Taller 3 Evaluacion Terminado

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1- 0 1 2 3 4 5

PROYECTO X -500 170 300 320


PROYECTO Z -900 100 300 350 500 500

TASA 12%
PROY X PROY Z En este caso se debiera escoger el proyecto
VAN 118.71 279.04
TIR 24.01% 21.46%

AÑOS X 3 Minimo Comun Multiplo


AÑOS Z 5 Xse repite 5
Z se repite 3

F0 F1 F2 F3 F4 F5
PROY X -500 170 300 320
-500 170 300

PROY X (AJUS) -500 170 300 -180 170 300


F0 F1 F2 F3 F4 F5
PROY Z -900 100 300 350 500 500
-900

PROY Z (AJUS) -900 100 300 350 500 -400

PROY X PROY Y
VAN 336.64 527.22

Resta X - Z 400 70 0 -530 -330 700


se debiera escoger el proyecto z, ya que su Van es superior al del proyecto x.

15
5 Veces
3 Veces

F6 F7 F8 F9 F10 F11 F12 F13 F14

320
-500 170 300 320
-500 170 300 320
-500 170 300
-180 170 300 -180 170 300 -180 170 300
F6 F7 F8 F9 F10 F11 F12 F13 F14

100 300 350 500 500


-900 100 300 350 500
100 300 350 500 -400 100 300 350 500

-280 -130 -50 -680 570 200 -480 -180 -200


F15

320
320
F15

500
500

-180
2-
TASA 12%
Año 0 1 2 3 VAN
PROYECTO A -4000 1000 1900 3800 1112.29
PROYECTO B -4000 3600 1800 150 756.00

Calculo del Cruz. Fisher 0 -2600 100 3650


TIR DE PROYECTO 20.42% FISHER 20.42%

PROYECTOS A - B
$3,000.00

$2,500.00

$2,000.00

$1,500.00

$1,000.00

$500.00

$0.00
% % % % % % % % % % % % % % % % % %
00 .72 .45 .17 .89 .62 .34 .06 .78 .51 .23 .95 .68 .40 .12 .85 .57 .29
0.
-$500.00 2 5 8 10 13 16 19 21 24 27 29 32 35 38 40 43 46

-$1,000.00

-$1,500.00

VAN A VAN B

Si la tasa de costo de capital es mayor que la tasa de fisher se escoge el proyecto B


si la tasa de costo de capital es menor que la tasa de fisher se escogeel proyecto A
TIR
24%
28%

SALTO 1.36%

Tasa VAN A VAN B TASA VAN A VAN B


0.00% $2,700.00 $1,550.00 24.51% -$2.40 $130.25
1.36% $2,484.79 $1,447.65 25.87% -$100.66 $71.50
2.72% $2,279.84 $1,348.79 27.23% -$195.21 $14.31
4.08% $2,084.52 $1,253.25 28.59% -$286.25 -$41.36
5.45% $1,898.26 $1,160.88 29.95% -$373.93 -$95.57
6.81% $1,720.51 $1,071.52 31.31% -$458.42 -$148.38
8.17% $1,550.77 $985.03 32.68% -$539.87 -$199.85
9.53% $1,388.58 $901.29 34.04% -$618.42 -$250.02
10.89% $1,233.51 $820.16 35.40% -$694.21 -$298.93
12.25% $1,085.15 $741.54 36.76% -$767.36 -$346.64
13.62% $943.12 $665.31 38.12% -$837.99 -$393.19
14.98% $807.08 $591.37 39.48% -$906.23 -$438.61
16.34% $676.71 $519.62 40.85% -$972.16 -$482.94
17.70% $551.69 $449.97 42.21% -$1,035.90 -$526.23
19.06% $431.74 $382.32 43.57% -$1,097.55 -$568.51
20.42% $316.60 $316.60 44.93% -$1,157.18 -$609.82
21.78% $206.02 $252.74 46.29% -$1,214.89 -$650.17
23.15% $99.76 $190.64 47.65% -$1,270.76 -$689.62
24.51% -$2.40 $130.25
25.87% -$100.66 $71.50
27.23% -$195.21 $14.31
28.59% -$286.25 -$41.36
29.95% -$373.93 -$95.57
31.31% -$458.42 -$148.38
32.68% -$539.87 -$199.85
34.04% -$618.42 -$250.02
35.40% -$694.21 -$298.93
36.76% -$767.36 -$346.64
38.12% -$837.99 -$393.19
39.48% -$906.23 -$438.61
40.85% -$972.16 -$482.94
42.21% -$1,035.90 -$526.23
43.57% -$1,097.55 -$568.51
44.93% -$1,157.18 -$609.82
46.29% -$1,214.89 -$650.17
47.65% -$1,270.76 -$689.62
3-
TASA 12%
0 1 2 3 4
X -500 170 300 320
Z -900 100 300 350 500

TASA 12%
PROY X PROY Z
VAN 118.71 $ 279.04
TIR 24.01% 21.46%

AÑOS X 3 Minimo Comun Multiplo


AÑOS Z 5 X se repite
Z se repite

0 1 2 3 4
PROY X -500 170 300 320
-500 170

PROY X AJUS -500 170 300 -180 170


0 1 2 3 4
PROY Z -900 100 300 350 500

PROY Z (AJUS) -900 100 300 350 500

PROY X PROY Y
VAN 336.64 527.22
TIR 24.01% 21.46% Cruz Fisher
Resta X - Z 400 70 0 -530 -330
TIR 18.90%

TASA VAN PROY A VAN PROY B TASA


1.26% 0.00% $1,450.00 $2,550.00 17.64%
1.26% $1,247.89 $2,183.02 18.90%
2.52% $1,075.00 $1,869.02 20.16%
3.78% $926.47 $1,599.23 21.42%
5.04% $798.36 $1,366.46 22.68%
6.30% $687.38 $1,164.82 23.94%
7.56% $590.87 $989.42 25.20%
8.82% $506.59 $836.23 26.46%
10.08% $432.70 $701.90 27.72%
11.34% $367.66 $583.64 28.98%
12.60% $310.19 $479.12 30.24%
13.86% $259.21 $386.39 31.50%
15.12% $213.82 $303.81 32.76%
16.38% $173.26 $229.99 34.02%
17.64% $136.87 $163.76 35.28%
18.90% $104.12 $104.12 36.54%
20.16% $74.54 $50.25 37.80%
21.42% $47.74 $1.41 39.06%
22.68% $23.36 -$43.01 40.32%
23.94% $1.13 -$83.54 41.58%
25.20% -$19.21 -$120.64 42.84%
26.46% -$37.87 -$154.69 44.10%
27.72% -$55.05 -$186.04 45.36%
28.98% -$70.90 -$214.98 46.62%
30.24% -$85.57 -$241.76
31.50% -$99.18 -$266.61
32.76% -$111.83 -$289.73 Si la tasa de costo de capital es mayo
34.02% -$123.63 -$311.29 si la tasa de costo de capital es meno
35.28% -$134.65 -$331.43
36.54% -$144.97 -$350.29
37.80% -$154.65 -$368.00
39.06% -$163.76 -$384.64
40.32% -$172.33 -$400.31
41.58% -$180.43 -$415.11
42.84% -$188.08 -$429.09
44.10% -$195.32 -$442.32
45.36% -$202.20 -$454.87
46.62% -$208.72 -$466.79
47.88% -$214.93 -$478.12
49.14% -$220.85 -$488.91
50.40% -$226.49 -$499.19
5

500

Minimo Comun Multiplo 15


5 Veces
3 Veces

5 6 7 8 9 10 11 12

300 320
-500 170 300 320
-500 170 300 320
-500
300 -180 170 300 -180 170 300 -180
5 6 7 8 9 10 11 12
500
-900 100 300 350 500 500
-900 100 300
-400 100 300 350 500 -400 100 300

PROY X PROY Z
104.12 104.12 0.00
700 -280 -130 -50 -680 570 200 -480

VAN PROY A VAN PROY B


$136.87 $163.76
$104.12 $104.12
$74.54 $50.25
$47.74 $1.41
$23.36 -$43.01
$1.13 -$83.54
-$19.21 -$120.64
-$37.87 -$154.69
-$55.05 -$186.04
-$70.90 -$214.98
-$85.57 -$241.76
-$99.18 -$266.61
-$111.83 -$289.73
-$123.63 -$311.29
-$134.65 -$331.43
-$144.97 -$350.29
-$154.65 -$368.00
-$163.76 -$384.64
-$172.33 -$400.31
-$180.43 -$415.11
-$188.08 -$429.09
-$195.32 -$442.32
-$202.20 -$454.87
-$208.72 -$466.79

la tasa de costo de capital es mayor que la tasa de fisher se escoge el proyecto A


la tasa de costo de capital es menor que la tasa de fisher se escogeel proyecto B

Proyectos X - Z
$3,000.00

$2,500.00

$2,000.00

$1,500.00

$1,000.00

$500.00

$0.00
0% 2% 4% 6% 8% 0% 2% 4% 6% 8% 0% 2% 4% 6% 8% 0% 2% 4% 6% 8% 0%
0.0 2.5 5.0 7.5 0.0 2.6 5.1 7.6 0.1 2.6 5.2 7.7 0.2 2.7 5.2 7.8 0.3 2.8 5.3 7.8 0.4
-$500.00 1 1 1 1 2 2 2 2 3 3 3 3 4 4 4 4 5

-$1,000.00

VAN PROY A VAN PROY B


13 14 15

170 300 320


170 300 320
13 14 15

350 500 500


350 500 500

-180 -200 -180

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