CASO DE ESTUDIO 2 EVALUACION FINANCIERA SISTEMA DE BOMBEO

FLUJO DE FONDOS SIN AJUSTAR

Tasa de oportunidad 6%

MES 1 2 3
FN -$ 20,000.00 -$ 35,750.00 -$ 35,750.00

FLUJO DE FONDOS AJUSTADO

$ 12.00 $ 13.00

MES 0 1 2
FN -$ 335,700.00 -$ 25,550.00 -$ 18,370.00
VP -$ 335,700.00 -$ 24,103.77 -$ 16,349.23
VPN -$ 411,407.33 Segunda Manera vpn -$ 411,407.33
VNA -$ 75,707.33
TIR -24.29%
PRI -$ 335,700.00 -$ 361,250.00 -$ 379,620.00

GRAFICA
Tasa VNA VPN
0% -$ 81,292.00 -$ 416,992.00
1% -$ 80,871.07 -$ 416,571.07
2% -$ 80,178.07 -$ 415,878.07
3% -$ 79,271.27 -$ 414,971.27
4% -$ 78,198.70 -$ 413,898.70
5% -$ 76,999.89 -$ 412,699.89
6% -$ 75,707.33 -$ 411,407.33
7% -$ 74,347.63 -$ 410,047.63
8% -$ 72,942.58 -$ 408,642.58
9% -$ 71,509.91 -$ 407,209.91
10% -$ 70,064.02 -$ 405,764.02
11% -$ 68,616.50 -$ 404,316.50
12% -$ 67,176.67 -$ 402,876.67
13% -$ 65,751.91 -$ 401,451.91
14% -$ 64,348.06 -$ 400,048.06
15% -$ 62,969.60 -$ 398,669.60
16% -$ 61,619.97 -$ 397,319.97
17% -$ 60,301.71 -$ 396,001.71
18% -$ 59,016.62 -$ 394,716.62
19% -$ 57,765.92 -$ 393,465.92
20% -$ 56,550.32 -$ 392,250.32
21% -$ 55,370.17 -$ 391,070.17
22% -$ 54,225.47 -$ 389,925.47
 23% -$ 53,115.96 -$ 388,815.96
24% -$ 52,041.21 -$ 387,741.21
25% -$ 51,000.61 -$ 386,700.61

PREGUNTA B
PROYECTO CON FINANCIAMIENTO DE (80% inversion)
VP (Valor préstamo) $ 268,560.00
Iea (Tasa efectiva anual) 24%
n (períodos pago préstamo) 13
Im (tasa nominal-mensual) 0.0180875824835107
EA (Valor cuota mensual) $ 23,367.78 Valor total pagado=

MES 0 1
FN -$ 335,700.00 -$ 25,550.00
DESEMBOLSO PRESTAMO $ 268,560.00

AMORTIZACION PRESTAMO $ 23,367.78

FN CON FINANCIAMIENTO -$ 67,140.00 -$ 48,917.78

VP -$ 67,140.00 -$ 46,148.85
VPN -$ 349,714.90
VNA -$ 282,574.90
VPN -$ 349,714.90
TIR Err:523
PRI -$ 67,140.00 -$ 116,057.78

TASA VNA VPN

0% -$ 385,073.18 -$ 452,213.18
1% -$ 364,409.67 -$ 431,549.67
2% -$ 345,364.40 -$ 412,504.40
3% -$ 327,786.60 -$ 394,926.60
4% -$ 311,541.16 -$ 378,681.16
5% -$ 296,506.87 -$ 363,646.87
6% -$ 282,574.90 -$ 349,714.90
7% -$ 269,647.40 -$ 336,787.40
8% -$ 257,636.30 -$ 324,776.30
9% -$ 246,462.26 -$ 313,602.26
10% -$ 236,053.70 -$ 303,193.70
11% -$ 226,346.00 -$ 293,486.00
12% -$ 217,280.75 -$ 284,420.75
13% -$ 208,805.08 -$ 275,945.08
14% -$ 200,871.09 -$ 268,011.09
15% -$ 193,435.37 -$ 260,575.37
 4 5 6 7
-$ 11,400.00 -$ 11,400.00 -$ 76,500.00 -$ 76,500.00

$ 14.00 $ 15.00 $ 16.00 $ 17.00

FLUJO NETO
3 4 5 6
-$ 11,125.00 -$ 9,125.00 -$ 9,125.00 -$ 9,125.00
-$ 9,340.76 -$ 7,227.85 -$ 6,818.73 -$ 6,432.76

-$ 390,745.00 -$ 399,870.00 -$ 408,995.00 -$ 418,120.00

Proyecto sin financimiento

($370,000.00)
0% 1% 2% 3% 4% 5% 6% 7% 8% 9% 10% 11% 12% 13% 14% 15%
($375,000.00)

($380,000.00)

($385,000.00)

($390,000.00)
VPN

($395,000.00)

($400,000.00)

($405,000.00)

($410,000.00)

($415,000.00)

($420,000.00)

TASA
 ($415,000.00)

($420,000.00)

TASA

PREGUNTA B

$ 303,781.18

FLUJO NETO
2 3 4 5
-$ 18,370.00 -$ 11,125.00 -$ 9,125.00 -$ 9,125.00

$ 23,367.78 $ 23,367.78 $ 23,367.78 $ 23,367.78

-$ 41,737.78 -$ 34,492.78 -$ 32,492.78 -$ 32,492.78

-$ 37,146.48 -$ 28,960.81 -$ 25,737.33 -$ 24,280.50

-$ 157,795.57 -$ 192,288.35 -$ 224,781.13 -$ 257,273.92

Proyecto con financimiento

$0.00
0% 1% 2% 3% 4% 5% 6% 7% 8% 9%
($50,000.00)

($100,000.00)

($150,000.00)

($200,000.00)
VPN

($250,000.00)

($300,000.00)

($350,000.00)

($400,000.00)
VPN
($250,000.00)

($300,000.00)

($350,000.00)

($400,000.00)

($450,000.00)

($500,000.00)

TASA
 FLUJO NETO
8 9 10 11
-$ 10,250.00 -$ 10,250.00 -$ 17,750.00 -$ 30,150.00

$ 18.00 $ 19.00 $ 20.00 $ 21.00

FLUJO NETO
7 8 9 10
-$ 9,125.00 -$ 9,125.00 -$ 9,125.00 -$ 9,125.00
-$ 6,068.65 -$ 5,725.14 -$ 5,401.07 -$ 5,095.35

-$ 427,245.00 -$ 436,370.00 -$ 445,495.00 -$ 454,620.00

EL PROYECTO SIN FINANCIAMIENTO ES MAS CONVENIENTE

ecto sin financimiento

% 10% 11% 12% 13% 14% 15% 16% 17% 18% 19% 20% 21% 22% 23% 24% 25%

TASA
 TASA

FLUJO NETO
6 7 8 9
-$ 9,125.00 -$ 9,125.00 -$ 9,125.00 -$ 9,125.00

$ 23,367.78 $ 23,367.78 $ 23,367.78 $ 23,367.78

-$ 32,492.78 -$ 32,492.78 -$ 32,492.78 -$ 32,492.78

-$ 22,906.13 -$ 21,609.56 -$ 20,386.37 -$ 19,232.43

-$ 289,766.70 -$ 322,259.48 -$ 354,752.26 -$ 387,245.05

ecto con financimiento

6% 7% 8% 9% 10% 11% 12% 13% 14% 15%

TASA
 FLUJO NETO
12 13 14 15
-$ 25,550.00 -$ 18,370.00 -$ 11,125.00 -$ 9,125.00

$ 22.00 $ 23.00 $ 24.00

11 12 13
-$ 9,125.00 -$ 9,125.00 $ 55,878.00
-$ 4,806.94 -$ 4,534.85 $ 26,197.79

-$ 463,745.00 -$ 472,870.00 -$ 416,992.00

ENTO ES MAS CONVENIENTE

Proyecto con financimiento

$0.00
0% 1% 2% 3% 4% 5% 6% 7% 8% 9% 10% 11% 12% 13% 14% 15% 16% 17%
($100,000.00)

($200,000.00)

($300,000.00)

($400,000.00)
VPN

($500,000.00)

($600,000.00)

($700,000.00)

($800,000.00)

($900,000.00) proyecto con financiamiento

($1,000,000.00)

TASA
 ($800,000.00)

($900,000.00) proyecto con financiamiento

($1,000,000.00)

TASA

10 11 12 13
-$ 9,125.00 -$ 9,125.00 -$ 9,125.00 $ 55,878.00

$ 23,367.78 $ 23,367.78 $ 23,367.78 $ 23,367.78

-$ 32,492.78 -$ 32,492.78 -$ 32,492.78 $ 32,510.22

-$ 18,143.80 -$ 17,116.79 -$ 16,147.92 $ 15,242.06

-$ 419,737.83 -$ 452,230.61 -$ 484,723.40 -$ 452,213.18

 16 17 18 19 20
-$ 9,125.00 -$ 9,125.00 -$ 9,125.00 -$ 9,125.00 -$ 9,125.00

financimiento

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

proyecto sin financiamiento

TASA
 proyecto sin financiamiento

TASA
 21 22 23 24
-$ 9,125.00 -$ 9,125.00 -$ 9,125.00 $ 55,878.00
CASO DE ESTUDIO 2 EVALUACION FINANCIERA SISTEMA DE BOMBEO

FLUJO DE FONDOS SIN AJUSTAR

Tasa de oportunidad 6%

MES 1 2 3
FN -$ 27,600,000.00 -$ 19,600,000.00 -$ 343,440,000.00

FLUJO DE FONDOS AJUSTADO

MES 0 1 2
FN -$ 390,640,000.00 $ 361,079,526.67 $ 361,079,526.67
VP -$ 390,640,000.00 $ 340,641,062.89 $ 321,359,493.30
VPN $ 3,971,376,131.24 Segunda Manera vpn $ 3,971,376,131.24
VNA $ 4,362,016,131.24
TIR 81.55%
PRI -$ 390,640,000.00 -$ 29,560,473.33 $ 331,519,053.33

GRAFICA
Tasa VNA VPN
0% $ 5,158,293,373.33 $ 4,767,653,373.33
1% $ 4,786,947,016.72 $ 4,396,307,016.72
2% $ 4,452,707,208.75 $ 4,062,067,208.75
3% $ 4,151,212,363.95 $ 3,760,572,363.95
4% $ 3,878,672,529.15 $ 3,488,032,529.15
5% $ 3,631,787,931.63 $ 3,241,147,931.63
6% $ 3,407,679,963.28 $ 3,017,039,963.28
7% $ 3,203,832,585.33 $ 2,813,192,585.33
8% $ 3,018,042,482.99 $ 2,627,402,482.99
9% $ 2,848,376,581.36 $ 2,457,736,581.36
10% $ 2,693,135,766.94 $ 2,302,495,766.94
15% $ 2,086,654,817.90 $ 1,696,014,817.90
20% $ 1,676,742,051.12 $ 1,286,102,051.12
25% $ 1,388,244,869.20 $ 997,604,869.20
30% $ 1,177,769,420.60 $ 787,129,420.60
35% $ 1,019,284,016.57 $ 628,644,016.57
40% $ 896,607,878.95 $ 505,967,878.95
45% $ 799,346,776.46 $ 408,706,776.46
50% $ 720,617,509.32 $ 329,977,509.32
55% $ 655,732,581.06 $ 265,092,581.06
60% $ 601,416,805.47 $ 210,776,805.47
65% $ 555,327,470.83 $ 164,687,470.83
70% $ 515,752,627.58 $ 125,112,627.58
 75% $ 481,416,668.84 $ 90,776,668.84
80% $ 451,352,148.27 $ 60,712,148.27
85% $ 424,813,445.29 $ 34,173,445.29

PREGUNTA B
PROYECTO CON FINANCIAMIENTO DE (80% inversion)
VP (Valor préstamo) $ 312,512,000.00
Iea (Tasa efectiva anual) 24%
n (períodos pago préstamo) 21
Im (tasa nominal-mensual) 0.0180875824835107
EA (Valor cuota mensual) $ 18,018,906.95 Valor total pagado=

MES 0 1
FN -$ 390,640,000.00 $ 361,079,526.67
DESEMBOLSO PRESTAMO $ 312,512,000.00

AMORTIZACION PRESTAMO $ 18,018,906.95

FN CON FINANCIAMIENTO -$ 78,128,000.00 $ 361,079,526.67

VP -$ 78,128,000.00 $ 340,641,062.89
VPN $ 4,283,888,131.24
VNA $ 4,362,016,131.24
VPN $ 4,283,888,131.24
TIR 462.16%
PRI -$ 78,128,000.00 $ 282,951,526.67

TASA VNA VPN

0% $ 5,158,293,373.33 $ 5,080,165,373.33
1% $ 4,786,947,016.72 $ 4,708,819,016.72
2% $ 4,452,707,208.75 $ 4,374,579,208.75
3% $ 4,151,212,363.95 $ 4,073,084,363.95
4% $ 3,878,672,529.15 $ 3,800,544,529.15
5% $ 3,631,787,931.63 $ 3,553,659,931.63
10% $ 2,693,135,766.94 $ 2,615,007,766.94
15% $ 2,086,654,817.90 $ 2,008,526,817.90
20% $ 1,676,742,051.12 $ 1,598,614,051.12
25% $ 1,388,244,869.20 $ 1,310,116,869.20
30% $ 1,177,769,420.60 $ 1,099,641,420.60
35% $ 1,019,284,016.57 $ 941,156,016.57
40% $ 896,607,878.95 $ 818,479,878.95
45% $ 799,346,776.46 $ 721,218,776.46
50% $ 720,617,509.32 $ 642,489,509.32
55% $ 655,732,581.06 $ 577,604,581.06
60% $ 601,416,805.47 $ 523,288,805.47
70% $ 515,752,627.58 $ 437,624,627.58
80% $ 451,352,148.27 $ 373,224,148.27
 4 5 6 7
$ 361,079,526.67 $ 361,079,526.67 $ 361,079,526.67 $ 361,079,526.67

3 4 5 6
$ 361,079,526.67 $ 361,079,526.67 $ 361,079,526.67 $ 361,079,526.67
$ 303,169,333.30 $ 286,008,805.00 $ 269,819,627.36 $ 254,546,818.26

$ 692,598,580.00 $ 1,053,678,106.67 $ 1,414,757,633.33 $ 1,775,837,160.00

Proyecto sin financiamiento

$6,000,000,000.00

$5,000,000,000.00

$4,000,000,000.00

$3,000,000,000.00

$2,000,000,000.00

$1,000,000,000.00

$0.00
0% 1% 2% 3% 4% 5% 6% 7% 8% 9% 10% 15% 20% 25% 30% 35% 40% 45% 50% 55% 60% 65% 70% 75
 PREGUNTA B

EL PROYECTO CON FINANCIAMIENTO ES MAS

$ 378,397,045.99

2 3 4 5
$ 361,079,526.67 $ 361,079,526.67 $ 361,079,526.67 $ 361,079,526.67

$ 18,018,906.95 $ 18,018,906.95 $ 18,018,906.95 $ 18,018,906.95

$ 361,079,526.67 $ 361,079,526.67 $ 361,079,526.67 $ 361,079,526.67

$ 321,359,493.30 $ 303,169,333.30 $ 286,008,805.00 $ 269,819,627.36

$ 644,031,053.33 $ 1,005,110,580.00 $ 1,366,190,106.67 $ 1,727,269,633.33

Proyecto con financimiento

$6,000,000,000.00

$5,000,000,000.00

$4,000,000,000.00

$3,000,000,000.00
VPN

$2,000,000,000.00

$1,000,000,000.00
 $3,000,000,000.00

VPN
$2,000,000,000.00

$1,000,000,000.00

$0.00
0% 1% 2% 3% 4% 5% 10% 15% 20% 25% 30% 35%

TASA
 FLUJO NETO
8 9 10 11
$ 361,079,526.67 $ 361,079,526.67 $ 361,079,526.67 $ 361,079,526.67

FLUJO NETO
7 8 9 10
$ 361,079,526.67 $ 361,079,526.67 $ 361,079,526.67 $ 381,715,526.67
$ 240,138,507.79 $ 226,545,762.07 $ 213,722,417.05 $ 213,147,956.36

$ 2,136,916,686.67 $ 2,497,996,213.33 $ 2,859,075,740.00 $ 3,240,791,266.67

miento
Proyecto c

$12,000,000,000.00

$10,000,000,000.00

$8,000,000,000.00

$6,000,000,000.00
VPN

$4,000,000,000.00

$2,000,000,000.00

$0.00
0% 1% 2% 3% 4% 5% 6% 7% 8

25% 30% 35% 40% 45% 50% 55% 60% 65% 70% 75% 80% 85%
YECTO CON FINANCIAMIENTO ES MAS CONVENIENTE

FLUJO NETO
6 7 8 9
$ 361,079,526.67 $ 361,079,526.67 $ 361,079,526.67 $ 361,079,526.67

$ 18,018,906.95 $ 18,018,906.95 $ 18,018,906.95 $ 18,018,906.95

$ 361,079,526.67 $ 361,079,526.67 $ 361,079,526.67 $ 361,079,526.67

$ 254,546,818.26 $ 240,138,507.79 $ 226,545,762.07 $ 213,722,417.05

$ 2,088,349,160.00 $ 2,449,428,686.67 $ 2,810,508,213.33 $ 3,171,587,740.00

ecto con financimiento

0% 15% 20% 25% 30% 35% 40% 45% 50% 55% 60% 70% 80%

TASA
 FLUJO NETO
12 13 14 15
$ 361,079,526.67 $ 381,715,526.67 $ 381,715,526.67 $ 381,715,526.67

FLUJO NETO
11 12 13 14
$ 381,715,526.67 $ 381,715,526.67 $ 381,715,526.67 $ 381,715,526.67
$ 201,082,977.70 $ 189,700,922.35 $ 178,963,134.30 $ 168,833,145.56

$ 3,622,506,793.33 $ 4,004,222,320.00 $ 4,385,937,846.67 $ 4,767,653,373.33

Proyecto con financimiento

000,000.00

000,000.00

000,000.00

000,000.00

000,000.00

000,000.00

$0.00
0% 1% 2% 3% 4% 5% 6% 7% 8% 9% 10 15 20 25 30 35 40 45 50 55 60 65 70 75 80 85
% % % % % % % % % % % % % % % %

TASA
 FLUJO NETO
10 11 12 13
$ 381,715,526.67 $ 381,715,526.67 $ 381,715,526.67 $ 381,715,526.67

$ 18,018,906.95 $ 18,018,906.95 $ 18,018,906.95 $ 18,018,906.95

$ 381,715,526.67 $ 381,715,526.67 $ 381,715,526.67 $ 381,715,526.67

$ 213,147,956.36 $ 201,082,977.70 $ 189,700,922.35 $ 178,963,134.30

$ 3,553,303,266.67 $ 3,935,018,793.33 $ 4,316,734,320.00 $ 4,698,449,846.67

 16 17 18 19
$ 381,715,526.67 $ 381,715,526.67 $ 381,715,526.67 $ 381,715,526.67

15 16 17 18
$ 381,715,526.67 $ 381,715,526.67 $ 381,715,526.67 $ 381,715,526.67
$ 159,276,552.42 $ 150,260,898.51 $ 141,755,564.63 $ 133,731,664.75

$ 5,149,368,900.00 $ 5,531,084,426.67 $ 5,912,799,953.33 $ 6,294,515,480.00

 14 15 16 17
$ 381,715,526.67 $ 381,715,526.67 $ 381,715,526.67 $ 381,715,526.67

$ 18,018,906.95 $ 18,018,906.95 $ 18,018,906.95 $ 18,018,906.95

$ 381,715,526.67 $ 381,715,526.67 $ 381,715,526.67 $ 381,715,526.67

$ 168,833,145.56 $ 159,276,552.42 $ 150,260,898.51 $ 141,755,564.63

$ 5,080,165,373.33 $ 5,461,880,900.00 $ 5,843,596,426.67 $ 6,225,311,953.33

 20 21 22 23
$ 381,715,526.67 $ 381,715,526.67 $ 381,715,526.67 $ 381,715,526.67

19 20 21
$ 381,715,526.67 $ 381,715,526.67 $ 421,983,866.67
$ 126,161,947.87 $ 119,020,705.54 $ 124,128,834.24

$ 6,676,231,006.67 $ 7,057,946,533.33 $ 7,479,930,400.00

 18 19 20 21
$ 381,715,526.67 $ 381,715,526.67 $ 381,715,526.67 $ 421,983,866.67

$ 18,018,906.95 $ 18,018,906.95 $ 18,018,906.95 $ 18,018,906.95

$ 381,715,526.67 $ 381,715,526.67 $ 381,715,526.67 $ 421,983,866.67

$ 133,731,664.75 $ 126,161,947.87 $ 119,020,705.54 $ 124,128,834.24

$ 6,607,027,480.00 $ 6,988,743,006.67 $ 7,370,458,533.33 $ 7,792,442,400.00

 24
$ 421,983,866.67