RENCANA ANGGARAN BIAYA

Pekerjaan Pembangunan Kost 3 lantai

Tahun 2012

Kapasitas
Tipe A
10
Tipe B
10
Tipe C
10
Biaya Konstruksi
Tipe A
Rp 200,000,000
Tipe B
Rp 175,000,000
Tipe C
Rp 125,000,000
Biaya Pembebasan Lahan
Rp
20,000,000
Total Biaya Konstruksi
Rp 520,000,000
Waktu Pelaksanaan
1 tahun
Biaya O&M
Rp
3,000,000
Listrik
Rp
1,500,000
PDAM
Rp
1,000,000
WIFI
Rp
500,000
Asumsi Kenaikan biaya O&M
5%
Harga Kamar
Tipe A
Rp
500,000
Tipe B
Rp
450,000
Tipe C
Rp
400,000
Asumsi kenaikan biaya Sewa
10%
Umur Bangunan
25
Suku Bunga Pinjaman U/ Investasi
Initial Cost
Modal sendiri
50%
Pinjam
50%
Tipe A
Modal sendiri
Pinjam
Tipe B
Modal sendiri
Pinjam
Tipe C
Modal sendiri
Pinjam

Unit
Unit
Unit

/ 1 bulan

Rp 36,000,000

/ 1 bulan
/ 1 bulan
/ 1 bulan

=
=
=

Rp
Rp
Rp

tahun
14%

30%
70%

Rp 66,000,000
Rp 154,000,000

30%
70%

Rp 52,500,000
Rp 122,500,000

30%
70%

Rp
Rp

37,500,000
87,500,000

6,000,000
5,400,000
4,800,000

Asumsi Semua kamar Laku

Tipe
Tipe A
Tipe C

Jumlah Unit Harga Sewa

10 Rp
10 Rp

500,000 Rp
350,000 Rp

Total Semua Tipe

/ 1 tahun

/ 1 tahun
/ 1 tahun
/ 1 tahun

Total Harga Sewa

Rp
Rp

5,000,000
3,500,000

8,500,000 / 1 bulan
102,000,000 / 1 tahun

dimana :
rd
re
D
E

Tingkat suku bunga pinjaman

Suku bunga investasi yang diharapkan oleh pemilik > suku bunga deposito
Debt
Equity

tax

Pajak

WACC

10.81%

14%
11.53%
70%
30%
25%

Tipe A
Tahun
Ke1
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

TOTAL

Rp

Biaya

Kas Keluar
Biaya O&M

Jumlah Biaya

Konstruksi

tetap

per/tahun

Rp
220,000,000

Kas M

Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp

36,000,000
37,800,000
39,690,000
41,674,500
43,758,225
45,946,136
48,243,443
50,655,615
53,188,396
55,847,816
58,640,207
61,572,217
64,650,828
67,883,369
71,277,538
74,841,414
78,583,485
82,512,659
86,638,292
90,970,207
95,518,717
100,294,653
105,309,386
110,574,855
116,103,598

Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp

Rp
220,000,000
36,000,000
37,800,000
39,690,000
41,674,500
43,758,225
45,946,136
48,243,443
50,655,615
53,188,396
55,847,816
58,640,207
61,572,217
64,650,828
67,883,369
71,277,538
74,841,414
78,583,485
82,512,659
86,638,292
90,970,207
95,518,717
100,294,653
105,309,386
110,574,855
116,103,598

Jumlah
Kamar
Tipe A
0
10
10
10
10
10
10
10
10
10
10
10
10
10
10
10
10
10
10
10
10
10
10
10
10
10

Rp 220,000,000 Rp 1,718,175,557 Rp 1,938,175,557

Tipe B
Tahun
Ke1
2
3
4
5
6
7
8
9
10

Rp

Biaya

Kas Keluar
Biaya O&M

Jumlah Biaya

Konstruksi

tetap

per/tahun

Rp
175,000,000

Kas M

Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp

36,000,000
37,800,000
39,690,000
41,674,500
43,758,225
45,946,136
48,243,443
50,655,615
53,188,396

Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp

Rp
175,000,000
36,000,000
37,800,000
39,690,000
41,674,500
43,758,225
45,946,136
48,243,443
50,655,615
53,188,396

Jumlah
Kamar
Tipe B

10
10
10
10
10
10
10
10
10

11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26

TOTAL

Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp

55,847,816
58,640,207
61,572,217
64,650,828
67,883,369
71,277,538
74,841,414
78,583,485
82,512,659
86,638,292
90,970,207
95,518,717
100,294,653
105,309,386
110,574,855
116,103,598

Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp

55,847,816
58,640,207
61,572,217
64,650,828
67,883,369
71,277,538
74,841,414
78,583,485
82,512,659
86,638,292
90,970,207
95,518,717
100,294,653
105,309,386
110,574,855
116,103,598

10
10
10
10
10
10
10
10
10
10
10
10
10
10
10
10

Rp 175,000,000 Rp 1,718,175,557 Rp 1,893,175,557

Tipe C
Tahun
Ke1
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

Rp

Biaya

Kas Keluar
Biaya O&M

Jumlah Biaya

Konstruksi

tetap

per/tahun

Rp
125,000,000

Kas M

Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp

36,000,000
37,800,000
39,690,000
41,674,500
43,758,225
45,946,136
48,243,443
50,655,615
53,188,396
55,847,816
58,640,207
61,572,217
64,650,828
67,883,369
71,277,538
74,841,414
78,583,485
82,512,659
86,638,292
90,970,207
95,518,717
100,294,653
105,309,386
110,574,855
116,103,598

Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp

Rp
125,000,000
36,000,000
37,800,000
39,690,000
41,674,500
43,758,225
45,946,136
48,243,443
50,655,615
53,188,396
55,847,816
58,640,207
61,572,217
64,650,828
67,883,369
71,277,538
74,841,414
78,583,485
82,512,659
86,638,292
90,970,207
95,518,717
100,294,653
105,309,386
110,574,855
116,103,598

Jumlah
Kamar
Tipe C

10
10
10
10
10
10
10
10
10
10
10
10
10
10
10
10
10
10
10
10
10
10
10
10
10

TOTAL

Rp 125,000,000 Rp 1,718,175,557 Rp 1,843,175,557

Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp

Harga
Kamar
Tipe A
Rp
0
6,000,000
6,600,000
7,260,000
7,986,000
8,784,600
9,663,060
10,629,366
11,692,303
12,861,533
14,147,686
15,562,455
17,118,700
18,830,570
20,713,627
22,784,990
25,063,489
27,569,838
30,326,822
33,359,504
36,695,454
40,365,000
44,401,500
48,841,650
53,725,815
59,098,396

Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp

Aliran Kas Masuk

Penjualan

Hasil Sewa Kamar

Rp
0
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp

Rp 590,082,357 Rp

Harga
Kamar
Tipe B
Rp
0
5,400,000
5,940,000
6,534,000
7,187,400
7,906,140
8,696,754
9,566,429
10,523,072
11,575,380

Kas Masuk
Jumlah Penerimaan

Rp
60,000,000
66,000,000
72,600,000
79,860,000
87,846,000
96,630,600
106,293,660
116,923,026
128,615,329
141,476,861
155,624,548
171,187,002
188,305,703
207,136,273
227,849,900
250,634,890
275,698,379
303,268,217
333,595,039
366,954,543
403,649,997
444,014,997
488,416,496
537,258,146
590,983,961

5,900,823,566 Rp

0
24,000,000
28,200,000
32,910,000
38,185,500
44,087,775
50,684,464
58,050,217
66,267,411
75,426,933
85,629,046
96,984,341
109,614,785
123,654,875
139,252,904
156,572,363
175,793,476
197,114,894
220,755,558
246,956,746
275,984,336
308,131,280
343,720,343
383,107,110
426,683,291
474,880,363

4,182,648,009

Kas Masuk
Jumlah Penerimaan

Aliran Kas Masuk

Penjualan

Hasil Sewa Kamar

Rp
0
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp

Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp

Rp
54,000,000
59,400,000
65,340,000
71,874,000
79,061,400
86,967,540
95,664,294
105,230,723
115,753,796

Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp

0
18,000,000
21,600,000
25,650,000
30,199,500
35,303,175
41,021,404
47,420,851
54,575,108
62,565,400

Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp

12,732,918
14,006,209
15,406,830
16,947,513
18,642,265
20,506,491
22,557,140
24,812,854
27,294,140
30,023,553
33,025,909
36,328,500
39,961,350
43,957,485
48,353,233
53,188,556

Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp

Rp 531,074,121 Rp

Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp

Harga
Kamar
Tipe C
Rp
0
4,800,000
5,280,000
5,808,000
6,388,800
7,027,680
7,730,448
8,503,493
9,353,842
10,289,226
11,318,149
12,449,964
13,694,960
15,064,456
16,570,902
18,227,992
20,050,791
22,055,870
24,261,457
26,687,603
29,356,363
32,292,000
35,521,200
39,073,320
42,980,652
47,278,717

127,329,175
140,062,093
154,068,302
169,475,132
186,422,646
205,064,910
225,571,401
248,128,541
272,941,395
300,235,535
330,259,088
363,284,997
399,613,497
439,574,847
483,532,331
531,885,564

Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp

71,481,360
81,421,886
92,496,085
104,824,305
118,539,276
133,787,373
150,729,987
169,545,056
190,428,736
213,597,243
239,288,881
267,766,280
299,318,844
334,265,461
372,957,476
415,781,967

5,310,741,209 Rp

3,592,565,652

Kas Masuk
Jumlah Penerimaan

Aliran Kas Masuk

Penjualan

Hasil Sewa Kamar

Rp
0
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp

Rp
48,000,000
52,800,000
58,080,000
63,888,000
70,276,800
77,304,480
85,034,928
93,538,421
102,892,263
113,181,489
124,499,638
136,949,602
150,644,562
165,709,018
182,279,920
200,507,912
220,558,703
242,614,574
266,876,031
293,563,634
322,919,998
355,211,997
390,733,197
429,806,517
472,787,168

Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp

0
12,000,000
15,000,000
18,390,000
22,213,500
26,518,575
31,358,344
36,791,485
42,882,806
49,703,867
57,333,673
65,859,432
75,377,385
85,993,734
97,825,649
111,002,383
125,666,498
141,975,218
160,101,914
180,237,739
202,593,427
227,401,280
254,917,344
285,423,811
319,231,662
356,683,570

Rp 472,065,885 Rp

4,720,658,853 Rp

3,002,483,295

Tipe A
Tahun
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
TOTAL
PV
BC RATIO

COST
220,000,000.00
36,000,000.00
37,800,000.00
39,690,000.00
41,674,500.00
43,758,225.00
45,946,136.25
48,243,443.06
50,655,615.22
53,188,395.98
55,847,815.78
58,640,206.56
61,572,216.89
64,650,827.74
67,883,369.12
71,277,537.58
74,841,414.46
78,583,485.18
82,512,659.44
86,638,292.41
90,970,207.03
95,518,717.39
100,294,653.25
105,309,385.92
110,574,855.21
116,103,597.97
1,938,175,557.45
$73,243,962.05

BENEFIT
24,000,000.00
28,200,000.00
32,910,000.00
38,185,500.00
44,087,775.00
50,684,463.75
58,050,216.94
66,267,410.78
75,426,932.62
85,629,045.68
96,984,341.04
109,614,785.47
123,654,874.87
139,252,903.74
156,572,362.57
175,793,475.71
197,114,894.00
220,755,557.66
246,956,746.40
275,984,335.66
308,131,279.57
343,720,343.40
383,107,110.40
426,683,290.74
474,880,362.57
4,182,648,008.59
$158,062,932.34
2.16

i
n

=
=

14%
25

Tipe B
Tahun
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
TOTAL
PV
BC RATIO

Tipe C
COST
BENEFIT
175,000,000.00
36,000,000.00
18,000,000.00
37,800,000.00
21,600,000.00
39,690,000.00
25,650,000.00
41,674,500.00
30,199,500.00
43,758,225.00
35,303,175.00
45,946,136.25
41,021,403.75
48,243,443.06
47,420,850.94
50,655,615.22
54,575,108.18
53,188,395.98
62,565,399.76
55,847,815.78
71,481,359.54
58,640,206.56
81,421,886.28
61,572,216.89
92,496,085.24
64,650,827.74
104,824,304.61
67,883,369.12
118,539,276.45
71,277,537.58
133,787,372.56
74,841,414.46
150,729,986.69
78,583,485.18
169,545,056.08
82,512,659.44
190,428,735.95
86,638,292.41
213,597,242.52
90,970,207.03
239,288,881.39
95,518,717.39
267,766,279.88
100,294,653.25
299,318,843.74
105,309,385.92
334,265,460.77
110,574,855.21
372,957,476.14
116,103,597.97
415,781,966.52
1,893,175,557.45 3,592,565,651.98
$71,543,404.90
$135,763,626.39
1.90

Tahun
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
TOTAL
PV
BC RATIO

COST
125,000,000.00
36,000,000.00
37,800,000.00
39,690,000.00
41,674,500.00
43,758,225.00
45,946,136.25
48,243,443.06
50,655,615.22
53,188,395.98
55,847,815.78
58,640,206.56
61,572,216.89
64,650,827.74
67,883,369.12
71,277,537.58
74,841,414.46
78,583,485.18
82,512,659.44
86,638,292.41
90,970,207.03
95,518,717.39
100,294,653.25
105,309,385.92
110,574,855.21
116,103,597.97
1,843,175,557.45
$69,653,896.96
1.63

BENEFIT
12,000,000.00
15,000,000.00
18,390,000.00
22,213,500.00
26,518,575.00
31,358,343.75
36,791,484.94
42,882,805.58
49,703,866.90
57,333,673.39
65,859,431.52
75,377,385.00
85,993,734.35
97,825,649.17
111,002,382.54
125,666,497.67
141,975,218.16
160,101,914.24
180,237,738.63
202,593,427.12
227,401,280.18
254,917,344.07
285,423,811.14
319,231,661.55
356,683,570.47
3,002,483,295.38
$113,464,320.45
1.63

Tipe A
Pinjaman
Tahun ke-

Pendapatan

Pembayaran Pokok Pembayaran bunga

1
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

Jumlah

Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp

24,000,000
28,200,000
32,910,000
38,185,500
44,087,775
50,684,464
58,050,217
66,267,411
75,426,933
85,629,046
96,984,341
109,614,785
123,654,875
139,252,904
156,572,363
175,793,476
197,114,894
220,755,558
246,956,746
275,984,336
308,131,280
343,720,343
383,107,110
426,683,291
474,880,363

2
Rp
Rp
Rp
Rp
Rp

Total Pinjaman

30,800,000
30,800,000
30,800,000
30,800,000
30,800,000

Rp
Rp
Rp
Rp
Rp

10,667,814
10,667,814
10,667,814
10,667,814
10,667,814

4
Rp
Rp
Rp
Rp
Rp

41,467,814
41,467,814
41,467,814
41,467,814
41,467,814

Rp 4,182,648,009 Rp 154,000,000 Rp 53,339,068 Rp 207,339,068

TINGKAT PEMGEMBALIAN FINANSIAL (FIRR) UNTUK INVESTASI

TINGKAT PEMGEMBALIAN FINANSIAL (FIRR) UNTUK MODAL SENDIRI
PENDAPATAN BERSIH NPV
TINGKAT SUKU BUNGA (DISCOUNT RATE)
PERIODE PENGEMBALIAN (PAYBACK)
PERBANDINGAN KEUNTUNGAN DENGAN BIAYA (BCR)
Tipe B
Pinjaman
Tahun ke-

Pendapatan

Pembayaran Pokok Pembayaran bunga

1
1
2
3
4
5
6

Rp
Rp
Rp
Rp
Rp
Rp

18,000,000
21,600,000
25,650,000
30,199,500
35,303,175

2
Rp
Rp
Rp
Rp
Rp

24,500,000
24,500,000
24,500,000
24,500,000
24,500,000

3
Rp
Rp
Rp
Rp
Rp

8,485,761
8,485,761
8,485,761
8,485,761
8,485,761

Total Pinjaman
4
Rp32,985,760.85
Rp32,985,760.85
Rp32,985,760.85
Rp32,985,760.85
Rp32,985,760.85

7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26

Jumlah

Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp

41,021,404
47,420,851
54,575,108
62,565,400
71,481,360
81,421,886
92,496,085
104,824,305
118,539,276
133,787,373
150,729,987
169,545,056
190,428,736
213,597,243
239,288,881
267,766,280
299,318,844
334,265,461
372,957,476
415,781,967

Rp 3,592,565,652 Rp 122,500,000 Rp 42,428,804 Rp 164,928,804

TINGKAT PEMGEMBALIAN FINANSIAL (FIRR) UNTUK INVESTASI

TINGKAT PEMGEMBALIAN FINANSIAL (FIRR) UNTUK MODAL SENDIRI
PENDAPATAN BERSIH NPV
TINGKAT SUKU BUNGA (DISCOUNT RATE)
PERIODE PENGEMBALIAN (PAYBACK)
PERBANDINGAN KEUNTUNGAN DENGAN BIAYA (BCR)
Tipe C
Pinjaman
Tahun ke-

Pendapatan

Pembayaran Pokok Pembayaran bunga

1
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17

Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp

12,000,000
15,000,000
18,390,000
22,213,500
26,518,575
31,358,344
36,791,485
42,882,806
49,703,867
57,333,673
65,859,432
75,377,385
85,993,734
97,825,649
111,002,383
125,666,498

2
Rp
Rp
Rp
Rp
Rp

17,500,000
17,500,000
17,500,000
17,500,000
17,500,000

3
Rp
Rp
Rp
Rp
Rp

6,061,258
6,061,258
6,061,258
6,061,258
6,061,258

Total Pinjaman
4
Rp23,561,257.75
Rp23,561,257.75
Rp23,561,257.75
Rp23,561,257.75
Rp23,561,257.75

18
19
20
21
22
23
24
25
26

Jumlah

Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp

141,975,218
160,101,914
180,237,739
202,593,427
227,401,280
254,917,344
285,423,811
319,231,662
356,683,570

Rp 3,002,483,295 Rp

87,500,000 Rp 30,306,289 Rp 117,806,289

TINGKAT PEMGEMBALIAN FINANSIAL (FIRR) UNTUK INVESTASI

TINGKAT PEMGEMBALIAN FINANSIAL (FIRR) UNTUK MODAL SENDIRI
PENDAPATAN BERSIH NPV
TINGKAT SUKU BUNGA (DISCOUNT RATE)
PERIODE PENGEMBALIAN (PAYBACK)
PERBANDINGAN KEUNTUNGAN DENGAN BIAYA (BCR)

Penarikan pinjaman

Rp

Penarikan Dana
sendiri

5
154,000,000 Rp

6
66,000,000
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp

Rp

Rp

Pendapatan Bersih sebelum

pajak

8
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp

4,532,186
8,732,186
13,442,186
18,717,686
24,619,961
41,884,464
49,250,217
57,467,411
66,626,933
76,829,046
88,184,341
100,814,785
114,854,875
130,452,904
147,772,363
166,993,476
188,314,894
211,955,558
238,156,746
267,184,336
299,331,280
334,920,343
374,307,110
417,883,291
466,080,363

154,000,000 Rp 66,000,000 Rp 220,000,000 Rp

3,909,308,940

8,800,000
8,800,000
8,800,000
8,800,000
8,800,000
8,800,000
8,800,000
8,800,000
8,800,000
8,800,000
8,800,000
8,800,000
8,800,000
8,800,000
8,800,000
8,800,000
8,800,000
8,800,000
8,800,000
8,800,000
8,800,000
8,800,000
8,800,000
8,800,000
8,800,000

38%
23%
494,537,674
10.8%
Thn ke-5
2.25

Penarikan pinjaman

Rp

Depresiasi

Penarikan Dana
sendiri

5
122,500,000 Rp

6
52,500,000
Rp
Rp
Rp
Rp
Rp

Depresiasi

Pendapatan Bersih sebelum

pajak

7,000,000
7,000,000
7,000,000
7,000,000
7,000,000

Rp
Rp
Rp
Rp
Rp

2,514,239
6,114,239
10,164,239
14,713,739
19,817,414

Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp

Rp

Rp

Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp

34,021,404
40,420,851
47,575,108
55,565,400
64,481,360
74,421,886
85,496,085
97,824,305
111,539,276
126,787,373
143,729,987
162,545,056
183,428,736
206,597,243
232,288,881
260,766,280
292,318,844
327,265,461
365,957,476
408,781,967

122,500,000 Rp 52,500,000 Rp 175,000,000 Rp

3,375,136,848

38%
24%
418,592,205
10.8%
Thn ke-5
2.39

Penarikan pinjaman

Rp

7,000,000
7,000,000
7,000,000
7,000,000
7,000,000
7,000,000
7,000,000
7,000,000
7,000,000
7,000,000
7,000,000
7,000,000
7,000,000
7,000,000
7,000,000
7,000,000
7,000,000
7,000,000
7,000,000
7,000,000

Penarikan Dana
sendiri

5
87,500,000 Rp

6
37,500,000
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp

Depresiasi

Pendapatan Bersih sebelum

pajak

5,000,000
5,000,000
5,000,000
5,000,000
5,000,000
5,000,000
5,000,000
5,000,000
5,000,000
5,000,000
5,000,000
5,000,000
5,000,000
5,000,000
5,000,000
5,000,000

Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp

938,742
3,938,742
7,328,742
11,152,242
15,457,317
26,358,344
31,791,485
37,882,806
44,703,867
52,333,673
60,859,432
70,377,385
80,993,734
92,825,649
106,002,383
120,666,498

Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp

Rp

Rp

Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp

136,975,218
155,101,914
175,237,739
197,593,427
222,401,280
249,917,344
280,423,811
314,231,662
351,683,570

87,500,000 Rp 37,500,000 Rp 125,000,000 Rp

2,847,177,007

39%
25%
343,864,181
10.8%
Thn ke-5
2.75

5,000,000
5,000,000
5,000,000
5,000,000
5,000,000
5,000,000
5,000,000
5,000,000
5,000,000

Pajak

Pendapatan Bersih setelah pendapatan bersih set.

pajak
Pajak utk IRR

9
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp

1,359,655.91
2,619,655.91
4,032,655.91
5,615,305.91
7,385,988.41
12,565,339.13
14,775,065.08
17,240,223.24
19,988,079.79
23,048,713.71
26,455,302.31
30,244,435.64
34,456,462.46
39,135,871.12
44,331,708.77
50,098,042.71
56,494,468.20
63,586,667.30
71,447,023.92
80,155,300.70
89,799,383.87
100,476,103.02
112,292,133.12
125,364,987.22
139,824,108.77

10
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp

Rp 1,172,792,682 Rp

Pajak

754,271.74
1,834,271.74
3,049,271.74
4,414,121.74
5,945,224.24

Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp

2,802,516,258 Rp

10
Rp
Rp
Rp
Rp
Rp

(15,740,033)
(13,220,033)
(10,385,033)
(7,200,383)
(3,627,810)

Rp
Rp
Rp
Rp
Rp
Rp

Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp

2,921,855,326 Rp

Pendapatan Bersih setelah pendapatan bersih set.

pajak
Pajak utk IRR

9
Rp
Rp
Rp
Rp
Rp

(18,827,470)
(15,887,470)
(12,590,470)
(8,897,620)
(4,766,027)
38,119,125
43,275,152
49,027,188
55,438,853
62,580,332
70,529,039
79,370,350
89,198,412
100,117,033
112,240,654
125,695,433
140,620,426
157,168,890
175,509,722
195,829,035
218,331,896
243,244,240
270,814,977
301,318,304
335,056,254

11
(88,000,000)
22,640,344
25,580,344
28,877,344
32,570,194
36,701,787
38,119,125
43,275,152
49,027,188
55,438,853
62,580,332
70,529,039
79,370,350
89,198,412
100,117,033
112,240,654
125,695,433
140,620,426
157,168,890
175,509,722
195,829,035
218,331,896
243,244,240
270,814,977
301,318,304
335,056,254

Arus Kas Keseluruhan

11
(70,000,000)
17,245,728
19,765,728
22,600,728
25,785,378
29,357,951

12
(88,000,000)
(65,359,656)
(39,779,312)
(10,901,968)
21,668,226
58,370,013
96,489,138
139,764,289
188,791,477
244,230,330
306,810,662
377,339,701
456,710,050
545,908,463
646,025,495
758,266,149
883,961,582
1,024,582,008
1,181,750,898
1,357,260,621
1,553,089,656
1,771,421,551
2,014,665,792
2,285,480,769
2,586,799,073
2,921,855,326

21,217,200,335

Arus Kas Keseluruhan

Rp
Rp
Rp
Rp
Rp
Rp

12
(70,000,000)
(52,754,272)
(32,988,543)
(10,387,815)
15,397,563
44,755,514

Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp

10,206,421.13
12,126,255.28
14,272,532.46
16,669,619.93
19,344,407.86
22,326,565.88
25,648,825.57
29,347,291.38
33,461,782.94
38,036,211.77
43,118,996.01
48,763,516.82
55,028,620.78
61,979,172.75
69,686,664.42
78,229,883.96
87,695,653.12
98,179,638.23
109,787,242.84
122,634,589.96

Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp

Rp 1,012,541,054 Rp

Pajak

281,622.67
1,181,622.67
2,198,622.67
3,345,672.67
4,637,195.17
7,907,503.13
9,537,445.48
11,364,841.68
13,411,160.07
15,700,102.02
18,257,829.46
21,113,215.50
24,298,120.30
27,847,694.75
31,800,714.76
36,199,949.30

Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp

2,415,095,793 Rp

30,814,983
35,294,596
40,302,576
45,895,780
52,136,952
59,095,320
66,847,260
75,477,013
85,077,494
95,751,161
107,610,991
120,781,539
135,400,115
151,618,070
169,602,217
189,536,396
211,623,191
236,085,823
263,170,233
293,147,377

Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp

75,570,496
110,865,092
151,167,668
197,063,448
249,200,399
308,295,720
375,142,979
450,619,993
535,697,486
631,448,647
739,059,638
859,841,177
995,241,292
1,146,859,362
1,316,461,579
1,505,997,975
1,717,621,165
1,953,706,988
2,216,877,221
2,510,024,598

2,510,024,598 Rp

17,940,785,368

Pendapatan Bersih setelah pendapatan bersih set.

pajak
Pajak utk IRR

9
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp

30,814,983
35,294,596
40,302,576
45,895,780
52,136,952
59,095,320
66,847,260
75,477,013
85,077,494
95,751,161
107,610,991
120,781,539
135,400,115
151,618,070
169,602,217
189,536,396
211,623,191
236,085,823
263,170,233
293,147,377

10
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp

(11,842,880)
(9,742,880)
(7,369,880)
(4,693,430)
(1,679,878)
23,450,841
27,254,039
31,517,964
36,292,707
41,633,571
47,601,602
54,264,170
61,695,614
69,977,954
79,201,668
89,466,548

Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp

11
(50,000,000)
11,718,377
13,818,377
16,191,377
18,867,827
21,881,380
23,450,841
27,254,039
31,517,964
36,292,707
41,633,571
47,601,602
54,264,170
61,695,614
69,977,954
79,201,668
89,466,548

Arus Kas Keseluruhan

Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp

12
(50,000,000)
(38,281,623)
(24,463,245)
(8,271,868)
10,595,959
32,477,339
55,928,180
83,182,219
114,700,183
150,992,890
192,626,461
240,228,063
294,492,233
356,187,847
426,165,801
505,367,469
594,834,017

Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp

Rp

41,092,565.45
46,530,574.27
52,571,321.59
59,278,028.14
66,720,384.05
74,975,203.22
84,127,143.34
94,269,498.46
105,505,071.14

Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp

854,153,102 Rp

100,882,653
113,571,340
127,666,417
143,315,399
160,680,896
179,942,141
201,296,668
224,962,163
251,178,499

Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp

2,030,523,905 Rp

100,882,653
113,571,340
127,666,417
143,315,399
160,680,896
179,942,141
201,296,668
224,962,163
251,178,499

Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp

695,716,670
809,288,010
936,954,427
1,080,269,826
1,240,950,722
1,420,892,863
1,622,189,531
1,847,151,694
2,098,330,193

2,098,330,193 Rp

14,688,505,865

Pendapatan Bersih set. Pajak Tingkat Pengembalian

utk perhitungan ROE
Pinjaman
13
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp

Rp

14

(66,000,000)
(18,827,470)
(15,887,470)
(12,590,470)
(8,897,620)
(4,766,027)
38,119,125
43,275,152
49,027,188
55,438,853
62,580,332
70,529,039
79,370,350
89,198,412
100,117,033
112,240,654
125,695,433
140,620,426
157,168,890
175,509,722
195,829,035
218,331,896
243,244,240
270,814,977
301,318,304
335,056,254

2,736,516,258

0.579
0.680
0.794
0.921
1.063

0.807

Pendapatan Bersih set. Pajak Tingkat Pengembalian

utk perhitungan ROE
Pinjaman
13
Rp
Rp
Rp
Rp
Rp
Rp

14
(52,500,000)
(15,740,033)
(13,220,033)
(10,385,033)
(7,200,383)
(3,627,810)

0.546
0.655
0.778
0.916
1.070

PV
PV
Pendapatan Bersih
Modal Sendiri
Set.Pajak
15
16
(Rp79,415,931.92) Rp198,539,829.80
Rp18,438,812.66
Rp18,801,014.11
Rp19,153,895.14
Rp19,495,984.40
Rp19,826,086.29
Rp18,583,078.85
Rp19,038,744.95
Rp19,465,325.05
Rp19,863,870.68
Rp20,235,431.57
Rp20,581,050.47
Rp20,901,758.80
Rp21,198,572.97
Rp21,472,491.29
Rp21,724,491.43
Rp21,955,528.39
Rp22,166,532.81
Rp22,358,409.74
Rp22,532,037.62
Rp22,688,267.63
Rp22,827,923.20
Rp22,951,799.81
Rp23,060,664.90
Rp23,155,257.98
Rp23,236,290.81

Rp

446,297,390 Rp 198,539,830

PV
PV
Pendapatan Bersih
Modal Sendiri
Set.Pajak
15
16
(Rp63,171,764.03) Rp157,929,410.07
Rp14,045,314.47
Rp14,527,393.94
Rp14,990,713.05
Rp15,434,704.84
Rp15,858,989.96

Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp

30,814,983
35,294,596
40,302,576
45,895,780
52,136,952
59,095,320
66,847,260
75,477,013
85,077,494
95,751,161
107,610,991
120,781,539
135,400,115
151,618,070
169,602,217
189,536,396
211,623,191
236,085,823
263,170,233
293,147,377

Rp

2,362,595,793

Rp15,022,308.56
Rp15,527,728.40
Rp16,001,381.60
Rp16,444,565.30
Rp16,858,550.99
Rp17,244,581.71
Rp17,603,869.72
Rp17,937,594.73
Rp18,246,902.56
Rp18,532,904.09
Rp18,796,674.66
Rp19,039,253.64
Rp19,261,644.26
Rp19,464,813.71
Rp19,649,693.36
Rp19,817,179.14
Rp19,968,132.02
Rp20,103,378.68
Rp20,223,712.18
Rp20,329,892.71

0.793

Pendapatan Bersih set. Pajak Tingkat Pengembalian

utk perhitungan ROE
Pinjaman
13
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp

14
(37,500,000)
(11,842,880)
(9,742,880)
(7,369,880)
(4,693,430)
(1,679,878)
23,450,841
27,254,039
31,517,964
36,292,707
41,633,571
47,601,602
54,264,170
61,695,614
69,977,954
79,201,668
89,466,548

0.509
0.637
0.781
0.943
1.126

Rp

377,760,114 Rp 157,929,410

PV
PV
Pendapatan Bersih
Modal Sendiri
Set.Pajak
15
16
(Rp45,122,688.59) Rp112,806,721.48
Rp9,543,713.79
Rp10,156,216.28
Rp10,739,489.84
Rp11,293,972.22
Rp11,820,190.92
Rp11,432,288.25
Rp11,990,315.08
Rp12,513,616.28
Rp13,003,761.77
Rp13,462,269.34
Rp13,890,604.38
Rp14,290,179.96
Rp14,662,357.11
Rp15,008,445.39
Rp15,329,703.58
Rp15,627,340.59

Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp

100,882,653
113,571,340
127,666,417
143,315,399
160,680,896
179,942,141
201,296,668
224,962,163
251,178,499

Rp

1,993,023,905

Rp15,902,516.43
Rp16,156,343.33
Rp16,389,886.96
Rp16,604,167.65
Rp16,800,161.72
Rp16,978,802.82
Rp17,140,983.30
Rp17,287,555.59
Rp17,419,333.59

0.799

Rp

310,321,528 Rp 112,806,721

Kapasitas
Tipe A
Tipe B
Tipe C
Biaya Pembebasan Lahan
Biaya Konstruksi
1 Modal Sendiri
2 Pinjaman
Alokasi Dana I
Alokasi Dana II
Waktu Pelaksanaan
Biaya O&M
Listrik
PDAM
WIFI
Asumsi Kenaikan biaya O&M
Harga Kamar
Tipe A
Tipe B
Tipe C
Asumsi kenaikan biaya Sewa
Umur Bangunan
Suku Bunga Pinjaman U/ Investasi

10
10
10
Rp
2,000,000
Rp 1,000,000,000
40%
60%
50%
50%
2 tahun
Rp
10,000,000
Rp
7,000,000
Rp
2,000,000
Rp
1,000,000
5%

Unit
Unit
Unit

/ 1 bulan

Rp 120,000,000

Rp
Rp
Rp

/ 1 bulan
/ 1 bulan
/ 1 bulan

=
=
=

Rp
Rp
Rp

500,000
450,000
400,000
10%
25

30

=
=
=
=

Rp
Rp
Rp
Rp

tahun
14%

400,000,000
600,000,000
300,000,000
300,000,000

6,000,000
5,400,000
4,800,000

Asumsi Semua kamar Laku

Tipe
Tipe A
Tipe B
Tipe C

Jumlah Unit Harga Sewa

10 Rp
10 Rp
10 Rp

500,000 Rp
450,000 Rp
400,000 Rp

Total Semua Tipe

/ 1 tahun

/ 1 tahun
/ 1 tahun
/ 1 tahun

Total Harga Sewa

Rp
Rp

5,000,000
4,500,000
4,000,000

13,500,000 / 1 bulan
162,000,000 / 1 tahun

Tahun
Ke1
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

TOTAL

Rp

Biaya

Kas Keluar
Biaya O&M

Jumlah Biaya

Konstruksi

tetap

per/tahun

Rp
1,000,000,000

Kas Ma

Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp

120,000,000
126,000,000
132,300,000
138,915,000
145,860,750
153,153,788
160,811,477
168,852,051
177,294,653
186,159,386
195,467,355
205,240,723
215,502,759
226,277,897
237,591,792
249,471,382
261,944,951
275,042,198
288,794,308
303,234,023
318,395,725
334,315,511
351,031,286
368,582,851
387,011,993

Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp

Rp
1,000,000,000
120,000,000
126,000,000
132,300,000
138,915,000
145,860,750
153,153,788
160,811,477
168,852,051
177,294,653
186,159,386
195,467,355
205,240,723
215,502,759
226,277,897
237,591,792
249,471,382
261,944,951
275,042,198
288,794,308
303,234,023
318,395,725
334,315,511
351,031,286
368,582,851
387,011,993

Rp 1,000,000,000 Rp 5,727,251,858 Rp 6,727,251,858

Jumlah
Kamar
Semua Tipe
0
30
30
30
30
30
30
30
30
30
30
30
30
30
30
30
30
30
30
30
30
30
30
30
30
30

Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp

Total Harga
Kamar
Semua Tipe
Rp
0
162,000,000
178,200,000
196,020,000
215,622,000
237,184,200
260,902,620
286,992,882
315,692,170
347,261,387
381,987,526
420,186,279
462,204,906
508,425,397
559,267,937
615,194,730
676,714,203
744,385,624
818,824,186
900,706,605
990,777,265
1,089,854,992
1,198,840,491
1,318,724,540
1,450,596,994
1,595,656,693

Kas Masuk
Jumlah Penerimaan

Aliran Kas Masuk

Penjualan

Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp

Rp
0
4,860,000,000
5,346,000,000
5,880,600,000
6,468,660,000
7,115,526,000
7,827,078,600
8,609,786,460
9,470,765,106
10,417,841,617
11,459,625,778
12,605,588,356
13,866,147,192
15,252,761,911
16,778,038,102
18,455,841,912
20,301,426,103
22,331,568,714
24,564,725,585
27,021,198,144
29,723,317,958
32,695,649,754
35,965,214,729
39,561,736,202
43,517,909,822
47,869,700,804

Hasil Sewa Kamar

Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp
Rp

0
4,740,000,000
5,220,000,000
5,748,300,000
6,329,745,000
6,969,665,250
7,673,924,813
8,448,974,983
9,301,913,055
10,240,546,963
11,273,466,392
12,410,121,001
13,660,906,469
15,037,259,152
16,551,760,205
18,218,250,120
20,051,954,722
22,069,623,763
24,289,683,387
26,732,403,836
29,420,083,934
32,377,254,029
35,630,899,218
39,210,704,916
43,149,326,971
47,482,688,811

Rp 15,932,223,628 Rp 477,966,708,849 Rp 472,239,456,991

Tipe A
Tahun
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
TOTAL
PV
BC RATIO

COST
BENEFIT
1,000,000,000.00
120,000,000.00
4,740,000,000.00
126,000,000.00
5,220,000,000.00
132,300,000.00
5,748,300,000.00
138,915,000.00
6,329,745,000.00
145,860,750.00
6,969,665,250.00
153,153,787.50
7,673,924,812.50
160,811,476.88
8,448,974,983.13
168,852,050.72
9,301,913,055.28
177,294,653.25
10,240,546,963.35
186,159,385.92
11,273,466,392.34
195,467,355.21
12,410,121,000.87
205,240,722.97
13,660,906,468.72
215,502,759.12
15,037,259,151.74
226,277,897.08
16,551,760,204.87
237,591,791.93
18,218,250,120.21
249,471,381.53
20,051,954,721.83
261,944,950.61
22,069,623,763.09
275,042,198.14
24,289,683,386.93
288,794,308.04
26,732,403,835.53
303,234,023.45
29,420,083,934.48
318,395,724.62
32,377,254,029.11
334,315,510.85
35,630,899,218.25
351,031,286.39
39,210,704,915.61
368,582,850.71
43,149,326,971.49
387,011,993.25
47,482,688,811.18
6,727,251,858.16
472,239,456,990.52
$254,223,915.83 $472,239,456,990.52
1857.57

i
n

=
=

14%
25

Pinjaman
Tahun ke-

Pendapatan
1

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

Pembayar Pembayar Total Pinjaman

an Pokok an bunga
2

Penarikan pinjaman
5

Penarikan Dana sendiri

Depresiasi

Pendapatan Bersih sebelum pajak

Pajak

Pendapatan Bersih setelah pajak

pendapatan bersih set. Pajak utk IRR

Arus Kas Keseluruhan

10

11

12

Pendapatan Bersih set. Pajak utk perhitungan ROE

Tingkat Pengembalian Pinjaman

13

14

PV B PV C
15

16