Академический Документы
Профессиональный Документы
Культура Документы
4
3
6.53
20.92
PROYECTOS ALTERNATIVOS
cok
10%
Ao
PA
PB
-100
-100
10
50
20
40
30
30
40
20
50
10
12.0%
20.3%
4. Beneficio costo
B/C (A)
B/C (B)
1.07
1.21
Preguntas
a. En ambos proyectos los flujos tiene los mismos
valores, lo que vara es el orden.
60
b. Cul de los dos proyectos es mejor?. (Mayor rentabilidad).
50 proyecto?
c. Todos los criterios coinciden acerca del mejor
k
VAN A
VAN B
40
0%
50
50
2%
39.54
43.27
30
4%
30.06
37.04
20
6%
21.47
31.27
8%
13.65
25.91
10
10%
6.53
20.02
0
12%
0.02
16.27
14%
-5.94
11.92
0% 2% 4% 6% 8% 10% 12% 14% 16% 18% 20% 22%
16%
-11.4
7.86 -10
18%
-16.42
4.05 -20
20%
-21.03
0.47
22%
-25.29
-2.89 -30
PA
PB
Ao
TIR MULTIPLE
Flujo
0
-180
1
100
2
100
3
100
4
100
5
100
6
-100
7
-100
8
-100
9
-100
10
-100
11
0
12
0
13
0
14
0
15
0
16
0
17
0
18
0
19
0
20
200
Tasa
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%
VAN
20.0
7.5
-1.0
-6.3
-9.4
-10.9
-11.2
-10.6
-9.6
-8.1
-6.6
-4.9
-3.3
-1.8
-0.4
0.8
1.8
2.7
3.3
3.8
4.1
4.2
4.2
4.0
3.6
3.1
2.5
1.8
0.9
0.0
-1.0
-2.1
-3.2
-4.4
-5.7
-7.0
-8.4
-9.8
-11.2
-12.6
-14.1
25.0
20.0
15.0
10.0
5.0
0.0
-5.0
-10.0
-15.0
-20.0
0
1
2
-10
50
-60
0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
50%
55%
60%
65%
70%
75%
80%
85%
90%
95%
100%
105%
110%
115%
120%
125%
130%
135%
140%
145%
150%
155%
160%
165%
170%
175%
180%
185%
190%
195%
200%
205%
-20.00
-16.00
-12.85
-10.34
-8.33
-6.72
-5.42
-4.36
-3.50
-2.80
-2.22
-1.75
-1.37
-1.05
-0.79
-0.58
-0.41
-0.27
-0.16
-0.07
0.00
0.06
0.10
0.13
0.15
0.16
0.17
0.18
0.17
0.17
0.16
0.15
0.14
0.12
0.11
0.09
0.07
0.06
0.04
0.02
0.00
-0.02
5.00
0.00
-5.00
-10.00
-15.00
-20.00
-25.00
25.0
20.0
15.0
10.0
5.0
0.0
-5.0
-10.0
-15.0
-20.0
5.00
0.00
-5.00
-10.00
-15.00
-20.00
-25.00
PROYECTOS ALTERNATIVOS
Ao
0
1
2
3
4
5
PA
-100
10
20
30
40
50
PB
-100
50
40
30
20
10
TIR(A)
60.00
40.00
20.00
VAN
0.00
(20.00)
(40.00)
(60.00)
Tasa
15%
Ao
0
1
2
3
4
5
PA
-100
10
20
30
40
50
Vactual
91.27
8.70
15.12
19.73
22.87
24.86
PB
-100
50
40
30
20
10
Vactual
109.86
43.48
30.25
19.73
11.44
4.97
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%
VAN(A)
50.00
44.64
39.54
34.68
30.06
25.66
21.47
17.47
13.65
10.01
6.53
3.20
0.02
(3.03)
(5.94)
(8.73)
(11.40)
(13.96)
(16.42)
(18.77)
(21.03)
(23.20)
(25.29)
(27.29)
(29.22)
(31.07)
(32.85)
(34.57)
(36.22)
(37.81)
(39.35)
VAN(B)
50.00
46.57
43.27
40.10
37.04
34.10
31.27
28.54
25.91
23.37
20.92
18.55
16.27
14.06
11.92
9.86
7.86
5.92
4.05
2.23
0.47
(1.24)
(2.89)
(4.50)
(6.06)
(7.57)
(9.04)
(10.47)
(11.86)
(13.21)
(14.52)
B/C(A)
1.50
1.45
1.40
1.35
1.30
1.26
1.21
1.17
1.14
1.10
1.07
1.03
1.00
0.97
0.94
0.91
0.89
0.86
0.84
0.81
0.79
0.77
0.75
0.73
0.71
0.69
0.67
0.65
0.64
0.62
0.61
B/C(B)
1.50
1.47
1.43
1.40
1.37
1.34
1.31
1.29
1.26
1.23
1.21
1.19
1.16
1.14
1.12
1.10
1.08
1.06
1.04
1.02
1.00
0.99
0.97
0.96
0.94
0.92
0.91
0.90
0.88
0.87
0.85
VAN(A)
50.00
44.64
39.54
34.68
30.06
25.66
21.47
17.47
13.65
10.01
6.53
3.20
0.02
-3.03
-5.94
-8.73
-11.40
-13.96
-16.42
-18.77
-21.03
-23.20
-25.29
-27.29
-29.22
-31.07
-32.85
-34.57
-36.22
-37.81
-39.35
VAN(B)
40.00
36.57
33.27
30.10
27.04
24.10
21.27
18.54
15.91
13.37
10.92
8.55
6.27
4.06
1.92
-0.14
-2.14
-4.08
-5.95
-7.77
-9.53
-11.24
-12.89
-14.50
-16.06
-17.57
-19.04
-20.47
-21.86
-23.21
-24.52
12.0%
14.9%
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%
Proyectos alternativos
cok
10%
Ao
0
1
2
3
4
5
60.00
40.00
20.00
0.00
-20.00
-40.00
-60.00
PA
-100
10
20
30
40
50
PB
-110
50
40
30
20
10
10%
Inversion
Valor residual
Vida util
O&M
2120
200
5
9800
Equipo 1
Equipo 2
Inversion
Valor residual
Vida util
O&M
14000
3000
15
8500
-2120.0
124.2
-37149.7
-39145.5
Inversion
Residual
O&M
Valor presente
-14000.0
718.2
-64651.7
-77933.5
-10326.5
VAE 2
-10246.2
Equipo 1
Equipo 2
.. ..
14
15
COK
18%
0
-1240
0
0
0
0
0
0
0
-1240
1660.0
420.0
33.9%
15%
flujo de depreciacion
2
600
-100
-400
100
0
100
-30
70
470
800
-200
-400
200
0
200
-60
140
540
3
40
900
-200
-400
300
0
300
-90
210
650
470.0
540.0
650.0
Capital
0
1
2
3
1240
Flujo de amortizacin
Periodo
Inversion
Prestamo
Ingresos
Egresos
Ing-egr
Depreciacin
UAII
I
UAI
I (30%)
UN
f
0
-1240
1000
0
0
Prestamo
Interes
Vaf
VAN
rentabilidad
443.0
203.0
85%
TIRF
B/C
-240
30.0%
1.85
-405.7
600
-100
500.0
-400
100.0
0.0
100.0
-30.0
70.0
64.34
-405.7
800
-200
600.0
-400
200.0
0.0
200.0
-60.0
140.0
134.34
3
40
-405.7
900
-200
700.0
-400
300.0
0.0
300.0
-90.0
210.0
244.34
64.3
134.3
244.3
1000
10.5%
Capital
0
1000
1
594.3
2
188.7
3
-217.0
flujo de depreciacion
Capital
0
1
2
3
1240
preciacion
d
0
400
400
400
0
400
800
1200
0
840
440
40
mortizacin
Interes
amortiz
0
0.0
0.0
0.0
Cuota
0
405.7
405.7
405.7
0
405.7
405.7
405.7
preciacion
d
D
0
400
400
400
V
0
400
800
1200
0
840
440
40