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# UPC

FINANZAS PARA
LAS OPERACIONES
EJERCICIOS:
. Tasa Nominal
01 al 23
. Tasa
Nominal Flujo de Efectivo 24 al 44

1.Datos:
K = 80,000

VF = VP (1 + t)n

n = (3*12)= 36

VF = 80,000 (1+0.01666666667)36

t = (20%/12) 0.01666666667

VF = 145,050.43

2.Datos:
K = 3,000

VF = VP (1 + t)n

n = (5*360)= 1800

VF = 3,000 (1+4.444444444.x10-4)1800

t = (8%/180) = 4.444444444
x10-4

VF = 6,675.436287 -3000
VF = 3,675.436287

## 3.a) Capitalizacin semestral

Datos:
K = 70,000

VF = VP (1 + t)n

n=1

VF = 70,000 (1+0.06)1

t = (12%/2) = 0.06

VF = 74,200

b) Capitalizacin bimestral
Datos:
K = 70,000

VF = VP (1 + t)n

n=1

VF = 70,000 (1+0.02)6

t = (12%/12) = 0.02

VF = 78,831.36935

c) Capitalizacin bimestral
Datos:
K = 70,000

VF = VP (1 + t)n

n=6

VF = 70,000 (1+0.02)6

t = (12%/6) = 0.02

VF = 78,831.36935

4.K = 50,000

VF = VP (1 + t)n

n = (2.5*360)= 900

## t = (2%/30) = 6.66666666 x10-4

VF = 91,087.72875

5.K = 130,000

VF = VP (1 + t)n

n = (2*12)= 24

## VF = 130,000 (1+2 x10-3)24

t = (2.4%/12) = 2 x10-3

VF = 136,385.6472

6.-

VF = VP (1 + t)n

K = 15,025
n = 120

## t = (5.4%/360) = 1.5 x10-4

VF = 15,297.88

7.-

VF = VP (1 + t)n

K = 150,000
n = (6x3 aos)= 18

VF = 150,000 (1+9.333333333x10-3)18

t = (5.6%/6) = 9.333333333x10-3

VF = 177,302.29

8.-

VF = VP (1 + t)n

K = 50,000
n = (4x3.5 aos)= 14

VF = 50,000 (1+0.08)14

t = (32%/4) = 0.08

VF = 146,859.68

9.K = 23,000

VF = VP (1 + t)n

n = (2x2.5 aos)= 5

VF = 23,000 (1+0.15)5

t = (30%/2) = 0.15

VF = 46,261.21531
VF = VP (1 + t)n

10.VF = 60,000
n = (12x2 aos)= 24

60,000 = K (1+0.02)24

t = (24%/24) = 0.02

K = 60,000/1.608437249

K=?

K = 37,303.28928

VF = VP (1 + t)n
11.K = 3,000
n = (4 x 3 aos)= 12

## 9,000 =3,000 (1+t)12

t=?

3 = (1+t)12

VF = 9,000

=1+t
1.095872691 = 1 +t
t = 0. 095872691 x (4)
t = 0. 3834907645 x 100

12.K = 30,350

a)
t = (2.4%/2) = 0.012
n = (2 x 4 aos) =8
VF = VP (1 + t)n
VF = 30,350 (1 + 0.012)8
VFA = 33,388.95259

b)
t = (2.4%/1) = 0.024
n = (1 x 4 aos) =4
VF = VP (1 + t)n
VF = 30,350 (1 + 0.024)4
VFB = 33,370.1779
VF = VFB - VFA
VF = 33,370.1779 - 33,388.95259
VF = 18.77469
Por lo tanto gan menos de \$ 18.77

c)
n = (360 x 4 aos) =1440
t = (2.4%/360) = 6.666666667x10-5
VF = VP (1 + t)n
VF = 30,350 (1 + 6.666666667x10-5)1440
VFC = 33,407.93069
VF = VFC VFA
VF = 33,407.93069 - 33,388.95259
VF = 18.97819
Por lo tanto gan menos de \$ 18.98
Respuestas: a) USS 33,388.95, b) USS 18.77 menos, c) US\$ 18.98
ms.

13.K2 = 15,000
K1 = 20,000

a)
t = 0.2448

t = 0.2448

n = (2 x 3 aos) =6

n = (12 x 3 aos) = 36

VF = VP (1 + t)n

VF = VP (1 + t)n

VF = 20,000 (1 + 0.2448)6

VF = 15,000 (1 + 0.2448)36

VFA1 = 23,123.35787

VFA2 = 35,827.51614

## Por lo tanto, la suma de ambos crditos =

= VFA1 + VFA2
= 23,123.35787 +35,827.51614 =58,950.87401

b)
t = 0.2448

t = 0.2448

n = (4 x 3 aos) =12

n = (4 x 3 aos) = 36

VF = VP (1 + t)n

VF = VP (1 + t)n

VF = 20,000 (1 + 0.2448)12

VF = 15,000 (1 + 0.2448)12

VFB1 = 26,734.4842

VFB2 = 20,050.86315

## Por lo tanto, la suma de ambos crditos =

= VFA1 + VFA2
= 26,734.4842 + 20,050.86315 = 46,785.34735
K2 = 18,000.00
14.Datos:
K1 = 17,890.00

## n = (42 meses x 30 das) = 1260

t = (12%/12) = 0.01

t = (9.5%/360) = 2.638888889x10-4

VF = VP (1 + t)n

VF = VP (1 + t)n

VF = 17,890.00 (1 + 0.01)46

## VF = 18,000.00 (1 + 2.638888889x104 1260

)

VF1 = 28,274.40891

VF2 = 25,098.99722

## Por lo tanto, la suma de ambos :

= VF1 + VF2
= 28,274.40891+ 25,098.99722 = 53373.40611
15.a)
A 150 das = 31 / 03/ 2007

das

## Hasta el 01/01/2007 = 61 das

K1 = 80,000

K2 = 80,661.47524

t = (4.86%/360) = 1.35x10-4

t = (3.60%/360) = 1x10-4

n1 = 61

N2 = 89

VF = VP (1 + t)n

VF = VP (1 + t)n

VF = 80,000 (1 + 1.35x10-4)61

VF = 80,661.47524 (1 + 1x10-4)89

VF1 = 80,661.47524

VF2 = 81,382.53025

b)
K = 81,382.53025

t = (3.60%/360) = 1x10-4
n = = 150
VF = VP (1 + t)n
VF = 81,382.53025 (1 + 1x10-4)150
VFB = 82,612.40773

16.-

K2 = 18,000.00
K = 18,000.00

Periodo 1

Periodo 2

## n = (8 meses x 30) = 240

n = (12 meses x 2) = 24

t = (1.5%/30) = 5x10-4

t = (3.2%/4) = 8x10-3

VF = VP (1 + t)n

VF = VP (1 + t)n

VF = 18,000.00 (1 + 5x10-4)240

VF = 20,294.33469 (1 + 8x10-3)24

VF1 = 20,294.33469

VF2 = 24,571.26914

Periodo 3
n = (4 meses) = 4
t = (2.0%/1) = 0.02

VF = VP (1 + t)n
VF = 24,571.26914 (1 + 0.02)4
VF3 = 26,596.73193

17.K=?

a)
n = 18
t = (24%/360) = 6.666666667x10-4

K (1 + 6.666666667x10-4)18 = K + 500
K (1.012068292) = K + 500
0.01206824238) = K + 500
K = 41,431.05

b)
KI = 41,431.05
KF = (41,431.05 x 2) = 82,862.10

## 82,862.10 = 41,431.05(1 + 6.666666667x10-4)x

Log (2.000000186) = Log (6.666666667x10-4)x
0.3010300361 = x Log (6.666666667x10-4)
X = 1,041 das
Respuestas: S/. 41,431.05 y 1,041 das
18.Respuesta: la primera

19.a)
(1 + 0.01)1-1 = 1% 0.01

b)
(1 + 0.01)3-1 = 1.03301% 3.0301

c)
(1 + 0.01)12-1 = 12.68250301% 0.1268

## Respuestas: a) 1.000%, b) 3.0301%, c) 12.682503%

20..
a)
(1 + 0.015625)12-1 = 20.44827702%

b)
(1 + 0.04245)4-1 = 18.09222422%

c)
(1 + 0.08615)2-1 = 17.972182%

d)
(1 + 0.2)1 -1 = 20%

d) 20.0%

21.a)

b)

K1 = 46,948.50

[VF/Vi-1] X 100

n = 90
K2 = 50,000.00

46,948.50 = (1+

)90 =

## Por lo tanto: 6.499675176%

50,000.00

(1+

c)

)90 = 1.064996752

## Rentabilidad= 3051.5 x (3%) = 91.545

1+

-1
50,000 - 91.545 = 49,908.455

= 6.999309393 X 10-4
49,908.455 / 46,948.50 -1 = 0.06304684921
TNT = 0.06299378453
Por lo tanto: 6.304684921%
Por lo tanto; TNT = 6.299378453%

6.30467427%

22.K = 29,862

03/09/2004

Fecha

TNA

TD

Nro. das

15/08/2004

2.4%

0.01%

39

29,939.74

12/10/2004

2.8%

0.01%

22

29,991.01

03/11/2004

3.2%

0.01%

104

30,269.53

15/02/2005

2.9%

0.01%

259

30,907.68

01/11/2005

2.4%

0.01%

300

31,532.04

TOTAL 31,532.04

02/01/2005

comisiones 15.00

Fecha

Tasa de inters

Tasa diaria

Nro. das

anual
02/01/2005

4.80%

0.0133%

222

128,755.05

12/08/2005

3.60%

0.0100%

134

130,491.89

24/12/20 5

4.44%

0.0123%

130,636.81
TOTAL 130,621.81

## 24.Clculo para el mes 0 al 5

VF=

* 4,000.00

VF = 4,309.136016 2,343.00

## Nuevo Capital = 1,966.136016

Clculo para el mes 5 al 7
VF=

* 1,966.136016

VF = 2,025.562477 + 2,990.00
Nuevo Capital = 5,015.562477
Clculo para el mes 7 al 9
VF=

* 5,015.562477

VF = 5,167.157853
Nuevo Capital = 5,167.157853
Clculo para el mes 9 al 15
VF=

* 5,167.157853

VF = 5,753.680261 + 2,950.00
Nuevo Capital = 8,703.680261
Clculo para el mes 15 al 18
VF=

* 8,703.680261

VF = 9,184.381726 + 2,250.00
Nuevo Capital = 11,434.38173
Clculo para el mes 18 al 21
VF=

* 11,434.38173

VF = 12,065.89896
Nuevo Capital = 12,065.89896
Clculo para el mes 21 al 24
VF=

* 12,065.89896

VF = 12,617.05

25.-

## Clculo para el mes 0 al 3

VF=

* 23,250.00

VF = 24,102.07 1,540.00
Nuevo Capital = 22,562.0749
Clculo para el mes 3 al 8
VF=

* 22,562.0749

VF = 23,956.95
Nuevo Capital = 23,956.95

## Clculo para el mes 8 al 10

VF=

* 23,956.95

VF = 24,392.01367+ 12,200.00
Nuevo Capital = 36,592.0137
Clculo para el mes 10 al 16
VF=

* 36,592.0137

VF = 24,392.01367+ 12,200.00
Nuevo Capital = 38,621.99

## 26.Clculo para el mes 0 al 4

VF=

* 9,000.00

VF = 9,181.79676
Nuevo Capital = 9,181.79676
Clculo para el mes 4 al 8
VF=

* 9,181.79676

VF = 9,398.53641 + 6,000
Nuevo Capital = 15,398.5364
Clculo para el mes 8 al 12
VF=
VF = 9,398.53641

* 15,398.5364

## Clculo para Hugo y Paco:

Clculo para el mes 0 al 3
VF=

* 9,000.00

VF = 9136.00616 4,000.00
Nuevo Capital = 5,136.0062
Clculo para el mes 3 al 4
* 5,136.0062

VF=
VF = 5,161.74839
Nuevo Capital = 5,161.74839
Clculo para el mes 8 al 12

* 5,161.74839

VF=
VF = 9,398.53641
Nuevo Capital = 5,408.31

27.-

10,550.0
Capital 0

Fecha
deposito
1
02/01/20
05
TNA

TND

nro das

12/02/20
05

24.00
%

0.0666667
%

10,842.2
41 5

15/04/20
05

27.00
%

0.0750000
%

12,708.1
62 2

13/10/20
05

27.20
%

0.0755556
%

14,569.7
181 1

06/11/20
05

25.00
%

0.0694444
%

16,614.4
24 9

30/12/20
05

23.20
%

0.0644444
%

16,202.6
54 6

28/08/20
06

26.40
%

0.0733333
%

19,333.5
241 9

## Respuesta: Hoy 28 de Agosto del 2006 ellos retiran S/. 19,414.15.

28.-

3
0
01/03/20 120,000.
04 00

(
1 + 0.02 )
30

122,423.
= 35

121,423.
- 1,000 = 35

126,883.
= 21

124,883.
- 2,000 = 21

130,498.
= 64

127,498.
- 3,000 = 64

138,110.
= 27

134,110.
- 4,000 = 27

145,272.
= 18

140,272.
- 5,000 = 18

146,604.
= 01

140,604.
- 6,000 = 01

146,950.
= 81

139,950.
- 7,000 = 81

6
0
01/04/20 121,423.
04 35

(
1 +

0.04
4 )
60
6
0

01/06/20 124,883.
04 21

(
1 +

0.04
4 )
60
6
0

01/08/20 127,498.
04 64

(
1 + 0.12 )
90
6
0

01/10/20 134,110.
04 27

(
1 + 0.12 )
90
6
0

01/12/20 140,272.
04 18

(
1 +

0.26
5 )
360
6
0

01/02/20 140,604.
05 01

(
1 +

0.26
5 )
360
6
0

01/04/20 139,950.
05 81

(
1 + 0.13 )
120

149,344.
= 51

141,344.
- 8,000 = 51

150,831.
= 77

141,831.
- 9,000 = 77

148,110.
= 60

10,00
138,110.
- 0
= 60

144,224.
= 70

20,00
124,224.
- 0
= 70

129,724.
= 08

40,00
89,724.0
- 0
=8

93,696.1
=3

6
0
01/06/20 141,344.
05 51

(
1 + 0.13 )
120
6
0

01/08/20 141,831.
05 77

(
1 + 0.13 )
180
6
0

01/10/20 138,110.
05 60

(
1 + 0.13 )
180
6
0

01/12/20 124,224.
05 70

(
1 + 0.13 )
180
6
0

01/02/20 89,724.0
06 8

(
1 + 0.13 )
180

93,696.1
=3

Respuesta:
a) Con los US\$ 63,000.00 que tiene no le alcanza pues el monto es de
US\$ 93,696.13
b) Le faltara US\$ 30,696.13

29.-

30
MES 0

100,000.
00

( 1 +

0.0
2 )

102,019.4
=5
- 500.00

101,519.
= 45

30
6
MES 1

101,519.
45

( 1 +

0.0
4 )
4

108085.4
107,085.
37 - 1,000.00 = 44

1
MES 4

107,085.
44

( 1 +

0.0
7 )
1

114045.9
112,045.
=
90 - 2,000.00 = 99

1
MES 7

112,045.
99

MES 8

110,847.
14

( 1 +

0.1
5 )
6

( 1 +

0.1
4 )
3

114847.1
110,847.
40 - 4,000.00 = 14

116020.0
108,020.
06 - 8,000.00 = 01

114984.2
16,000.0
98,984.2
04 - 0
=0

103319.9
32,000.0
71,319.9
87 - 0
=9

74706.95
64,000.0
10,706.9
2 - 0
=5

90
MES 10

108,020.
01

( 1 +

0.2
5 )
36
0
2

MES 13

98,984.2
0

( 1 +

0.1
3 )
6
4

MES 15

71,319.9
9

( 1 +

0.1
4 )
12
15
0

MES 17

10,706.9
5

( 1 +

## Respuesta: US\$ 12,253.76

0.0
8 )
90

= 12,253.76

30.1
0
DIA 0

14,800.
00

(
1 +

14,898.9
700.0
14,198.9
=6
- 0
=6

0.02 )
30
6
0

DIA 10

14,198.
96

(
1 +

14,778.2
=4
-

0.02 )
30

14,778.2
=4

3
0
DIA 70

14,778.
24

(
1 +

15,228.0
700.0
15,928.0
=7
+0
=7

0.03 )
30
2
0

DIA 100

15,928.
07

(
1 +

16,249.6
388.0
15,861.6
=8
- 0
=8

0.03 )
30
3
0

DIA 120

15,861.
68

(
1 +

0.03 )
30

RESPUESTA : 16,344.49

31.-

16,344.4
=9
-

16,344.4
=9

## 80000= 16596.93671 + 0.9417758x + 33301.95654 + 8453.883142

X= 22985.54
Respuesta: Se deber amortizar \$22,985.54

32.-

Periodo 1
((1+0.0101316
)^1)X

Periodo2
((1+0.0101316)^2
)*1.5X

1.0101316 +

1.53054877 +

Periodo3
((1+0.0101316)^3)*1.12
5X

1.28837973

3.829060
1

X = 4000 / 3.8290601
X= 1044.64278
RESPUESTA :US\$ 1,044.64

33.TNA=12%
TNS=6%
TND=0.033%
Semanal
Trimestral
Diaria

TNT=3%

TNQ=0.5%

Mensual

Diaria
2500

2860

8200

8750

42536.01

## 42536.01= {[({[{[{(P*(1+0.06)^2) +2860}* (1+0.03)^4]

+8200}*(1+0.01)^12] +8750}* (1+0.01)^24)-2500]*(1+3.33333*10^4)^360}
42536.01= {[[[[(1.1236P+2860)*(1.12550881)]
+8200]*(1.12682503)+8750]*(1.269734649)-2500]*(1+3.33333*10^4)^360}
42536.01=
{[[ (1.264621699P+3218.955197+8200)*(1.12682503)+8750]*(1.2697346
49)-2500]*(1+3.33333*10^-4)^360}
42536.01=
{[[ (1.264621699P+11418.9552)*(1.12682503)+8750]*(1.269734649)2500]*(1+3.33333*10^-4)^360}
42536.01= {[((1.425007384P+12867.16454)+8750)*(1.269734649)2500]*(1+3.33333*10^-4)^360}
42536.01= {[(1.425007384P+21617.16454)*(1.269734649)2500]*(1+3.33333*10^-4)^360}
42536.01= [(1.80938125P+27448.06283-2500)*(1+3.33333*10^-4)^360]
42536.01= (2.040030871P+28128.29985)
42536.01 - 28128.29985 = 2.040030871P
Respuesta
a) US\$ 7,062.50
b) Si X = 7062.50
TN = 10%/360
N=7
7062.50*(1+ 10%/360)^360*7 = 14220.74
Respuesta: Si Ximena demora un ao ms en ponerse de acuerdo tendr que
pagar USD 14220.74 porque ya tendra que considerarse 7 aos.
34.P=x

0
i1-> TEM1:= 9%

12
i2-> TEM2:= 9.50%

A= Retiro en 8 meses
000

24

F=500

## i1 ->TEM1:= 9%=>9%/30 = TED = [(1+TED) ^30]-1

i1 = 9.402687487
i2-> TEM2:= 9.50% * 10% =>9.09%/30
=> TEM2 = [(1+9.09%/30) ^30]-1
i2= 9.500897989%

## Hallamos el inters en 8 meses:

A = (F-P)*50%
F= X(1+i) ^8 = [x*(1+i1) ^8 x]*50%
A = -[x*(1+i1) ^8 1]*0.5
Hallamos el Nuevo capital que se deposita a los 12 meses
B = x+180%*X = 2.8X
B= X*(2.8) (1+i2)
Planteamos la ecuacin
F= P (1+i1) ^12* (1+i2) ^12- A*(1+i2) ^4*(1+i2) ^12+ B*(1+i2) ^12
Reemplazamos:
500000= x*(1+i1) ^12* (1+i2) ^12-[{[x*((1+i1) ^8)-1]*(1+i1) ^4*(1+i2)
^12}/2]+X2.8*(1+i2) ^12
Presente = X
X = 500000/((1+i1) ^12* (1+i2) ^12-[{[x*((1+i1) ^8)-1]*(1+i1) ^4*(1+i2)
^12}/2]+X2.8*(1+i2) ^12)
Reemplazando i1 e i2:
X = 9354.32
Respuesta: El capital incial fue de USD 9,354.32
35.-

VF1= 18000((1+(2%/30))^107)-1250=18080.44519
VF2=18080.44519((1+(2%/30))^23) ((1+(21%/360))^100)+10842=
30304.22736
VF3=30304.22736((1+(21%/360))^317)-14365= 22092.6116
VF4= 22092.6116((1+(21%/360))^17) ((1+(20%/360))^133)
((1+(28%/60))^6)+X= 24090.66105+X
X=19083.12746
36.TNM=2%

TNM=3%

1000
2/11
31/08
9 das

10000
1000

TNM=4%

2000

12/12
2/02
12/04
40 das
50 das
30 das

22/07
70 das

01/08
100 das

D
28358.00

TNM=2% = 6.666666667*10^-4
TNM=3% = 1 * 10^-3
TNM=4% = 1.333333333*^-3
28358 = {[([[([(( 10000*(1+6.666666667*10^-4)^40)100}*(1*6.666666667*10^-4)^50)+D]*(1+1 * 10^-3) ^70)-2000]*(1+1 *
10^-3) ^100]*(1+1.333333333*^-3)^9)+1000]* (1+1.333333333*^3)^30}

## 28358 = {[[[(((9270.16* 1.033883631)+D)*1.072470669)-2000]*(1+1 *

10^-3) ^100]*(1+1.333333333*^-3)^9)+1000]* (1+1.333333333*^3)^30}
28358 = {[[[((9584.27 + D) *1.072470669)-2000]*(1+1 * 10^-3)
^100]*(1+1.333333333*^-3)^9)+1000]* (1+1.333333333*^-3)^30}
28358 = {[[(10278.84846 + 1.072470669D -2000)* (1.105115698)]
*(1.0120642)+1000] *(1.040783044)}
28358 = {[[(8278.84846 + 1.072470669D) )* (1.105115698)]
*(1.0120642)+1000] *(1.040783044)}
28358 = {[(9149.085392 +1.185204172D) *(1.0120642)+1000]
*(1.040783044)}
28358 = {[(9259.461784+1.199502712D)+1000] *(1.040783044)}
28358 = {[(10259.46178+1.199502712D)] *(1.040783044)}
28358 = 10677.87387+1.248422084D
28358 - 10677.87387 = 1.248422084D
17680.12613 = 1.248422084D
D = 14161.97

37.-

FV1= 200000((1+0.04%)^50)+100000=304039.4521
FV2= 304039.4521((1+0.04%)^60)+50000=361423.1726
FV3=361423.1726((1+0.05%)^90)=378054.456
F40=40%(378054.456)=151221.7824/237270.6277

F2=(237270.6277-X)(1.+0.05%)^90= 248188.8957
248188.8957-1.046=X
X=121304.445 = F2 = F3

38.-

39.C

0
TNA = 54%
n=6

I/4
20500
6 aos

3
TNA = 54%
n=1

## S3 = c (1+ 54%/6) ^ 6*3 = 4.717120C

I = S3 C = 3.717120C
I/4 = 0.9292800
S3 I/4 = 3.787839C

C =1481.84
40.-

## Segunda forma de pago

242367.8283
396817.98-242367.8283= 154450.1517 Deuda por pagar en el mes 30 al
da de hoy.

41.-

## Hallando tasa efectiva mensual:

TNA=24% capitalizacin mensual
TEM=24%/12 = 0.02

i.

Hallando Ao

ii.

Hallando Bo

iii.

Hallando Co

42.PISO 1:

PASO 2:

PASO 3:

B) Calculando B:

C) Calculando C:

E) Calculando E:

## F) Calculando TNA=13% capitalizacin diario a TED

44.-

0.024 24
) 17315.81 17315.81 7500 24815.81
4
0.024 24
B 24815.81(1
) 28647.06 28647.06 7500 36147.06
4
0.035 360
C 36147.06(1
) 41577.88 41577.88 2500 39077.88
90
0.035 360
D 39077.88(1
) 44949.04 44949.04 2500 42449.04
90
0.035 360
E 42449.04(1
) 48826.69 48826.69 Y 48826.69 2.5X
90
0.145 360
F (48826.69 2.5X )(1
) 56443.94 2.890014555X 56443.94 2.890014555X X
360
0.145 720
G X (56443.94 3.890014555X )(1
) 75428.83 5.19841885X
360
6.19841885X 75428.83 X 12169.04 Y 30422.61
A 15000(1