455444
1471.460531
1465.489944
1459.543583
1453.621349
1447.723146
1441.848875
1435.99844
1430.171743
1424.368689
1418.589181
1412.833124
1407.100423
1401.390982
1395.704709
1390.041507
1384.401285
1378.783949
1373.189405
1367.617562
1362.068327
1356.541608
1351.037315
1345.555356
1340.095641
1334.658078
1329.24258
1323.849055

292
293
294
295
296
297
298
299
300
301
302
303
304
305
306
307
308
309
310
311
312
313
314
315
316
317
318
319
320
321
322
323
324
325
326
327
328
329
330
331
332
333
334
335
336
337
338
339
340
341

1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00

305.0659403
303.828107
302.5952963
301.3674878
300.1446613
298.9267965
297.7138734
296.5058717
295.3027717
294.1045533
292.9111969
291.7226825
290.5389907
289.3601019
288.1859964
287.0166551
285.8520584
284.6921872
283.5370223
282.3865445
281.240735
280.0995746
278.9630446
277.8311262
276.7038007
275.5810494
274.4628538
273.3491953
272.2400556
271.1354164
270.0352593
268.9395662
267.848319
266.7614996
265.6790901
264.6010726
263.5274292
262.4581423
261.3931941
260.3325669
259.2762434
258.2242061
257.1764374
256.1329202
255.0936371
254.0585711
253.0277049
252.0010215
250.978504
249.9601355

1318.477414
1313.12757
1307.799433
1302.492916
1297.20793
1291.944389
1286.702205
1281.481292
1276.281563
1271.102932
1265.945314
1260.808624
1255.692776
1250.597686
1245.52327
1240.469444
1235.436124
1230.423228
1225.430671
1220.458373
1215.50625
1210.574221
1205.662204
1200.770118
1195.897882
1191.045415
1186.212638
1181.39947
1176.605833
1171.831645
1167.07683
1162.341308
1157.625
1152.927829
1148.249718
1143.590588
1138.950363
1134.328967
1129.726322
1125.142353
1120.576983
1116.030138
1111.501743
1106.991721
1102.5
1098.026504
1093.57116
1089.133894
1084.714632
1080.313302

342
343
344
345
346
347
348
349
350
351
352
353
354
355
356
357
358
359
360

1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
360,000.00

248.9458991
247.935778
246.9297557
245.9278153
244.9299404
243.9361145
242.9463211
241.9605439
240.9787666
240.0009729
239.0271467
238.0572719
237.0913325
236.1293124
235.1711959
234.2169669
233.2666099
232.320109
231.3774487
188659.597

1075.92983
1071.564145
1067.216175
1062.885846
1058.573088
1054.27783
1050
1045.739528
1041.496343
1037.270375
1033.061554
1028.869811
1024.695077
1020.537281
1016.396357
1012.272234
1008.164846
1004.074124
1000
815375.907

pospagable

MTODO 1
MTODO 2

prepagable

VALOR ACTUAL
VALOR FINAL
VALOR ACTUAL
VALOR FINAL
188,659.60
815375.907
-189,428.22 818,697.85
-188,659.60
815,375.91
189,428.22 -818,697.85

Rojo:
sale negativo por considerar desembolso, para ello se cambia signo al 1000 se pone -1000 y nos da positivo
Valor final sale positivo porque he puesto -1000

o se le puede cambiar
mbiar
se segno
de signo si se quiere.

000 se pone -1000 y nos da positivo

mbiar de signo si se quiere.

RENTA PREPAGABLE

SUPUESTO
DATOS
AOS
5.00
MESES
60.00
TRMINO RENTA PREPAGABLE
1000.00
PRIMER TANTO DE INTERS 2 PRIMEROS AOS
6%
TANTO DE INTERS
0.00486755
AOS
2.00
SEGUNDO TIP
5%
TANTO DE INTERS
0.00407412
AOS
3

ANUAL
MENSUAL
ANUAL
MESUAL

Para poner los aos se pone uno debajo ao cero y la funcion ENTERO PARA PONER AO EN QU
Utilar la fun SI para diferenciar los tipos de inters

Valor capitalizado no sale de forma individualizada hacerlo de dos formas distintas:

1 ir acumulando: mover cada uno de los terminos al siguiente momento y
sumarle el factor

NOTA : NOS DA SU SOLUCIN.

AO

MES
TIPO MENSUAL
0
0
1
1
1
2
1
3
1
4
1
5
1
6
1
7
1
8
1
9
1
10
1
11
1
12
2
13
2
14
2
15
2
16
2
17
2
18
2
19
2
20
2
21
2
22
2
23
2
24
3
25
3
26
3
27
3
28
3
29
on ENTERO PARA PONER AO EN QUE PERTENECE
3
EL30
MES
3
31
3
32
3
33
3
34
3
35
3
36

FACTOR
0.004867551
0.004867551
0.004867551
0.004867551
0.004867551
0.004867551
0.004867551
0.004867551
0.004867551
0.004867551
0.004867551
0.004867551
0.004867551
0.004867551
0.004867551
0.004867551
0.004867551
0.004867551
0.004867551
0.004867551
0.004867551
0.004867551
0.004867551
0.004867551
0.004074124
0.004074124
0.004074124
0.004074124
0.004074124
0.004074124
0.004074124
0.004074124
0.004074124
0.004074124
0.004074124
0.004074124

1.0049
1.0049
1.0049
1.0049
1.0049
1.0049
1.0049
1.0049
1.0049
1.0049
1.0049
1.0049
1.0049
1.0049
1.0049
1.0049
1.0049
1.0049
1.0049
1.0049
1.0049
1.0049
1.0049
1.0049
1.0041
1.0041
1.0041
1.0041
1.0041
1.0041
1.0041
1.0041
1.0041
1.0041
1.0041
1.0041

TERMINO
1000.00
1000.00
1000.00
1000.00
1000.00
1000.00
1000.00
1000.00
1000.00
1000.00
1000.00
1000.00
1000.00
1000.00
1000.00
1000.00
1000.00
1000.00
1000.00
1000.00
1000.00
1000.00
1000.00
1000.00
1000.00
1000.00
1000.00
1000.00
1000.00
1000.00
1000.00
1000.00
1000.00
1000.00
1000.00
1000.00
1000.00

de dos formas distintas:

nte momento y

4
4
4
4
4
4
4
4
4
4
4
4
5
5
5
5
5
5
5
5
5
5
5
5

37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60

0.004074124
0.004074124
0.004074124
0.004074124
0.004074124
0.004074124
0.004074124
0.004074124
0.004074124
0.004074124
0.004074124
0.004074124
0.004074124
0.004074124
0.004074124
0.004074124
0.004074124
0.004074124
0.004074124
0.004074124
0.004074124
0.004074124
0.004074124
0.004074124

1.0041
1.0041
1.0041
1.0041
1.0041
1.0041
1.0041
1.0041
1.0041
1.0041
1.0041
1.0041
1.0041
1.0041
1.0041
1.0041
1.0041
1.0041
1.0041
1.0041
1.0041
1.0041
1.0041

1000.00
1000.00
1000.00
1000.00
1000.00
1000.00
1000.00
1000.00
1000.00
1000.00
1000.00
1000.00
1000.00
1000.00
1000.00
1000.00
1000.00
1000.00
1000.00
1000.00
1000.00
1000.00
1000.00

VALORA CAPITALIZADO
METODO 1
METODO2
METODO3

VALOR FINAL
68,385.17

SUPUESTO 3
n
VA

2.00
1.00

VF

1.21

Solucion

1,21=1(1+i)2

10% hecho en tanto por ciento.

SUPUESTO 4
i
n
termino pospagable
Valor actual
i12

0.05558745
10.00
500.00
4900.00
0.4518%

SUPUESTO 7
AO
PRIMER TERMINO
RAZON
AOS
i
VA
VF

1000
1.03
10
6%

PARA LAS RENTAS NO CONSTANTES NO VALE LA

FUNCION VA Y VF HAY QUE UTILIZAR LA FUNCION
VNA
Valor actual es actualizar, y el final capitalizar no hay formula

TRMINO
0
1
2
3
4
5
6
7
8
9
10

1000.00
1030.00
1060.90
1092.73
1125.51
1159.27
1194.05
1229.87
1266.77
1304.77

VA

VF

943.40
916.70
890.75
865.54
841.05
817.24
794.11
771.64
749.80
728.58

VA

1689.478959
1641.663517
1595.201342
1550.054134
1506.184677
1463.556809
1422.13539
1381.886275
1342.776286
1304.773184

VF

8,318.80

14,897.71

PRSTAMOS
SUPESTO 1 P.FRANCES
PRINCIPAL
DURACION
TIPO DE INTERS
TERMINO AMORTIZATIVO ANUAL

100000.00
10.00
5%

AO

ANUALIDAD
0
1
2
3
4
5
6
7
8
9
10

12950.4575
12950.4575
12950.4575
12950.4575
12950.4575
12950.4575
12950.4575
12950.4575
12950.4575
12950.4575

SUPESTO 4 P.FRANCES
PRINCIPAL
DURACION
TIPO DE INTERS
TERMINO AMORTIZATIVO ANUAL
i12
nxm

100000.00
10.00
5%
0.004074124
120

MESEs

ANUALIDAD
0
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16

1055.235338
1055.235338
1055.235338
1055.235338
1055.235338
1055.235338
1055.235338
1055.235338
1055.235338
1055.235338
1055.235338
1055.235338
1055.235338
1055.235338
1055.235338
1055.235338

17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66

1055.235338
1055.235338
1055.235338
1055.235338
1055.235338
1055.235338
1055.235338
1055.235338
1055.235338
1055.235338
1055.235338
1055.235338
1055.235338
1055.235338
1055.235338
1055.235338
1055.235338
1055.235338
1055.235338
1055.235338
1055.235338
1055.235338
1055.235338
1055.235338
1055.235338
1055.235338
1055.235338
1055.235338
1055.235338
1055.235338
1055.235338
1055.235338
1055.235338
1055.235338
1055.235338
1055.235338
1055.235338
1055.235338
1055.235338
1055.235338
1055.235338
1055.235338
1055.235338
1055.235338
1055.235338
1055.235338
1055.235338
1055.235338
1055.235338
1055.235338

67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
83
84
85
86
87
88
89
90
91
92
93
94
95
96
97
98
99
100
101
102
103
104
105
106
107
108
109
110
111
112
113
114
115
116

1055.235338
1055.235338
1055.235338
1055.235338
1055.235338
1055.235338
1055.235338
1055.235338
1055.235338
1055.235338
1055.235338
1055.235338
1055.235338
1055.235338
1055.235338
1055.235338
1055.235338
1055.235338
1055.235338
1055.235338
1055.235338
1055.235338
1055.235338
1055.235338
1055.235338
1055.235338
1055.235338
1055.235338
1055.235338
1055.235338
1055.235338
1055.235338
1055.235338
1055.235338
1055.235338
1055.235338
1055.235338
1055.235338
1055.235338
1055.235338
1055.235338
1055.235338
1055.235338
1055.235338
1055.235338
1055.235338
1055.235338
1055.235338
1055.235338
1055.235338

117
118
119
120

1055.235338
1055.235338
1055.235338
1055.235338
126628.2405

solucion ejercio 1 de otra forma con funciones PAGO,PAGO INT, PAGO PRINC Y PAGO.PRINC.ENTRE
SUPESTO 1 P.FRANCES
PRINCIPAL
DURACION
TIPO DE INTERS
TERMINO AMORTIZATIVO ANUAL

100000.00
10.00
5%

Se puede hacer una mezcla de los dos sistemas y no utilizar la formula pago.prin.entre. Que es ms complica

SUPESTO 4 P.FRANCES
PRINCIPAL
DURACION
TIPO DE INTERS
TERMINO AMORTIZATIVO ANUAL
i12
nxm

100000.00
10.00
5%
0.004074124
120

MESEs

ANUALIDAD
0
1
2
3
4
5
6

1,055.24
1,055.24
1,055.24
1,055.24
1,055.24
1,055.24

7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56

1,055.24
1,055.24
1,055.24
1,055.24
1,055.24
1,055.24
1,055.24
1,055.24
1,055.24
1,055.24
1,055.24
1,055.24
1,055.24
1,055.24
1,055.24
1,055.24
1,055.24
1,055.24
1,055.24
1,055.24
1,055.24
1,055.24
1,055.24
1,055.24
1,055.24
1,055.24
1,055.24
1,055.24
1,055.24
1,055.24
1,055.24
1,055.24
1,055.24
1,055.24
1,055.24
1,055.24
1,055.24
1,055.24
1,055.24
1,055.24
1,055.24
1,055.24
1,055.24
1,055.24
1,055.24
1,055.24
1,055.24
1,055.24
1,055.24
1,055.24

57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
83
84
85
86
87
88
89
90
91
92
93
94
95
96
97
98
99
100
101
102
103
104
105
106

1,055.24
1,055.24
1,055.24
1,055.24
1,055.24
1,055.24
1,055.24
1,055.24
1,055.24
1,055.24
1,055.24
1,055.24
1,055.24
1,055.24
1,055.24
1,055.24
1,055.24
1,055.24
1,055.24
1,055.24
1,055.24
1,055.24
1,055.24
1,055.24
1,055.24
1,055.24
1,055.24
1,055.24
1,055.24
1,055.24
1,055.24
1,055.24
1,055.24
1,055.24
1,055.24
1,055.24
1,055.24
1,055.24
1,055.24
1,055.24
1,055.24
1,055.24
1,055.24
1,055.24
1,055.24
1,055.24
1,055.24
1,055.24
1,055.24
1,055.24

107
108
109
110
111
112
113
114
115
116
117
118
119
120

1,055.24
1,055.24
1,055.24
1,055.24
1,055.24
1,055.24
1,055.24
1,055.24
1,055.24
1,055.24
1,055.24
1,055.24
1,055.24
1,055.24

SUPUESTO 2 PRESTAMO AMERICANO

PRINCIPAL
DURACION
TIPO DE INTERS
TERMINO AMORTIZATIVO ANUAL

100000.00
10.00
5%

AO

ANUALIDAD
0
1
2
3
4
5
6
7
8
9
10

5000
5000
5000
5000
5000
5000
5000
5000
5000
105000

En este supuesto no hace falta disear frmulas porque es ms complicado que hacerlo.

PRESTAMO ITALIANO O CUOTA DE AMORTIZACION CONSTANTE. EL DATO DE PARTIDA ES LA COLUMNA DE AMORTIZACIN. DESP
EJERCICIO 3

SISTEMA ITALIANO

PRINCIPAL
DURACION

100000.00
10.00

TIPO DE INTERS
TERMINO AMORTIZATIVO ANUAL

5%

AO

ANUALIDAD
0
1
2
3
4
5
6
7
8
9
10

15000
14500
14000
13500
13000
12500
12000
11500
11000
10500

PRESTAMO ALEMAN

SUPUESTO 12

PRESTAMO ALEMAN
PRINCIPAL
DURACION
TIPO DE INTERS POSPAGABLE
i* TIPO INTERES PREPAGABLE

100000.00
4.00
25%
20%

Se caracteriza porque el primer perido e

Se calcula a partir del ao 0 como uno fr

AO
0
1
2
3
4

SUPUESTO 7

ANUALIDAD
20000
33,875.34
33,875.34
33,875.34
33,875.34

PRESTAMO FRANCES CON AMORTIZACION DE 5000 EN EL PERIODO 6

PRINCIPAL
DURACION
TIPO DE INTERS

100000.00
10.00
5%

AO
0
1
2
3
4
5
6
7
8
9
10

SUPUESTO 5

PRESTAMO CON INTERES VARIABLE

PRINCIPAL
DURACION
TIPO DE INTERS
DIFERENCIAL DEL EURIBOR

TABLA DE INTERES

100000.00
10.00
5% MS EL EURIBOR
0.50%

AO
1
2
3
4
5
6
7
8
9
10

EURIBOR
E+0,05
T. MENSUAL
2.00%
2.50%
0.002059836
2.20%
2.70%
0.002222627
2.40%
2.90%
0.002385128
2.60%
3.10%
0.002547339
2.80%
3.30%
0.002709263
3.00%
3.50%
0.002870899
3.20%
3.70%
0.003032249
3.40%
3.90%
0.003193314
3.60%
4.10%
0.003354095
3.80%
4.30%
0.003514593

NO SE PUEDE HACER EN EL ORDENADOR POR NO TENER LA FUNCION BUCAR V, ESTA EN E

EN EL ARCHIVO ADJUNTO

SUPUESTO NMERO 9

PRINCIPAL
DURACION
TIPO DE INTERS

100000.00
10.00
2% VARIABLE AOS SUCESIVOS

EJERCICIO DE PRESTAMO CON UN TIPO DE INTERES VARIABLE EN FUNCIN DEL EURIBOR

MESES

AO
0
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15

T MENSUAL
0
1
1
1
1
1
1
1
1
1
1
1
1
2
2
2

0
0.2060%
0.2060%
0.2060%
0.2060%
0.2060%
0.2060%
0.2060%
0.2060%
0.2060%
0.2060%
0.2060%
0.2060%
0.2223%
0.2223%
0.2223%

Mensualidad

16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65

2
2
2
2
2
2
2
2
2
3
3
3
3
3
3
3
3
3
3
3
3
4
4
4
4
4
4
4
4
4
4
4
4
5
5
5
5
5
5
5
5
5
5
5
5
6
6
6
6
6

0.2223%
0.2223%
0.2223%
0.2223%
0.2223%
0.2223%
0.2223%
0.2223%
0.2223%
0.2385%
0.2385%
0.2385%
0.2385%
0.2385%
0.2385%
0.2385%
0.2385%
0.2385%
0.2385%
0.2385%
0.2385%
0.2547%
0.2547%
0.2547%
0.2547%
0.2547%
0.2547%
0.2547%
0.2547%
0.2547%
0.2547%
0.2547%
0.2547%
0.2709%
0.2709%
0.2709%
0.2709%
0.2709%
0.2709%
0.2709%
0.2709%
0.2709%
0.2709%
0.2709%
0.2709%
0.2871%
0.2871%
0.2871%
0.2871%
0.2871%

66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
83
84
85
86
87
88
89
90
91
92
93
94
95
96
97
98
99
100
101
102
103
104
105
106
107
108
109
110
111
112
113
114
115

6
6
6
6
6
6
6
7
7
7
7
7
7
7
7
7
7
7
7
8
8
8
8
8
8
8
8
8
8
8
8
9
9
9
9
9
9
9
9
9
9
9
9
10
10
10
10
10
10
10

0.2871%
0.2871%
0.2871%
0.2871%
0.2871%
0.2871%
0.2871%
0.3032%
0.3032%
0.3032%
0.3032%
0.3032%
0.3032%
0.3032%
0.3032%
0.3032%
0.3032%
0.3032%
0.3032%
0.3193%
0.3193%
0.3193%
0.3193%
0.3193%
0.3193%
0.3193%
0.3193%
0.3193%
0.3193%
0.3193%
0.3193%
0.3354%
0.3354%
0.3354%
0.3354%
0.3354%
0.3354%
0.3354%
0.3354%
0.3354%
0.3354%
0.3354%
0.3354%
0.3515%
0.3515%
0.3515%
0.3515%
0.3515%
0.3515%
0.3515%

116
117
118
119
120

10
10
10
10
10

0.3515%
0.3515%
0.3515%
0.3515%
0.3515%

INTERESES
5000
4602.477125
4185.078107
3746.809137
3286.626719
2803.43518
2296.084064
1763.365393
1204.010788
616.6884522

INTERESES
407.4123784
404.7730674
402.1230036
399.4621431
396.790442
394.107856
391.4143408
388.7098518
385.9943445
383.2677739
380.5300948
377.7812621
375.0212304
372.2499539
369.4673869
366.6734834

AMORTIZACIN
7950.457497
8347.980371
8765.37939
9203.648359
9663.830777
10147.02232
10654.37343
11187.0921
11746.44671
12333.76904

AMORTIZACIN
647.8229596
650.4622705
653.1123343
655.7731948
658.4448959
661.127482
663.8209972
666.5254861
669.2409934
671.9675641
674.7052431
677.4540758
680.2141075
682.985384
685.767951
688.5618545

CAPITAL VIVO
CAP. AMORTIZADO
100000.00
92049.54
7950.46
83701.56
16298.44
74936.18
25063.82
65732.53
34267.47
56068.70
43931.30
45921.68
54078.32
35267.31
64732.69
24080.22
75919.78
12333.77
87666.23
0.00
100000.00

CAPITAL VIVO
CAP. AMORTIZADO
100000.00
99352.18
647.82
98701.71
1298.29
98048.60
1951.40
97392.83
2607.17
96734.38
3265.62
96073.26
3926.74
95409.44
4590.56
94742.91
5257.09
94073.67
5926.33
93401.70
6598.30
92727.00
7273.00
92049.54
7950.46
91369.33
8630.67
90686.34
9313.66
90000.58
9999.42
89312.01
10687.99

363.8681972
361.0514819
358.2232909
355.3835775
352.5322948
349.6693957
346.7948327
343.9085584
341.010525
338.1006847
335.1789894
332.2453907
329.2998401
326.3422891
323.3726885
320.3909895
317.3971427
314.3910985
311.3728074
308.3422194
305.2992844
302.2439521
299.1761719
296.0958933
293.0030652
289.8976366
286.7795561
283.6487721
280.5052329
277.3488866
274.1796809
270.9975635
267.8024817
264.5943828
261.3732136
258.1389211
254.8914516
251.6307515
248.356767
245.0694438
241.7687277
238.454564
235.126898
231.7856747
228.4308389
225.062335
221.6801074
218.2841002
214.8742573
211.4505222

691.3671407
694.1838561
697.012047
699.8517604
702.7030431
705.5659423
708.4405052
711.3267796
714.2248129
717.1346532
720.0563485
722.9899472
725.9354978
728.8930489
731.8626494
734.8443484
737.8381952
740.8442394
743.8625305
746.8931185
749.9360536
752.9913859
756.059166
759.1394446
762.2322727
765.3377013
768.4557818
771.5865658
774.730105
777.8864513
781.055657
784.2377745
787.4328562
790.6409552
793.8621243
797.0964168
800.3438863
803.6045864
806.8785709
810.1658941
813.4666102
816.7807739
820.1084399
823.4496632
826.804499
830.1730029
833.5552305
836.9512377
840.3610806
843.7848157

88620.65
87926.46
87229.45
86529.60
85826.90
85121.33
84412.89
83701.56
82987.34
82270.20
81550.15
80827.16
80101.22
79372.33
78640.47
77905.62
77167.78
76426.94
75683.08
74936.18
74186.25
73433.26
72677.20
71918.06
71155.82
70390.49
69622.03
68850.44
68075.71
67297.83
66516.77
65732.53
64945.10
64154.46
63360.60
62563.50
61763.16
60959.55
60152.67
59342.51
58529.04
57712.26
56892.15
56068.70
55241.90
54411.73
53578.17
52741.22
51900.86
51057.07

11379.35
12073.54
12770.55
13470.40
14173.10
14878.67
15587.11
16298.44
17012.66
17729.80
18449.85
19172.84
19898.78
20627.67
21359.53
22094.38
22832.22
23573.06
24316.92
25063.82
25813.75
26566.74
27322.80
28081.94
28844.18
29609.51
30377.97
31149.56
31924.29
32702.17
33483.23
34267.47
35054.90
35845.54
36639.40
37436.50
38236.84
39040.45
39847.33
40657.49
41470.96
42287.74
43107.85
43931.30
44758.10
45588.27
46421.83
47258.78
48099.14
48942.93

208.0128384
204.5611491
201.0953972
197.6155253
194.121476
190.6131916
187.0906139
183.5536849
180.0023459
176.4365384
172.8562033
169.2612814
165.6517135
162.0274397
158.3884001
154.7345347
151.0657829
147.3820843
143.6833777
139.9696022
136.2406963
132.4965984
128.7372465
124.9625786
121.1725322
117.3670448
113.5460532
109.7094945
105.8573052
101.9894216
98.10577972
94.20631542
90.29096422
86.3596614
82.41234196
78.44894066
74.46939196
70.4736301
66.461589
62.43320235
58.38840356
54.32712576
50.24930181
46.15486429
42.04374554
37.91587757
33.77119216
29.60962079
25.43109467
21.23554471

847.2224995
850.6741888
854.1399408
857.6198126
861.1138619
864.6221463
868.144724
871.6816531
875.232992
878.7987996
882.3791347
885.9740565
889.5836244
893.2078982
896.8469378
900.5008032
904.169555
907.8532537
911.5519602
915.2657357
918.9946416
922.7387395
926.4980914
930.2727593
934.0628057
937.8682932
941.6892847
945.5258434
949.3780327
953.2459163
957.1295582
961.0290225
964.9443737
968.8756765
972.822996
976.7863973
980.765946
984.7617078
988.7737489
992.8021356
996.8469344
1000.908212
1004.986036
1009.080474
1013.191592
1017.31946
1021.464146
1025.625717
1029.804243
1033.999793

50209.85
49359.18
48505.04
47647.42
46786.30
45921.68
45053.54
44181.85
43306.62
42427.82
41545.44
40659.47
39769.89
38876.68
37979.83
37079.33
36175.16
35267.31
34355.76
33440.49
32521.50
31598.76
30672.26
29741.99
28807.92
27870.05
26928.37
25982.84
25033.46
24080.22
23123.09
22162.06
21197.11
20228.24
19255.41
18278.63
17297.86
16313.10
15324.33
14331.52
13334.68
12333.77
11328.78
10319.70
9306.51
8289.19
7267.73
6242.10
5212.30
4178.30

49790.15
50640.82
51494.96
52352.58
53213.70
54078.32
54946.46
55818.15
56693.38
57572.18
58454.56
59340.53
60230.11
61123.32
62020.17
62920.67
63824.84
64732.69
65644.24
66559.51
67478.50
68401.24
69327.74
70258.01
71192.08
72129.95
73071.63
74017.16
74966.54
75919.78
76876.91
77837.94
78802.89
79771.76
80744.59
81721.37
82702.14
83686.90
84675.67
85668.48
86665.32
87666.23
88671.22
89680.30
90693.49
91710.81
92732.27
93757.90
94787.70
95821.70

17.02290156
12.79309558
8.546056844
4.28171515
26628.24055

AO

1038.212436
1042.442242
1046.689281
1050.953623
100000

ANUALIDAD
0
1
2
3
4
5
6
7
8
9
10

12,950.46
12,950.46
12,950.46
12,950.46
12,950.46
12,950.46
12,950.46
12,950.46
12,950.46
12,950.46

3140.09
2097.64
1050.95
0.00

INTERESES
5,000.00
4,602.48
4,185.08
3,746.81
3,286.63
2,803.44
2,296.08
1,763.37
1,204.01
616.69

96859.91
97902.36
98949.05
100000.00

AMORTIZACIN
7,950.46
8,347.98
8,765.38
9,203.65
9,663.83
10,147.02
10,654.37
11,187.09
11,746.45
12,333.77

mula pago.prin.entre. Que es ms complicado.

INTERESES
407.41
404.77
402.12
399.46
396.79
394.11

AMORTIZACIN
647.82
650.46
653.11
655.77
658.44
661.13

CAPITAL VIVO
CAP. AMORTIZADO
100000.00
99,352.18
647.8229596
98,701.71
1298.28523
98,048.60
1951.397564
97,392.83
2607.170759
96,734.38
3265.615655
96,073.26
3926.743137

CAPITAL VIVO
100000.00
92,049.54
83,701.56
74,936.18
65,732.53
56,068.70
45,921.68
35,267.31
24,080.22
12,333.77
0.00

391.41
388.71
385.99
383.27
380.53
377.78
375.02
372.25
369.47
366.67
363.87
361.05
358.22
355.38
352.53
349.67
346.79
343.91
341.01
338.10
335.18
332.25
329.30
326.34
323.37
320.39
317.40
314.39
311.37
308.34
305.30
302.24
299.18
296.10
293.00
289.90
286.78
283.65
280.51
277.35
274.18
271.00
267.80
264.59
261.37
258.14
254.89
251.63
248.36
245.07

663.82
666.53
669.24
671.97
674.71
677.45
680.21
682.99
685.77
688.56
691.37
694.18
697.01
699.85
702.70
705.57
708.44
711.33
714.22
717.13
720.06
722.99
725.94
728.89
731.86
734.84
737.84
740.84
743.86
746.89
749.94
752.99
756.06
759.14
762.23
765.34
768.46
771.59
774.73
777.89
781.06
784.24
787.43
790.64
793.86
797.10
800.34
803.60
806.88
810.17

95,409.44
94,742.91
94,073.67
93,401.70
92,727.00
92,049.54
91,369.33
90,686.34
90,000.58
89,312.01
88,620.65
87,926.46
87,229.45
86,529.60
85,826.90
85,121.33
84,412.89
83,701.56
82,987.34
82,270.20
81,550.15
80,827.16
80,101.22
79,372.33
78,640.47
77,905.62
77,167.78
76,426.94
75,683.08
74,936.18
74,186.25
73,433.26
72,677.20
71,918.06
71,155.82
70,390.49
69,622.03
68,850.44
68,075.71
67,297.83
66,516.77
65,732.53
64,945.10
64,154.46
63,360.60
62,563.50
61,763.16
60,959.55
60,152.67
59,342.51

4590.564134
5257.08962
5926.330614
6598.298178
7273.003421
7950.457497
8630.671604
9313.656988
9999.424939
10687.98679
11379.35393
12073.53779
12770.54984
13470.4016
14173.10464
14878.67058
15587.11109
16298.43787
17012.66268
17729.79733
18449.85368
19172.84363
19898.77913
20627.67218
21359.53483
22094.37917
22832.21737
23573.06161
24316.92414
25063.81726
25813.75331
26566.7447
27322.80386
28081.94331
28844.17558
29609.51328
30377.96906
31149.55563
31924.28573
32702.17219
33483.22784
34267.46562
35054.89847
35845.53943
36639.40155
37436.49797
38236.84186
39040.44644
39847.32501
40657.49091

241.77
238.45
235.13
231.79
228.43
225.06
221.68
218.28
214.87
211.45
208.01
204.56
201.10
197.62
194.12
190.61
187.09
183.55
180.00
176.44
172.86
169.26
165.65
162.03
158.39
154.73
151.07
147.38
143.68
139.97
136.24
132.50
128.74
124.96
121.17
117.37
113.55
109.71
105.86
101.99
98.11
94.21
90.29
86.36
82.41
78.45
74.47
70.47
66.46
62.43

813.47
816.78
820.11
823.45
826.80
830.17
833.56
836.95
840.36
843.78
847.22
850.67
854.14
857.62
861.11
864.62
868.14
871.68
875.23
878.80
882.38
885.97
889.58
893.21
896.85
900.50
904.17
907.85
911.55
915.27
918.99
922.74
926.50
930.27
934.06
937.87
941.69
945.53
949.38
953.25
957.13
961.03
964.94
968.88
972.82
976.79
980.77
984.76
988.77
992.80

58,529.04
57,712.26
56,892.15
56,068.70
55,241.90
54,411.73
53,578.17
52,741.22
51,900.86
51,057.07
50,209.85
49,359.18
48,505.04
47,647.42
46,786.30
45,921.68
45,053.54
44,181.85
43,306.62
42,427.82
41,545.44
40,659.47
39,769.89
38,876.68
37,979.83
37,079.33
36,175.16
35,267.31
34,355.76
33,440.49
32,521.50
31,598.76
30,672.26
29,741.99
28,807.92
27,870.05
26,928.37
25,982.84
25,033.46
24,080.22
23,123.09
22,162.06
21,197.11
20,228.24
19,255.41
18,278.63
17,297.86
16,313.10
15,324.33
14,331.52

41470.95752
42287.73829
43107.84673
43931.29639
44758.10089
45588.2739
46421.82913
47258.78036
48099.14145
48942.92626
49790.14876
50640.82295
51494.96289
52352.5827
53213.69656
54078.31871
54946.46343
55818.14509
56693.37808
57572.17688
58454.55601
59340.53007
60230.1137
61123.32159
62020.16853
62920.66933
63824.83889
64732.69214
65644.2441
66559.50984
67478.50448
68401.24322
69327.74131
70258.01407
71192.07688
72129.94517
73071.63445
74017.1603
74966.53833
75919.78425
76876.9138
77837.94283
78802.8872
79771.76288
80744.58587
81721.37227
82702.13822
83686.89992
84675.67367
85668.47581

58.39
54.33
50.25
46.15
42.04
37.92
33.77
29.61
25.43
21.24
17.02
12.79
8.55
4.28

INTERESES

996.85
1,000.91
1,004.99
1,009.08
1,013.19
1,017.32
1,021.46
1,025.63
1,029.80
1,034.00
1,038.21
1,042.44
1,046.69
1,050.95

AMORTIZACIN
5000
5000
5000
5000
5000
5000
5000
5000
5000
5000

0
0
0
0
0
0
0
0
0
100000

13,334.68
12,333.77
11,328.78
10,319.70
9,306.51
8,289.19
7,267.73
6,242.10
5,212.30
4,178.30
3,140.09
2,097.64
1,050.95
0.00

86665.32274
87666.23096
88671.21699
89680.29747
90693.48906
91710.80852
92732.27266
93757.89838
94787.70262
95821.70242
96859.91485
97902.3571
98949.04638
100000

CAPITAL VIVO
CAP. AMORTIZADO
100000.00
0
100000.00
0
100000.00
0
100000.00
0
100000.00
0
100000.00
0
100000.00
0
100000.00
0
100000.00
0
100000.00
0
0.00
100000.00

S LA COLUMNA DE AMORTIZACIN. DESPUES DISEO LA COLUMNA DE CAPITAL AMORTIZADO, LUEGO LOS INTERESES, LUEGO LA ANUALIDAD

INTERESES

AMORTIZACIN
5000
4500
4000
3500
3000
2500
2000
1500
1000
500

10000
10000
10000
10000
10000
10000
10000
10000
10000
10000

CAPITAL VIVO
CAP. AMORTIZADO
100000.00
0
90000.00
10000.00
80000.00
20000.00
70000.00
30000.00
60000.00
40000.00
50000.00
50000.00
40000.00
60000.00
30000.00
70000.00
20000.00
80000.00
10000.00
90000.00
0.00
100000.00

Se caracteriza porque el primer perido es prepagable (periodo 0) y los siguientes son pospagable que en realidad son equivalentes
Se calcula a partir del ao 0 como uno francs.

INTERESES
20000
16,531.17
12,195.12
6,775.07
0.00

AMORTIZACIN
17344.17344
21680.2168
27100.271
33,875.34

CAPITAL VIVO
CAP. AMORTIZADO
100000.00
0
82655.83
17344.17
60975.61
39024.39
33875.34
66124.66
0.00
100000.00

ANUALIDAD
12,950.46
12,950.46
12,950.46
12,950.46
12,950.46

INTERESES
5,000.00
5,000.00
5,000.00
5,000.00
5,000.00
#NUM!

AMORTIZACIN

CAPITAL VIVO
CAP. AMORTIZADO
100000.00
0

ON BUCAR V, ESTA EN E

AO

MES
0
1
1
1
1
1
1
1
1
1
1
1
1
2
2
2
2
2
2
2
2
2
2
2
2
3
3
3
3
3
3
3
3
3
3
3
3
4
4
4
4
4
4
4
4
4
4
4
4

T. MENSUAL
0
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48

MENSUALIDAD

5
5
5
5
5
5
5
5
5
5
5
5
6
6
6
6
6
6
6
6
6
6
6
6
7
7
7
7
7
7
7
7
7
7
7
7
8
8
8
8
8
8
8
8
8
8
8
8
9
9

49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
83
84
85
86
87
88
89
90
91
92
93
94
95
96
97
98

9
9
9
9
9
9
9
9
9
9
10
10
10
10
10
10
10
10
10
10
10
10

99
100
101
102
103
104
105
106
107
108
109
110
111
112
113
114
115
116
117
118
119
120

FUNCIN DEL EURIBOR

AMORTIZACIN
INTERESES
CAP VIVO
CAP AMORT
0.00
100,000.00
0.00
205.9836
100,205.9836
0.00
206.4079
100,412.3915
0.00
206.8331
100,619.2246
0.00
207.2591
100,826.4838
0.00
207.6860
101,034.1698
0.00
208.1138
101,242.2837
0.00
208.5425
101,450.8262
0.00
208.9721
101,659.7983
0.00
209.4025
101,869.2008
0.00
209.8339
102,079.0347
0.00
210.2661
102,289.3008
0.00
210.6992
102,500.0000
0.00
227.8193
102,727.8193
0.00
228.3257
102,956.1450
0.00
228.8331
103,184.9781

0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00

229.3417
229.8515
230.3624
230.8744
231.3875
231.9018
232.4172
232.9338
250.5196
251.1172
251.7161
252.3165
252.9183
253.5215
254.1262
254.7323
255.3399
255.9489
256.5594
257.1713
257.7847

103,414.3198
103,644.1713
103,874.5337
104,105.4081
104,336.7956
104,568.6974
104,801.1146
105,034.0485
105,284.5681
105,535.6853
105,787.4014
106,039.7179
106,292.6362
106,546.1577
106,800.2839
107,055.0163
107,310.3562
107,566.3051
107,822.8645
108,080.0359
108,337.8206

CAP. AMORTIZADO
7950.457497
16298.43787
25063.81726
34267.46562
43931.29639
54078.31871
64732.69214
75919.78425
87666.23096
100000

O LOS INTERESES, LUEGO LA ANUALIDAD

e en realidad son equivalentes

CAPITAL VIVO
CAP. AMORTIZADO
100000.00

AOS

EURIBOR
1
2
3
4
5
6
7
8
9
10

2.00%
2.20%
2.40%
2.60%
2.80%
3.00%
3.20%
3.40%
3.60%
3.80%

E+0,5%

t MENSUAL
2.50%
2.70%
2.90%
3.10%
3.30%
3.50%
3.70%
3.90%
4.10%
4.30%

0.21%
0.22%
0.24%
0.25%
0.27%
0.29%
0.30%
0.32%
0.34%
0.35%

NOS LO MANDA LA DIRECTORA DEL CURSO POR CORREO

TIR Y VAN
EJERCICIO

FECHAS
10/14/2011
1/27/2012
2/29/2012
6/29/2012
12/21/2012

FLUJO DE CAJA
DIS
-4,000.00
1,200.00
1,100.00
1,000.00
900.00

Como no es periodica los flujo se utiliza el VAN.NO.PER

DIAS ACUMULADOS
0
105
33
121
175

0
105
138
259
434

TASA DE DESCUENTO
0.00%
0.50%
1.00%
1.50%
2.00%
2.50%
3.00%
3.50%
4.00%
4.50%
5.00%
5.50%
6.00%
6.50%
7.00%
7.50%
8.00%
8.50%
9.00%
9.50%
10.00%
10.50%
11.00%
11.50%
12.00%
12.50%
13.00%
13.50%
14.00%
14.50%
15.00%
15.50%

16.00%
16.50%
17.00%
17.50%

TIR NO PERIODICA
0.084685607

Al darle la estimacin ms cercana me la calcula, sin

SUPUESTO QUE TIENE VARIAS TIR y VAN PERIODICO

AOS

FLUJOS
0
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34

TASAS
-365
200
200
200
200
200
-200
-200
-200
-200
-200
0
0
0
0
0
0
0
0
0
400

VAN
0
0.50%
1.00%
1.50%
2.00%
2.50%
3.00%
3.50%
4.00%
4.50%
5.00%
5.50%
6.00%
6.50%
7.00%
7.50%
8.00%
8.50%
9.00%
9.50%
10.00%
10.50%
11.00%
11.50%
12.00%
12.50%
13.00%
13.50%
14.00%
14.50%
15.00%
15.50%
16.00%
16.50%
17.00%

35
21.29
9.93
0.61
-6.94
-12.97
-17.69
-21.27
-23.90
-25.70
-26.80
-27.32
-27.35
-26.98
-26.27
-25.30
-24.11
-22.77
-21.30
-19.75
-18.14
-16.51
-14.87
-13.25
-11.67
-10.13
-8.64
-7.23
-5.89
-4.63
-3.45
-2.37
-1.37
-0.47
0.33

35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56

17.50%
18.00%
18.50%
19.00%
19.50%
20.00%
20.50%
21.00%
21.50%
22.00%
22.50%
23.00%
23.50%
24.00%
24.50%
25.00%
25.50%
26.00%
26.50%
27.00%
27.50%
28.00%

1.04
1.65
2.17
2.60
2.94
3.18
3.34
3.42
3.41
3.32
3.15
2.90
2.59
2.20
1.74
1.22
0.64
-0.00
-0.70
-1.45
-2.26
-3.11

TIR
16.788%
1.537%

Con los flujos de caja sale. Observar que hay tres ecuaciones donde se pu
tir en torno al 1.5 de interes

VAN
200.00
187.3527846
174.8182786
162.394887
150.0810457
137.87522
125.7759048
113.7816231
101.8909259
90.10239122
78.41462365
66.82625358
55.33593667
43.94235328
32.64420786
21.44022842
10.32916599
-0.690205917
-11.6190918
-22.45867469
-33.21011657
-43.87455894
-54.45312318
-64.94691105
-75.35700512
-85.68446917
-95.93034859
-106.0956708
-116.1814457
-126.1886659
-136.1183072
-145.971329

-155.7486744
-165.451271
-175.0800305
-184.63585

rle la estimacin ms cercana me la calcula, sino se lo puesiera tambien, pero hay supuestos que pueden tener varias tir

Suma de todos los flujos.

Se empieza con los flujos y luego se le suma el desembolso inicial.

Observar que hay tres ecuaciones donde se puede ver el tir