Ejercicio N 1

Prstamo
Cuotas iguales
Tasa

N Cuota

62,376,000

Item

Interes

Amortizacion

Deuda residual

6
5%

62,376,000

12,289,162

3,118,800

9,170,362

53,205,638

12,289,162

2,660,282

9,628,880

43,576,759

12,289,162

2,178,838

10,110,324

33,466,435

12,289,162

1,673,322

10,615,840

22,850,595

12,289,162

1,142,530

11,146,632

11,703,963

12,289,162

585,198

11,703,963

Periodos (aos)
5

751,694
2,391
3,623
1,939

1,002,819
3,176
4,806
2,563

1,253,944
3,961
5,990
3,187

1,505,069
4,746
7,173
3,812

15,000
12,500
7,500

15,450
12,875
7,725

15,914
13,261
7,957

Ingreso Wakeboard
Ingreso Esqui Acuatico
Ingreso Bana Acuatica

35,861,932
45,287,277
14,540,335

49,066,298
61,880,895
19,799,237

Costos de Marketing
Costo de roltalty
Derecho de Muelle
costo de operacin
Remuneraciones+asignaciones
Inters Prestamo

10,000,000
3,827,582
350,000
45,472,331
51,956,895
3,118,800
600,000
1,300,000
400,000
648,000
400,000
637,500

Flujo de turistas
Demanda de Wakeboard
Demanda de Esqui Acuatico
Demanda de Banana Acuatica
Precio de venta Wakeboard
Precio de Venta Esqui Acuatico
Precio Venta Banana Acuatica

Depreciacin Oficinas
Depreciacin lanchas
Depreciacin Esquies
Depreciacin Banana
Deprecian equip. Comp.
Depreciacin Muebles y otros

10

1,756,194
5,531
8,356
4,436

2,007,319
6,632
10,016
5,313

2,258,444
7,456
11,259
5,969

2,509,569
8,280
12,501
6,624

2,760,694
9,104
13,744
7,280

3,011,819
9,929
14,986
7,935

16,391
13,659
8,195

16,883
14,069
8,441

17,389
14,491
8,695

17,911
14,926
8,955

18,448
15,373
9,224

19,002
15,835
9,501

19,572
16,310
9,786

63,030,651
79,429,373
25,360,587

77,788,706
97,975,066
31,237,799

93,375,516
117,562,014
37,444,819

115,318,901
145,147,801
46,195,954

133,541,747
168,046,853
53,452,196

152,754,177
192,189,216
61,102,236

172,999,165
217,628,877
69,163,172

194,321,374
244,421,948
77,652,772

10,000,000
5,229,857
350,000
60,296,901
52,307,464
2,660,282

10,000,000
6,712,824
350,000
75,121,471
52,678,206
2,178,838

5,500,000
8,280,063
350,000
89,946,040
53,070,016
1,673,322

5,500,000
9,935,294
350,000
104,770,610
53,483,823
1,673,322

5,500,000
11,039,856
350,000
125,574,939
54,066,627
1,142,530

5,500,000
12,781,469
350,000
141,140,737
54,550,408
585,198

5,500,000
14,617,643
350,000
156,706,535
55,060,456

5,500,000
16,552,484
350,000
172,272,333
55,597,912

5,500,000
18,590,259
350,000
187,838,132
56,163,961

600,000
1,300,000
400,000
648,000
400,000
637,500

600,000
1,300,000
400,000
648,000
400,000
637,500

600,000
1,300,000
400,000
648,000
400,000
637,500

600,000
1,300,000
400,000
648,000
400,000
637,500

600,000
1,300,000
400,000
648,000
400,000
637,500

600,000
1,300,000
400,000
648,000
400,000
637,500

600,000
1,300,000
400,000
648,000
400,000
637,500

600,000
1,300,000
400,000
648,000
400,000
637,500

600,000
1,300,000
400,000
648,000
400,000
637,500

Valor libro lanchas

6,666,667

Utilidad Antes de Impuesto

Impuesto (15%)
Utilidad despues de impuesto

23,021,566 -

4,083,574

16,793,772

23,021,566 -

4,083,574

16,793,772

44,196,630
5,082,789
39,113,841

68,683,800
10,302,570
58,381,230

105,003,206
15,750,481
89,252,725

136,147,485
20,422,123
115,725,362

169,825,495
25,473,824
144,351,671

205,532,985
30,829,948
174,703,038

237,301,576
35,595,236
201,706,339

600,000
1,300,000
400,000
648,000
400,000
637,500

600,000
1,300,000
400,000
648,000
400,000
637,500

600,000
1,300,000
400,000
648,000
400,000
637,500

600,000
1,300,000
400,000
648,000
400,000
637,500

600,000
1,300,000
400,000
648,000
400,000
637,500

600,000
1,300,000
400,000
648,000
400,000
637,500

600,000
1,300,000
400,000
648,000
400,000
637,500

600,000
1,300,000
400,000
648,000
400,000
637,500

600,000
1,300,000
400,000
648,000
400,000
637,500

Depreciacin Oficinas
Depreciacin lanchas
Depreciacin Esquies
Depreciacin Banana
Depreciacin equip. Comp.
Depreciacin Muebles y otros

600,000
1,300,000
400,000
648,000
400,000
637,500

Venta Terreno
Venta de Oficinas
Venta Lanchas
Venta de Banana
Venta Equip. Comput.
Venta de muebles y otros

58,000,000
54,000,000
7,000,000
360,000
500,000
1,125,000

360,000
500,000

Valor Libros Lanchas

6,666,667

Inversin terreno
Inversin construccin
Inversin Lanchas
Inversin Esquies
Inversin Banana
Inversin equipamiento comp.
Inversin Muebles y otros
Inversin Capital de trabajo

40,000,000
60,000,000
20,000,000
2,000,000
3,600,000
2,500,000
7,500,000
20,340,000

Prstamo
Amortizacin de la Deuda
Recuperacin Capital Trabajo

62,376,000

Flujo Neto
Van (15%)
TIR

2,000,000
3,600,000
2,500,000

12,289,162

12,289,162

12,289,162

12,289,162

12,289,162

12,289,162
20,340,000

93,564,000 167,686,454
29%

31,325,227 -

12,387,235

8,490,110

30,810,179

42,837,568

80,949,064

119,710,862

148,337,171

178,688,538

299,670,173

Sin prestamo

Item

Periodos (aos)
5

10

751,694
2,391
3,623
1,939

1,002,819
3,176
4,806
2,563

1,253,944
3,961
5,990
3,187

1,505,069
4,746
7,173
3,812

1,756,194
5,531
8,356
4,436

2,007,319
6,632
10,016
5,313

2,258,444
7,456
11,259
5,969

2,509,569
8,280
12,501
6,624

2,760,694
9,104
13,744
7,280

3,011,819
9,929
14,986
7,935

15,000
12,500
7,500

15,450
12,875
7,725

15,914
13,261
7,957

16,391
13,659
8,195

16,883
14,069
8,441

17,389
14,491
8,695

17,911
14,926
8,955

18,448
15,373
9,224

19,002
15,835
9,501

19,572
16,310
9,786

Ingreso Wakeboard
Ingreso Esqui Acuatico
Ingreso Bana Acuatica

35,861,932
45,287,277
14,540,335

49,066,298
61,880,895
19,799,237

63,030,651
79,429,373
25,360,587

77,788,706
97,975,066
31,237,799

93,375,516
117,562,014
37,444,819

115,318,901
145,147,801
46,195,954

133,541,747
168,046,853
53,452,196

152,754,177
192,189,216
61,102,236

172,999,165
217,628,877
69,163,172

194,321,374
244,421,948
77,652,772

Costos de Marketing
Costo de roltalty
Derecho de Muelle
costo de operacin
Remuneraciones+asignaciones
Inters Prestamo

10,000,000
3,827,582
350,000
45,472,331
51,956,895
-

10,000,000
5,229,857
350,000
60,296,901
52,307,464
-

10,000,000
6,712,824
350,000
75,121,471
52,678,206
-

5,500,000
8,280,063
350,000
89,946,040
53,070,016
-

5,500,000
9,935,294
350,000
104,770,610
53,483,823
-

5,500,000
11,039,856
350,000
125,574,939
54,066,627
-

5,500,000
12,781,469
350,000
141,140,737
54,550,408
-

5,500,000
14,617,643
350,000
156,706,535
55,060,456
-

5,500,000
16,552,484
350,000
172,272,333
55,597,912
-

5,500,000
18,590,259
350,000
187,838,132
56,163,961
-

600,000
1,300,000
400,000
648,000
400,000
637,500

600,000
1,300,000
400,000
648,000
400,000
637,500

600,000
1,300,000
400,000
648,000
400,000
637,500

600,000
1,300,000
400,000
648,000
400,000
637,500

600,000
1,300,000
400,000
648,000
400,000
637,500

600,000
1,300,000
400,000
648,000
400,000
637,500

600,000
1,300,000
400,000
648,000
400,000
637,500

600,000
1,300,000
400,000
648,000
400,000
637,500

600,000
1,300,000
400,000
648,000
400,000
637,500

600,000
1,300,000
400,000
648,000
400,000
637,500

70,357,122
4,924,999
65,432,123

106,145,736
7,430,202
98,715,534

136,732,683
9,571,288
127,161,396

169,825,495
11,887,785
157,937,711

205,532,985
14,387,309
191,145,676

237,301,576
16,611,110
220,690,465

600,000
1,300,000
400,000
648,000
400,000
637,500

600,000
1,300,000
400,000
648,000
400,000
637,500

600,000
1,300,000
400,000
648,000
400,000
637,500

600,000
1,300,000
400,000
648,000
400,000
637,500

600,000
1,300,000
400,000
648,000
400,000
637,500

600,000
1,300,000
400,000
648,000
400,000
637,500

Flujo de turistas
Demanda de Wakeboard
Demanda de Esqui Acuatico
Demanda de Banana Acuatica
Precio de venta Wakeboard
Precio de Venta Esqui Acuatico
Precio Venta Banana Acuatica

Depreciacin Oficinas
Depreciacin lanchas
Depreciacin Esquies
Depreciacin Banana
Deprecian equip. Comp.
Depreciacin Muebles y otros
Valor libro lanchas

6,666,667

Utilidad Antes de Impuesto

Impuesto (7%)
Utilidad despues de impuesto

19,902,766 -

1,423,292

18,972,610

19,902,766 -

1,423,292

18,972,610

45,869,952
3,046,155
42,823,797

600,000
1,300,000
400,000
648,000
400,000
637,500

600,000
1,300,000
400,000
648,000
400,000
637,500

600,000
1,300,000
400,000
648,000
400,000
637,500

Depreciacin Oficinas
Depreciacin lanchas
Depreciacin Esquies
Depreciacin Banana
Depreciacin equip. Comp.
Depreciacin Muebles y otros

600,000
1,300,000
400,000
648,000
400,000
637,500

Venta Terreno
Venta de Oficinas
Venta Lanchas
Venta de Banana
Venta Equip. Comput.
Venta de muebles y otros

58,000,000
54,000,000
7,000,000
360,000
500,000
1,125,000

360,000
500,000

Valor Libros Lanchas

6,666,667

Inversin terreno
Inversin construccin
Inversin Lanchas
Inversin Esquies
Inversin Banana
Inversin equipamiento comp.
Inversin Muebles y otros
Inversin Capital de trabajo

40,000,000
60,000,000
20,000,000
2,000,000
3,600,000
2,500,000
7,500,000
20,340,000

Prstamo
Amortizacin de la Deuda
Recuperacin Capital Trabajo

Flujo Neto
Van (15%)
TIR

2,000,000
3,600,000
2,500,000

20,340,000

155,940,000 185,799,642
28%

15,917,266

2,562,208

22,958,110

46,809,297

62,177,623

102,701,034

131,146,896

161,923,211

195,131,176

318,654,299