Examen

PROBLEMA NUM 2.
1. CUAL ES EL MTODO DELVAN, DE LA MEJOR OPCION

PRESENTAR EL GRAFICO DE LOS VANs, LA TREMA, LA TASA DE RECUPERACION (
CUENTAS DE
BALANCE
PASIVO CORTO
PASIVO LARGO
CAPITAL
TOTAL
MONTO
AL 31/12/XX
COMPOSICION
PORCENTUAL
$980,000,000
$1,550,000,000
$2,900,000,000
$5,430,000,000
18.05%
28.55%
53.41%
100.00%
NOTA: LA TREMA PARA PROYECTOS DEL NIVEL DE INFLACIN Y RIESGO, DE LAS

SER: EL COSTO PROMEDIO DEL FINANCIAMIENTO +6 DE
TREMA
ALTERNATIVA A
AO
INVERSION
INGRESOS
GASTOS
VAL RECUP
FLUJO NETO
VPN
VAN
ALTERNATIVA B
AO
INVERSION
INGRESOS
GASTOS
VAL RECUP
FLUJO NETO
23.45%
0
-$2,000,000
1
$500,000
-$50,000
-$2,000,000
$310,198
$94,328
$450,000
0
-$2,400,000
1
$600,000
-$50,000
-$2,400,000
$550,000
VPN
VAN
$234,700
$67,561
ALTERNATIVA C
AO
INVERSION
INGRESOS
GASTOS
VAL RECUP
FLUJO NETO
VPN
VAN
0
-$2,950,000
1
$700,000
-$70,000
-$2,950,000
$86,636
$23,906
TASA
VPN A
19%
19.50%
20%
20.50%
21%
21.50%
22%
22.50%
23%
23.45%
24%
24.50%
25%
25.50%
26%
26.50%
27%
27.50%
28.14%
28.50%
29%
$630,000
VAN A
$678,425
$632,778
$588,291
$544,927
$502,653
$461,432
$421,234
$382,026
$343,778
$310,198
$270,045
$234,504
$199,813
$165,944
$132,875
$100,581
$69,039
$38,228
$0
-$21,288
-$50,033
$183,076
$173,147
$163,206
$153,253
$143,290
$133,315
$123,330
$113,334
$103,329
$94,328
$83,288
$73,253
$63,209
$53,156
$43,095
$33,025
$22,947
$12,861
$0
-$7,335
-$17,444
29.50%
-$78,128
-$27,560
TOTAL=
30
PUNTOS
DE RECUPERACION (TIR), Y TIEMPO DE RECUPERACION (TR), DE LA MEJOR OPCION ...

COSTO DE LA FUENTE
DE FINANCIAMIENTO
24%
20%
12%
4%
6%
6%
16.45% COSTO PROMEDIO DE FINANCIAMIENTO
N Y RIESGO, DE LAS ALTERNATIVAS A EVALUAR,

NANCIAMIENTO +6 DE INFLACIN +1 DE RIESGO
$600,000
-$60,000
$700,000
-$70,000
$800,000
-$80,000
$900,000
-$90,000
$540,000
$630,000
$720,000
$810,000
TIR
28.14% TR
3.55
$700,000
-$80,000
$800,000
-$110,000
$900,000
-$140,000
$1,000,000
-$170,000
$620,000
$690,000
$760,000
$830,000
TIR
26.34% TR
3.80
$800,000
-$100,000
$900,000
-$130,000
$1,000,000
-$160,000
$1,100,000
-$190,000
$700,000
$770,000
$840,000
$910,000
TIR
24%
VPN B
VAN B
$672,918
$618,243
$565,051
$513,293
$462,921
$413,888
$366,150
$319,664
$274,389
$234,700
$187,314
$145,440
$104,627
$64,842
$26,051
-$11,777
-$48,671
-$84,662
-$129,248
-$154,043
-$187,486
TR
VPN C
$170,171
$158,726
$147,258
$135,767
$124,255
$112,721
$101,167
$89,592
$77,998
$67,561
$54,751
$43,099
$31,430
$19,743
$8,039
-$3,682
-$15,420
-$27,173
-$42,169
-$50,726
-$62,524
$618,352
$551,594
$486,759
$200,000$423,780
$362,588
$150,000$303,121
$245,318
$100,000$189,121
$134,472
$86,636
$50,000
$29,610
-$20,705
$0
-$69,672
19%
20%
-$117,339
($50,000)
-$163,748
-$208,942
-$252,961
($100,000)
-$295,843
-$348,888
($150,000)
-$378,349
-$418,042
VAN C
$250,000
($200,000)
20%
$148,523
$134,658
$120,755
$106,816
$92,842
$78,833
$64,791
$50,717
$36,610
$23,906
$8,305
-$5,893
-$20,118
21%
21%
-$34,372
-$48,653
-$62,960
-$77,292
-$91,650
-$109,976
-$120,437
-$134,865
22%
22%
($150,000)
-$220,132
-$74,337
($200,000)
-$456,740
-$149,316
MEJOR OPCION ...
NANCIAMIENTO
$1,000,000
-$100,000
$900,000
$1,100,000
-$110,000
$800,000
$1,790,000
$1,100,000
-$200,000
$1,200,000
-$230,000
$900,000
$970,000
$1,300,000
-$260,000
$700,000
$1,740,000
AOS
1%
AOS
$1,200,000
-$220,000
$1,300,000
-$250,000
$1,400,000
-$280,000
$980,000
$1,050,000
$1,120,000
$1,500,000
-$310,000
$500,000
$1,690,000
4.12 AOS
Chart Title
TIR A=
28.14%
TREMA
= 23.45
VAN =
94,328
21%
22%
22%
23%
23%
23%
VAN A
24%
VAN B
25%
25%
VAN C
26%
26%
27%
27%
28%
28%
29%
VAN A
VAN B
VAN C
TIR A=
28.14%
27%
28%
28%
29%
29%
30%
PROBLEMA NUM 4. MTODO DE LA TASA INTERNA DE RE
A. CUAL ES LA MEJOR OPCIN SEGN EL MTODO DE TIR,

GRAFIQUE CUAL SON LOS VPNs DE LAS 5 OPCIONES ... EL VPN,TIR
Y CALCULE LAS TASAS DE RECUPERACIN (TIR) Y LOS TIEMPOS DE
SI VEMOS EL GRFICO, EL CONTRATISTA "B" TIENE LA TIR MAYOR;
CON UNA TREMA DE:
24.00%
B. CUAL ES LA MEJOR OPCIN SEGN EL MTODO DE TIR,

SI LA TREMA FUESE:
28.00%
C. CUAL ES LA MEJOR OPCIN SEGN EL MTODO DE TIR,

SI LA TREMA FUESE:
30.00%
24.00%
TREMA
CONTRATISTA A
AO
0
1,100,000
INVERSIN INGRESOS
COSTOS Y GASTOS
VALOR DE RECUPERACION
1,100,000
FLUJOS NET 40,753
VPN
300,000
100,000 -
350,000
120,000 -
400,000
140,000
200,000
230,000
260,000
CONTRATISTA B
AO
INVERSIN -
1,050,000
INGRESOS
COSTOS Y GASTOS
VALOR DE REC.
1,050,000
FLUJOS NET VPN
400,000
120,000 -
450,000
150,000 -
500,000
180,000
280,000
300,000
320,000
CONTRATISTA C
AO
0
1,600,000
INVERSIN INGRESOS
COSTOS Y GASTOS
VALOR DE REC.
1,600,000
FLUJOS NET VPN
400,000
120,000 -
500,000
140,000 -
600,000
160,000
280,000
360,000
440,000
CONTRATISTA D
AO
0
1,750,000
INVERSIN INGRESOS
COSTOS Y GASTOS
VALOR DE REC.
1,750,000
FLUJOS NET VPN
300,000
125,000 -
430,000
130,000 -
560,000
135,000
175,000
300,000
425,000
CONTRATISTA E
AO
1,900,000
INVERSIN INGRESOS
COSTOS Y GASTOS
VALOR DE REC.
1,900,000
FLUJOS NET VPN
450,000
100,000 -
550,000
120,000 -
650,000
140,000
350,000
430,000
510,000
CONTRATISTA F
AO
2,200,000
INVERSIN INGRESOS
COSTOS Y GASTOS
500,000
150,000 -
650,000
200,000 -
800,000
250,000
VALOR DE REC.
FLUJOS NET VPN
2,200,000
252,206
350,000
450,000
550,000
50,000
269,638
80,000
70,000
60,000
60,000
120,000
DIF B-A
VPN B-A
DIF C-B
VPN C-B
550,000
60,030
DIF D-C
VPN D-C
150,000 286,881
DIF E-C
VPN E-C
300,000
7,131
DIF F-C
VPN F-C
600,000
118,216
SELECCIONAMOS
FNE A
VPN A
FNE B
VPN B
FNE C
VPN C
FNE D
VPN D
FNE E
VPN E
FNE F
1,100,000
105,000 -
60,000 -
15,000
70,000
70,000
70,000
70,000
90,000
110,000
TREMA
200,000
230,000
260,000
TIR
1,050,000
280,000
300,000
320,000
TIR
1,600,000
280,000
360,000
440,000
TIR
1,750,000
175,000
300,000
425,000
TIR
1,900,000
350,000
430,000
510,000
TIR
2,200,000
350,000
450,000
550,000
VPN F
TASA
22%
23%
24.00%
25%
26%
27%
28%
29.40%
30%
31%
32%
33%
34%
35%
TIR
VPN A
135,610
86,732
40,753
-2,536
-43,329
-81,803
-118,119
-165,629
-184,870
-215,567
-244,639
-272,193
-298,328
-323,137
VPN B
VPN C
VPN D
418,138
540,914
243,236
362,642
453,048
161,017
310,391
370,422
83,540
261,151
292,657
10,476
214,706
219,406
-58,481
170,859
150,348
-123,611
129,429
85,191
-185,172
75,165
0
-265,823
53,167
-34,482
-298,521
18,040
-89,475
-350,733
-15,262
-141,527
-400,225
-46,858
-190,832
-447,172
-76,860
-237,570
-491,734
-105,370
-281,908
-534,062
A INTERNA DE RECUPERACIN
50
OPCIONES ... EL VPN,TIR Y TR DEL CONTRATISTA SELECCIONADO
(TIR) Y LOS TIEMPOS DE RECUPERACIN (TR)
B" TIENE LA TIR MAYOR; PORQUE QUE NO SELECCIONA? EXPLIQUE, CON PALBRAS Y
10
10
TOTAL =
70
PUNTOS
450,000
160,000 -
500,000
180,000 -
550,000
200,000 -
600,000
220,000 -
650,000
240,000
290,000
320,000
350,000
380,000
410,000
550,000
210,000 -
600,000
240,000 -
650,000
270,000 -
700,000
300,000 -
750,000
330,000
340,000
360,000
380,000
400,000
420,000
700,000
180,000 -
800,000
200,000 -
900,000
220,000 -
520,000
600,000
680,000
690,000
140,000 -
820,000
145,000 -
950,000
150,000 -
550,000
675,000
1,000,000
240,000 760,000
1,100,000
260,000
840,000
1,080,000
155,000 -
1,210,000
160,000
800,000
925,000
1,050,000
750,000
160,000 -
850,000
180,000 -
950,000
200,000 -
590,000
670,000
750,000
830,000
910,000
950,000
1,100,000
1,250,000
300,000 350,000 400,000 -
1,050,000
220,000 -
1,400,000
450,000 -
1,150,000
240,000
1,550,000
500,000
650,000
750,000
850,000
950,000
1,050,000
50,000
40,000
30,000
20,000
10,000
180,000
240,000
300,000
360,000
420,000
30,000
75,000
120,000
165,000
210,000
70,000
70,000
70,000
70,000
70,000
130,000
150,000
170,000
190,000
210,000
290,000
24.94%
320,000
350,000
380,000
410,000
4.01 AOS
340,000
31.54%
360,000
380,000
400,000
3
520,000
29.40%
600,000
680,000
760,000
840,000
3.40 AOS
550,000
25.15%
675,000
800,000
925,000
1,050,000
3.98 AOS
590,000
28.58%
670,000
750,000
830,000
910,000
3.50 AOS
650,000
750,000
850,000
950,000
24.00%
TR
TR
TR
TR
420,000
1,050,000
26.75%
VPN E
556,060
456,721
363,291
275,341
192,480
114,347
40,612
-55,821
-94,862
-157,139
-216,099
-271,962
-324,931
-375,194
TR
VPN F
463,617
354,671
252,206
155,755
64,887
-20,791
-101,643
-207,373
-250,175
-318,445
-383,073
-444,299
-502,347
-557,421
3.74 AOS
Chart Ti
TREMA :
24%
VPN C =
370,422
800,000
600,000
400,000
200,000
0
22%
23%
24%
25%
26%
27%
28%
-200,000
-400,000
-600,000
-800,000
VPN A
VPN B
VPN C
E, CON PALBRAS Y NMEROS
700,000
260,000
1,000,000
1,440,000
800,000
360,000
1,200,000
1,640,000
1,200,000
280,000
1,500,000
2,420,000
1,340,000
165,000
200,000
1,375,000
1,250,000
260,000
1,800,000
2,790,000
1,700,000
550,000
1,800,000
2,950,000
200,000
780,000
1,045,000
370,000
530,000
1,440,000
1,640,000
2,420,000
1,375,000
2,790,000
2,950,000
Chart Title
TREMA :
24%
VPN C =
370,422
26%
VPN B
27%
TIR C =
29.40
28%
VPN C
29%
VPN D
30%
31%
VPN E
32%
VPN F
33%
34%
35%

CON UNA TREMA DE:
24.00%

SI LA TREMA FUESE:
28.00%

SI LA TREMA FUESE:
30.00%
28.00%
TREMA
CONTRATISTA A
AO
0
1,100,000
INVERSIN INGRESOS
COSTOS Y GASTOS
1,100,000
FLUJOS NET 118,119
VPN
300,000
100,000 -
350,000
120,000 -
400,000
140,000
200,000
230,000
260,000
CONTRATISTA B
AO
INVERSIN -
1,050,000
INGRESOS
COSTOS Y GASTOS
VALOR DE REC.
1,050,000
FLUJOS NET 129,429
VPN
400,000
120,000 -
450,000
150,000 -
500,000
180,000
280,000
300,000
320,000
CONTRATISTA C
AO
0
1,600,000
INVERSIN INGRESOS
COSTOS Y GASTOS
VALOR DE REC.
1,600,000
FLUJOS NET VPN
400,000
120,000 -
500,000
140,000 -
600,000
160,000
280,000
360,000
440,000
CONTRATISTA D
AO
0
1,750,000
INVERSIN INGRESOS
COSTOS Y GASTOS
VALOR DE REC.
1,750,000
FLUJOS NET VPN
300,000
125,000 -
430,000
130,000 -
560,000
135,000
175,000
300,000
425,000
CONTRATISTA E
AO
1,900,000
INVERSIN INGRESOS
COSTOS Y GASTOS
VALOR DE REC.
1,900,000
FLUJOS NET VPN
450,000
100,000 -
550,000
120,000 -
650,000
140,000
350,000
430,000
510,000
CONTRATISTA F
AO
2,200,000
INVERSIN INGRESOS
COSTOS Y GASTOS
500,000
150,000 -
650,000
200,000 -
800,000
250,000
VALOR DE REC.
FLUJOS NET VPN
2,200,000
101,643
350,000
550,000
60,000
120,000
DIF C-B
VPN C-B
550,000
44,239
DIF D-B
VPN D-B
700,000 314,601
DIF E-B
VPN E-B
300,000
44,579
70,000
70,000
70,000
DIF F-B
VPN F-B
1,150,000
231,072
70,000
150,000
230,000
SELECCIONAMOS
450,000
105,000
105,000
TREMA
FNE A
VPN A
1,100,000
118,119
200,000
FNE B
VPN B
1,050,000
129,429
280,000
FNE C
VPN C
1,600,000
85,191
280,000
FNE D
VPN D
1,750,000
185,172
175,000
FNE E
VPN E
1,900,000
40,612
350,000
FNE F
2,200,000
350,000
230,000
260,000
TIR
300,000
320,000
TIR
360,000
440,000
TIR
300,000
425,000
TIR
430,000
510,000
TIR
450,000
550,000
VPN F
TASA
VPN A
20%
21%
22%
23%
24%
25%
26%
27%
28.00%
29%
30%
31.54%
32%
33%
34%
35%
101,643
243,006
187,618
135,610
86,732
40,753
-2,536
-43,329
-81,803
-118,119
-152,429
-184,870
-231,320
-244,639
-272,193
-298,328
-323,137
TIR
VPN B
VPN C
VPN D
539,909
734,063
423,372
477,134
634,436
330,557
418,138
540,914
243,236
362,642
453,048
161,017
310,391
370,422
83,540
261,151
292,657
10,476
214,706
219,406
-58,481
170,859
150,348
-123,611
129,429
85,191
-185,172
90,250
23,663
-243,402
53,167
-34,482
-298,521
0
-117,683
-377,545
-15,262
-141,527
-400,225
-46,858
-190,832
-447,172
-76,860
-237,570
-491,734
-105,370
-281,908
-534,062
50
10
10
TOTAL =
70
PUNTOS
450,000
160,000 -
500,000
180,000 -
550,000
200,000 -
600,000
220,000 -
650,000
240,000
290,000
320,000
350,000
380,000
410,000
550,000
210,000 -
600,000
240,000 -
650,000
270,000 -
700,000
300,000 -
750,000
330,000
340,000
360,000
380,000
400,000
420,000
700,000
180,000 -
800,000
200,000 -
900,000
220,000 -
520,000
600,000
680,000
690,000
140,000 -
820,000
145,000 -
950,000
150,000 -
550,000
675,000
1,000,000
240,000 760,000
1,100,000
260,000
840,000
1,080,000
155,000 -
1,210,000
160,000
800,000
925,000
1,050,000
750,000
160,000 -
850,000
180,000 -
950,000
200,000 -
590,000
670,000
750,000
830,000
910,000
950,000
1,100,000
1,250,000
300,000 350,000 400,000 -
1,050,000
220,000 -
1,400,000
450,000 -
1,150,000
240,000
1,550,000
500,000
650,000
750,000
850,000
950,000
1,050,000
180,000
240,000
300,000
360,000
420,000
210,000
315,000
420,000
525,000
630,000
70,000
70,000
70,000
70,000
70,000
310,000
390,000
470,000
550,000
630,000
290,000
24.94%
320,000
350,000
380,000
410,000
4.01 AOS
340,000
31.54%
360,000
380,000
400,000
3
520,000
29.40%
600,000
680,000
760,000
840,000
3.40 AOS
550,000
25.15%
675,000
800,000
925,000
1,050,000
3.98 AOS
590,000
28.58%
670,000
750,000
830,000
910,000
3.50 AOS
650,000
750,000
850,000
950,000
28.00%
TR
TR
TR
TR
420,000
1,050,000
26.75%
VPN E
774,373
661,774
556,060
456,721
363,291
275,341
192,480
114,347
40,612
-29,032
-94,862
-189,088
-216,099
-271,962
-324,931
-375,194
TR
VPN F
703,043
579,555
463,617
354,671
252,206
155,755
64,887
-20,791
-101,643
-178,002
-250,175
-353,467
-383,073
-444,299
-502,347
-557,421
3.74 AOS
Chart T
1,000,000
800,000
600,000
400,000
200,000
0
20%
21%
22%
23%
24%
25%
26%
27%
-200,000
-400,000
-600,000
-800,000
VPN A
VPN B
VPN C
700,000
260,000
1,000,000
1,440,000
800,000
360,000
1,200,000
1,640,000
1,200,000
280,000
1,500,000
2,420,000
1,340,000
165,000
200,000
1,375,000
1,250,000
260,000
1,800,000
2,790,000
1,700,000
550,000
1,800,000
2,950,000
780,000
265,000
370,000
1,310,000
1,440,000
1,640,000
2,420,000
1,375,000
2,790,000
2,950,000
Chart Title
TREMA :
28.00%
B=
VPN B TIR
:
31.54%
129,429
24%
25%
VPN B
26%
27%
VPN C
28%
VPN D
29%
30%
VPN E
32%
VPN F
32%
33%
34%
35%

CON UNA TREMA DE:
24.00%

SI LA TREMA FUESE:
28.00%

SI LA TREMA FUESE:
30.00%
30.00%
TREMA
CONTRATISTA A
AO
0
1,100,000
INVERSIN INGRESOS
COSTOS Y GASTOS
1,100,000
FLUJOS NET 184,870
VPN
300,000
100,000 -
350,000
120,000 -
400,000
140,000
200,000
230,000
260,000
CONTRATISTA B
AO
INVERSIN -
1,050,000
INGRESOS
COSTOS Y GASTOS
VALOR DE REC.
1,050,000
FLUJOS NET 53,167
VPN
400,000
120,000 -
450,000
150,000 -
500,000
180,000
280,000
300,000
320,000
CONTRATISTA C
AO
0
1,600,000
INVERSIN INGRESOS
COSTOS Y GASTOS
VALOR DE REC.
1,600,000
FLUJOS NET VPN
400,000
120,000 -
500,000
140,000 -
600,000
160,000
280,000
360,000
440,000
CONTRATISTA D
AO
0
1,750,000
INVERSIN INGRESOS
COSTOS Y GASTOS
VALOR DE REC.
1,750,000
FLUJOS NET VPN
300,000
125,000 -
430,000
130,000 -
560,000
135,000
175,000
300,000
425,000
CONTRATISTA E
AO
1,900,000
INVERSIN INGRESOS
COSTOS Y GASTOS
VALOR DE REC.
1,900,000
FLUJOS NET VPN
450,000
100,000 -
550,000
120,000 -
650,000
140,000
350,000
430,000
510,000
CONTRATISTA F
AO
2,200,000
INVERSIN INGRESOS
COSTOS Y GASTOS
500,000
150,000 -
650,000
200,000 -
800,000
250,000
VALOR DE REC.
FLUJOS NET VPN
2,200,000
250,175
350,000
450,000
550,000
60,000
120,000
DIF C-B
VPN C-B
550,000
87,649
DIF D-B
VPN D-B
700,000 351,688
DIF E-B
VPN E-B
300,000
60,380
70,000
70,000
70,000
DIF F-B
VPN F-B
1,150,000
303,342
70,000
150,000
230,000
DIF A-B
DIF A-B
50,000 238,037
SELECCIONAMOS
105,000
80,000 -
105,000
70,000 -
60,000
TREMA
FNE A
VPN A
1,100,000
184,870
200,000
FNE B
VPN B
1,050,000
53,167
280,000
FNE C
VPN C
1,600,000
34,482
280,000
FNE D
VPN D
1,750,000
298,521
175,000
FNE E
VPN E
1,900,000
94,862
350,000
FNE F
2,200,000
350,000
230,000
260,000
TIR
300,000
320,000
TIR
360,000
440,000
TIR
300,000
425,000
TIR
430,000
510,000
TIR
450,000
550,000
VPN F
TASA
VPN A
20%
21%
22%
23%
24%
25%
26%
27%
28%
29%
30.00%
31.54%
32%
33%
34%
35%
250,175
243,006
187,618
135,610
86,732
40,753
-2,536
-43,329
-81,803
-118,119
-152,429
-184,870
-231,320
-244,639
-272,193
-298,328
-323,137
TIR
VPN B
VPN C
VPN D
539,909
734,063
423,372
477,134
634,436
330,557
418,138
540,914
243,236
362,642
453,048
161,017
310,391
370,422
83,540
261,151
292,657
10,476
214,706
219,406
-58,481
170,859
150,348
-123,611
129,429
85,191
-185,172
90,250
23,663
-243,402
53,167
-34,482
-298,521
0
-117,683
-377,545
-15,262
-141,527
-400,225
-46,858
-190,832
-447,172
-76,860
-237,570
-491,734
-105,370
-281,908
-534,062
50
10
10
TOTAL =
70
PUNTOS
450,000
160,000 -
500,000
180,000 -
550,000
200,000 -
600,000
220,000 -
650,000
240,000
290,000
320,000
350,000
380,000
410,000
550,000
210,000 -
600,000
240,000 -
650,000
270,000 -
700,000
300,000 -
750,000
330,000
340,000
360,000
380,000
400,000
420,000
700,000
180,000 -
800,000
200,000 -
900,000
220,000 -
520,000
600,000
680,000
690,000
140,000 -
820,000
145,000 -
950,000
150,000 -
550,000
675,000
1,000,000
240,000 760,000
1,100,000
260,000
840,000
1,080,000
155,000 -
1,210,000
160,000
800,000
925,000
1,050,000
750,000
160,000 -
850,000
180,000 -
950,000
200,000 -
590,000
670,000
750,000
830,000
910,000
950,000
1,100,000
1,250,000
300,000 350,000 400,000 -
1,050,000
220,000 -
1,400,000
450,000 -
1,150,000
240,000
1,550,000
500,000
650,000
750,000
850,000
950,000
1,050,000
180,000
240,000
300,000
360,000
420,000
210,000
315,000
420,000
525,000
630,000
70,000
70,000
70,000
70,000
70,000
310,000
390,000
470,000
550,000
630,000
50,000 -
40,000 -
30,000 -
20,000 -
10,000
30.00%
290,000
24.94%
320,000
350,000
380,000
410,000
4.01 AOS
340,000
31.54%
360,000
380,000
400,000
3
520,000
29.40%
600,000
680,000
760,000
840,000
3.40 AOS
550,000
25.15%
675,000
800,000
925,000
1,050,000
3.98 AOS
590,000
28.58%
670,000
750,000
830,000
910,000
3.50 AOS
650,000
750,000
850,000
950,000
TR
TR
TR
TR
420,000
1,050,000
26.75%
VPN E
774,373
661,774
556,060
456,721
363,291
275,341
192,480
114,347
40,612
-29,032
-94,862
-189,088
-216,099
-271,962
-324,931
-375,194
TR
VPN F
703,043
579,555
463,617
354,671
252,206
155,755
64,887
-20,791
-101,643
-178,002
-250,175
-353,467
-383,073
-444,299
-502,347
-557,421
3.74 AOS
Chart Title
1,000,000
800,000
600,000
400,000
200,000
0
20%
21%
22%
23%
24%
25%
26%
27%
28%
-200,000
-400,000
-600,000
-800,000
VPN A
VPN B
VPN C
VPN D
29
700,000
260,000
1,000,000
1,440,000
800,000
360,000
1,200,000
1,640,000
1,200,000
280,000
1,500,000
2,420,000
1,340,000
165,000
200,000
1,375,000
1,250,000
260,000
1,800,000
2,790,000
1,700,000
550,000
1,800,000
2,950,000
780,000
265,000
370,000
1,310,000
200,000
1,440,000
1,640,000
2,420,000
1,375,000
2,790,000
2,950,000
Chart Title
TREMA
=
30.00%
VPN TIR
=B =31.54%
53,167
25%
26%
27%
VPN C
28%
VPN D
29%
30%
VPN E
32%
32%
VPN F
33%
34%
35%

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PROBLEMA NUM 2.

1. CUAL ES EL MTODO DELVAN, DE LA MEJOR OPCION

NOTA: LA TREMA PARA PROYECTOS DEL NIVEL DE INFLACIN Y RIESGO, DE LAS

DE RECUPERACION (TIR), Y TIEMPO DE RECUPERACION (TR), DE LA MEJOR OPCION ...

N Y RIESGO, DE LAS ALTERNATIVAS A EVALUAR,

MEJOR OPCION ...

PROBLEMA NUM 4. MTODO DE LA TASA INTERNA DE RE

A. CUAL ES LA MEJOR OPCIN SEGN EL MTODO DE TIR,

B. CUAL ES LA MEJOR OPCIN SEGN EL MTODO DE TIR,

C. CUAL ES LA MEJOR OPCIN SEGN EL MTODO DE TIR,

E, CON PALBRAS Y NMEROS

PROBLEMA NUM 4. MTODO DE LA TASA INTERNA DE RE

A. CUAL ES LA MEJOR OPCIN SEGN EL MTODO DE TIR,

B. CUAL ES LA MEJOR OPCIN SEGN EL MTODO DE TIR,

C. CUAL ES LA MEJOR OPCIN SEGN EL MTODO DE TIR,

E, CON PALBRAS Y NMEROS

PROBLEMA NUM 4. MTODO DE LA TASA INTERNA DE RE

A. CUAL ES LA MEJOR OPCIN SEGN EL MTODO DE TIR,

B. CUAL ES LA MEJOR OPCIN SEGN EL MTODO DE TIR,

C. CUAL ES LA MEJOR OPCIN SEGN EL MTODO DE TIR,

E, CON PALBRAS Y NMEROS

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