Deposito $ 4,000.

00 TNB CCT 2%
n 4 cuotas anuales al final de cada año TNA 12%
TNB 2% CCT m 4
TET 3% TET 3%
N 8 años
32 trimestres
Monto $ 210,011.03
Deposito S/ 40,000.00
TNA 6% CCT
TET 1.5%
TEM 0.5%
Retiro S/ 22,500.00 mes 4
Deposito S/ 16,000.00 mes 6
TET 2.50% a partir del mes 6
TEM 0.8%
Retiro S/ 30,500.00 mes 9

Mes Monto inicial Flujo Monto final

0 S/ 40,000.00 S/ 40,000.00
1 S/ 40,199.01 S/ 40,199.01
2 S/ 40,399.01 S/ 40,399.01
3 S/ 40,600.00 S/ 40,600.00
4 S/ 40,801.99 -S/ 22,500.00 S/ 18,301.99
5 S/ 18,393.05 S/ 18,393.05
6 S/ 18,484.56 S/ 16,000.00 S/ 34,484.56
7 S/ 34,769.57 S/ 34,769.57
8 S/ 35,056.93 S/ 35,056.93
9 S/ 35,346.67 -S/ 30,500.00 S/ 4,846.67
10 S/ 4,886.73 S/ 4,886.73
11 S/ 4,927.12 S/ 4,927.12
12 S/ 4,967.84 S/ 4,967.84

Monto S/ 4,967.84
Capital S/ 20,000.00
n 360 dias n Monto
TEA 4.50% primeros 4 meses 12 S/ 20,295.61
TEM 0.50% siguientes 120 dias 30 S/ 20,704.58
TED 0.02% siguientes 120 dias - S/ 21,207.45

Monto S/ 21,207.45
n 5 años
Capital $50,000.00
Cuotas crecientes
CC 5%
Deposito A $ 6,520.93 *primer depósito
TNS 8% CCM
TEM 1.33%
TEA 17.23%

Año Cuota VF
0
1 $ 6,520.93 $12,314.63
2 $ 6,846.98 $11,030.19
3 $ 7,189.33 $ 9,879.71
4 $ 7,548.80 $ 8,849.23
5 $ 7,926.23 $ 7,926.23

$50,000.00
 n 8 años
Capacidad 40,000.00 visitas

Inversion S/ 7,000,000.00
Gastos de instalacion y puesta en marcha S/ 3,000,000.00
Valor de salvamento S/ 1,000,000.00
Depreciacion S/ 1,125,000.00
Valor de transpaso S/ 2,000,000.00

Año 0 1
40%
Ventas 16000
Precio de venta S/ 250.00
Ingresos S/ 4,000,000.00
Costo de ventas -S/ 1,800,000.00
Gastos de administracion y ventas -S/ 750,000.00
Depreciacion -S/ 1,125,000.00
Valor de salvamento
Utilidad antes de impuestos S/ 325,000.00
Impuestos -S/ 97,500.00
Utilidad neta S/ 227,500.00
Depreciacion S/ 1,125,000.00
Valor de salvamento
Inversion -S/ 10,000,000.00
Flujo de caja economico -S/ 10,000,000.00 S/ 1,352,500.00

b) Programa de pago de deuda de ambos préstamos

Prestamo S/ 6,500,000.00 pero solo tenemos S/ 5,000,000 para presta
Banco 1
 TNT 5% CCB
TEB 3.33%
TEA 21.74%
Cuota constante
Cuota doble año 3 y 6
Año 0 1
Monto S/ 3,000,000.00 S/ 2,911,166.69
Interes S/ 652,278.52
Amortizacion S/ 88,833.31
Cuota S/ 741,111.83

Banco 2
TEB 3%
TEA 19.41%
Cuota constante
Cuota doble año 3 y 6
Año 0 1
Monto S/ 2,000,000.00 S/ 1,762,067.93
Interes S/ 388,104.59
Amortizacion S/ 237,932.07
Cuota S/ 626,036.67

c) Flujo de caja financiero

Año 0 1
Flujo de caja economico -S/ 10,000,000.00 S/ 1,352,500.00
Prestamo total S/ 5,000,000.00
Intereses -S/ 1,040,383.12
Amortizacion -S/ 326,765.38
Credito fiscal S/ 410,144.55
Flujo de caja financiero -S/ 5,000,000.00 S/ 395,496.05

d) Indicadores económicos y financieros

COK 20%

Año 0 1
Flujo de caja economico -S/ 10,000,000.00 S/ 1,352,500.00
Valor actual -S/ 10,000,000.00 S/ 1,127,083.33
Valor actual acumulado -S/ 10,000,000.00 -S/ 8,872,916.67

VANE S/ 125,245.87
TIRE 20.32%
B/C 1.01
PRD 7.92000975803936 7
11.0401170964723 11
1.20351289416977 2

COK 20%
Año 0 1
Flujo de caja financiero -S/ 5,000,000.00 S/ 395,496.05
Valor actual -S/ 5,000,000.00 S/ 329,580.04
Valor actual acumulado -S/ 5,000,000.00 -S/ 4,670,419.96

VANF S/ 1,545,195.16
TIRF 26.18%
B/C 1.31
PRD 7.013 7
0.158 0
25.271 26

Conclusión: Es mejor hacer la inversion con financiamiento

 2 3 4 5 6
50% 60% 70% 80% 90%
20000 24000 28000 32000 36000
S/ 255.00 S/ 260.00 S/ 265.00 S/ 270.00 S/ 280.00
S/ 5,100,000.00 S/ 6,240,000.00 S/ 7,420,000.00 S/ 8,640,000.00 S/ 10,080,000.00
-S/ 2,295,000.00 -S/ 2,808,000.00 -S/ 3,339,000.00 -S/ 3,888,000.00 -S/ 4,536,000.00
-S/ 750,000.00 -S/ 750,000.00 -S/ 750,000.00 -S/ 750,000.00 -S/ 750,000.00
-S/ 1,125,000.00 -S/ 1,125,000.00 -S/ 1,125,000.00 -S/ 1,125,000.00 -S/ 1,125,000.00

S/ 930,000.00 S/ 1,557,000.00 S/ 2,206,000.00 S/ 2,877,000.00 S/ 3,669,000.00

-S/ 279,000.00 -S/ 467,100.00 -S/ 661,800.00 -S/ 863,100.00 -S/ 1,100,700.00
S/ 651,000.00 S/ 1,089,900.00 S/ 1,544,200.00 S/ 2,013,900.00 S/ 2,568,300.00
S/ 1,125,000.00 S/ 1,125,000.00 S/ 1,125,000.00 S/ 1,125,000.00 S/ 1,125,000.00

S/ 1,776,000.00 S/ 2,214,900.00 S/ 2,669,200.00 S/ 3,138,900.00 S/ 3,693,300.00

lo tenemos S/ 5,000,000 para prestarnos

 2 3 4 5 6
S/ 2,803,018.70 S/ 1,930,244.67 S/ 1,608,818.56 S/ 1,217,505.99 S/ -
S/ 632,963.84 S/ 609,449.63 S/ 419,685.71 S/ 349,799.26 S/ 264,717.67
S/ 108,147.99 S/ 872,774.03 S/ 321,426.12 S/ 391,312.57 S/ 1,217,505.99
S/ 741,111.83 S/ 1,482,223.66 S/ 741,111.83 S/ 741,111.83 S/ 1,482,223.66

2 3 4 5
S/ 1,477,964.59 S/ 1,138,730.34 S/ 733,666.92 S/ -
S/ 341,933.33 S/ 286,802.42 S/ 220,973.24 S/ 142,369.75
S/ 284,103.34 S/ 339,234.24 S/ 405,063.43 S/ 733,666.92
S/ 626,036.67 S/ 626,036.67 S/ 626,036.67 S/ 876,036.67

2 3 4 5 6
S/ 1,776,000.00 S/ 2,214,900.00 S/ 2,669,200.00 S/ 3,138,900.00 S/ 3,693,300.00

-S/ 974,897.16 -S/ 896,252.05 -S/ 640,658.95 -S/ 492,169.01 -S/ 264,717.67
-S/ 392,251.33 -S/ 1,212,008.27 -S/ 726,489.54 -S/ 1,124,979.48 -S/ 1,217,505.99
S/ 410,144.55 S/ 632,478.10 S/ 410,144.55 S/ 485,144.55 S/ 444,667.10
S/ 818,996.05 S/ 739,117.77 S/ 1,712,196.05 S/ 2,006,896.05 S/ 2,655,743.44

2 3 4 5 6
S/ 1,776,000.00 S/ 2,214,900.00 S/ 2,669,200.00 S/ 3,138,900.00 S/ 3,693,300.00
S/ 1,233,333.33 S/ 1,281,770.83 S/ 1,287,229.94 S/ 1,261,453.51 S/ 1,236,878.70
-S/ 7,639,583.33 -S/ 6,357,812.50 -S/ 5,070,582.56 -S/ 3,809,129.05 -S/ 2,572,250.35

Años
meses
dias
 2 3 4 5 6
S/ 818,996.05 S/ 739,117.77 S/ 1,712,196.05 S/ 2,006,896.05 S/ 2,655,743.44
S/ 568,747.26 S/ 427,730.19 S/ 825,711.83 S/ 806,526.51 S/ 889,403.10
-S/ 4,101,672.70 -S/ 3,673,942.51 -S/ 2,848,230.67 -S/ 2,041,704.16 -S/ 1,152,301.06

años
meses
dias
 7 8
95% 100%
38000 40000
S/ 290.00 S/ 300.00
S/ 11,020,000.00 S/ 12,000,000.00
-S/ 4,959,000.00 -S/ 5,400,000.00
-S/ 750,000.00 -S/ 750,000.00
-S/ 1,125,000.00 -S/ 1,125,000.00
-S/ 1,000,000.00
S/ 4,186,000.00 S/ 3,725,000.00
-S/ 1,255,800.00 -S/ 1,117,500.00
S/ 2,930,200.00 S/ 2,607,500.00
S/ 1,125,000.00 S/ 1,125,000.00
S/ 1,000,000.00
S/ 2,000,000.00
S/ 4,055,200.00 S/ 6,732,500.00
 7 8
S/ 4,055,200.00 S/ 6,732,500.00

S/ 4,055,200.00 S/ 6,732,500.00

7 8
S/ 4,055,200.00 S/ 6,732,500.00
S/ 1,131,731.90 S/ 1,565,764.33
-S/ 1,440,518.46 S/ 125,245.87
 7 8
S/ 4,055,200.00 S/ 6,732,500.00
S/ 1,131,731.90 S/ 1,565,764.33
-S/ 20,569.16 S/ 1,545,195.16