DETALLE VALOR Ejercicio #1

PRECIO
INTRODUCCIN $89 105.82
INFLACIN 2.50%
PRODUCCION
PERIODO 0 1 2 3 4 5
CANTIDAD MERCADO 13,750.00 17,500.00 20,800.00 25,000.00 27,000.00
PARTICIPACIN 16% 20% 25% 30% 30%
2200.00 3500.00 5200.00 7500.00 8100.00
CRECIMIENTO MERCADO 15.00% A PARTIR DEL 6TO AO HASTA EL AO 10
PARTICIPACION 30.00% A PARTIR DEL 6TO AO HASTA EL AO 10

COSTOS
VARIABLE TOTAL UNITARIO $60
FIJOS $190,000
CONSTRUCCIN EDIFICIOS
COSTO $200,000
VIDA 40
MAQUINARIAS
CAPACIDAD DE PROD. 12,000.00
COSTO $100,000
VIDA UTIL 10
PERIOD DE VENTA 6to ao SE COMPRA POR REEMPLAZO Y POR INCREMENTO DE PRODUCCIN
VALOR DE VENTA 50.00%
TERRENOS $80,000
CAPITAL DE TRABAJO 30.00% DE COSTOS FIJOS Y VARIABLES
TASA IMPOSITIVA 22%
TASA DE DESCUENTO (TMRA) 12.00%
PRESTAMO 128,000.00
PLAZO 8 AOS
INTERES 9%

Se pide:
Calcular VAN, VAE, CAE, BENEFICIO/COSTO, cantidad de equilibrio, valor de equilibrio.
Que recomendaria a los inversionistas sobre la viabilidad o n del proyecto.
 PERIODO 0 1 2 3
CANTIDAD MERCADO 13,750.00 17,500.00 20,800.00
PARTICIPACION 16% 20% 25%
CANTIDAD EMPRESA 2,200.00 3,500.00 5,200.00

CT. VAR. UNIT. 60.00 61.50 63.04

COSTO VARIABLE $ 132,000.00 $ 215,250.00 $ 327,795.00
COSTO FIJO $ 190,000.00 $ 194,750.00 $ 199,618.75

NUMERO DE MAQUINAS 1 1 1

DEPRECIACION
CONSTRUCCION $5,000
MAQUINARIAS $10,000
 4 5 6 7 8 9
25,000.00 27,000.00 31050 35707.5 41063.625 47223.16875
30% 30% 30% 30% 30% 30%
7,500.00 8,100.00 9,315.00 10,712.25 12,000.00 12,000.00

64.61 66.23 67.88 69.58 71.32 73.10

$ 484,600.78 $ 536,453.06 $ 632,344.05 $ 745,375.55 $ 855,853.74 $ 877,250.09
$ 204,609.22 $ 209,724.45 $ 214,967.56 $ 220,341.75 $ 225,850.29 $ 231,496.55

1 1 1 1 1 1
 10
54306.6440625
30%
12,000.00

74.93
$ 899,181.34
$ 237,283.96

1
PREST $ 128,000.00 PERIODO DEUDA CUOTA INTERES AMORTIZACION
PERIO 8 0 $ 128,000.00
TASA D 9% 1 $ 116,393.68 $23,126.32 $11,520.00 $11,606.32
ANUAL $23,126.32 2 $ 103,742.79 $23,126.32 $10,475.43 $12,650.89
3 $ 89,953.32 $23,126.32 $9,336.85 $13,789.47
4 $ 74,922.80 $23,126.32 $8,095.80 $15,030.52
5 $ 58,539.53 $23,126.32 $6,743.05 $16,383.27
6 $ 40,681.77 $23,126.32 $5,268.56 $17,857.76
7 $ 21,216.81 $23,126.32 $3,661.36 $19,464.96
8 $ - $23,126.32 $1,909.51 $21,216.81
$57,010.56 $128,000.00
 FLUJO DE CAJA DE UN PROYECTO DE INVERSION EJERCICIO #1
DETALLES 0 1 2 3 4 5 6 7 8 9
INGRESOS
PRECIO $ 89.00 $ 91.23 $ 93.51 $ 95.84 $ 98.24 $ 100.70 $ 103.21 $ 105.79 $ 108.44
PRODUCCION 2,200.00 3,500.00 5,200.00 7,500.00 8,100.00 9,315.00 10,712.25 12,000.00 12,000.00
VENTAS $ 195,800.00 $ 319,287.50 $ 486,229.25 $ 718,824.49 $ 795,738.71 $ 937,977.01 $ 1,105,640.40 $ 1,269,516.38 $ 1,301,254.29
VENTA DE ACTIVOS $ 50,000.00
TOTAL DE INGRESOS $ 195,800.00 $ 319,287.50 $ 486,229.25 $ 718,824.49 $ 795,738.71 $ 987,977.01 $ 1,105,640.40 $ 1,269,516.38 $ 1,301,254.29

COSTOS
VARIABLES $ 132,000.00 $ 215,250.00 $ 327,795.00 $ 484,600.78 $ 536,453.06 $ 632,344.05 $ 745,375.55 $ 855,853.74 $ 877,250.09
FIJOS $ 190,000.00 $ 194,750.00 $ 199,618.75 $ 204,609.22 $ 209,724.45 $ 214,967.56 $ 220,341.75 $ 225,850.29 $ 231,496.55
INTERESES $11,520.00 $10,475.43 $9,336.85 $8,095.80 $6,743.05 $5,268.56 $3,661.36 $1,909.51
DEPRECIACIONES
CONSTRUCCION $ 5,000.00 $ 5,000.00 $ 5,000.00 $ 5,000.00 $ 5,000.00 $ 5,000.00 $ 5,000.00 $ 5,000.00 $ 5,000.00
MAQUINARIA $ 10,000.00 $ 10,000.00 $ 10,000.00 $ 10,000.00 $ 10,000.00 $ 10,000.00 $ 10,000.00 $ 10,000.00 $ 10,000.00
VALOR EN LIBROS $ 40,000.00
TOTAL DE EGRESOS $ 348,520.00 $ 435,475.43 $ 551,750.60 $ 712,305.80 $ 767,920.57 $ 907,580.17 $ 984,378.66 $ 1,098,613.55 $ 1,123,746.64

UTILIDAD OPERATIVA -$ 152,720.00 -$ 116,187.93 -$ 65,521.35 $ 6,518.69 $ 27,818.15 $ 80,396.84 $ 121,261.74 $ 170,902.84 $ 177,507.66
IMPUESTO $ - $ - $ - $ 1,434.11 $ 6,119.99 $ 17,687.30 $ 26,677.58 $ 37,598.62 $ 39,051.68
UTILIDAD NETA -$ 152,720.00 -$ 116,187.93 -$ 65,521.35 $ 5,084.58 $ 21,698.15 $ 62,709.53 $ 94,584.16 $ 133,304.21 $ 138,455.97
DEPRECIACIONES
CONSTRUCCION $ 5,000.00 $ 5,000.00 $ 5,000.00 $ 5,000.00 $ 5,000.00 $ 5,000.00 $ 5,000.00 $ 5,000.00 $ 5,000.00
MAQUINARIA $ 10,000.00 $ 10,000.00 $ 10,000.00 $ 10,000.00 $ 10,000.00 $ 10,000.00 $ 10,000.00 $ 10,000.00 $ 10,000.00
VALOR EN LIBROS $ 40,000.00
TERRENOS -$ 80,000.00
CONSTRUCCION -$ 200,000.00
MAQUINARIA 1 -$ 100,000.00
REEMPLA. MAQUINA 1 -$ 100,000.00
MAQUINARIA 2
CAPITAL DE TRABAJO -$ 96,600.00
VALOR DE DESECHO
PRESTAMO $ 128,000.00
AMORTIZACION -$ 11,606.32 -$ 12,650.89 -$ 13,789.47 -$ 15,030.52 -$ 16,383.27 -$ 17,857.76 -$ 19,464.96 -$ 21,216.81

FLUJO DE EFECTIVO NETO -$ 348,600.00 -$ 149,326.32 -$ 113,838.82 -$ 64,310.82 $ 5,054.06 $ 20,314.89 -$ 148.23 $ 90,119.20 $ 127,087.40 $ 153,455.97

TMRA 12.00%
V. A. N. ($ 281,265.99)
T. I. R. 4.05%

V. A . N ($ 281,265.99) -$133,327.07 -$90,751.61 -$45,775.17 $3,211.95 $11,527.21 -$75.10 $40,765.35 $51,328.47 $55,337.76
V. A. U. E. -$49,779.63
C. A. U. E. $61,696.68

VAC $ 4,080,533.93
VAB $ 4,095,893.79 $ 1.00 RATIO COSTO BENEFICIO.

cantidad de equilibrio 6551.72 6551.72 6551.72 6551.72 6551.72 6551.72 6551.72 6551.72 6551.72
valor de equilibrio 583103.45 597681.03 612623.06 627938.64 643637.10 597197.20 676221.23 693126.76 710454.93
 10

$ 111.15
12,000.00
$ 1,333,785.65

$ 1,333,785.65

$ 899,181.34
$ 237,283.96

$ 5,000.00
$ 10,000.00

$ 1,151,465.30

$ 182,320.35
$ 40,110.48
$ 142,209.87

$ 5,000.00
$ 10,000.00

$ 96,600.00
$ 290,000.00

$ 543,809.87

$175,092.22
 6551.72
728216.30
CAPITAL 128000
PLAZO 8 AOS
INTERES 9%

AOS CAPITAL CUOTA INTERES AMORTIZACIN SALDO

0 128,000.00
1 116,393.68 23126.32 11520.00 11606.32 116393.68
2 103,742.79 23126.32 10475.43 12650.89 103742.79
3 89,953.32 23126.32 9336.85 13789.47 89953.32
4 74,922.80 23126.32 8095.80 15030.52 74922.80
5 58,539.53 23126.32 6743.05 16383.27 58539.53
6 40,681.77 23126.32 5268.56 17857.76 40681.77
7 21,216.81 23126.32 3661.36 19464.96 21216.81
8 0.00 23126.32 1909.51 21216.81 0.00
 DETALLE VALOR Ejercicio #2
PRECIO
INTRODUCCIN $89 105.82
INFLACIN 2.50%
PRODUCCION
PERIODO 0 1 2 3 4 5
CANTIDAD MERCADO 13,750.00 17,500.00 20,800.00 25,000.00 27,000.00
PARTICIPACIN 16% 20% 25% 30% 30%
2200.00 3500.00 5200.00 7500.00 8100.00
CRECIMIENTO MERCADO 15.00% A PARTIR DEL 6TO AO HASTA EL AO 10
PARTICIPACION 30.00% A PARTIR DEL 6TO AO HASTA EL AO 10

COSTOS

VARIABLE TOTAL $60

FIJOS $190,000
CONSTRUCCIN EDIFICIOS
COSTO $200,000
VIDA 40
MAQUINARIAS
CAPACIDAD DE PR 12,000.00
COSTO $100,000
VIDA UTIL 10
PERIOD DE VENTA 6to ao SE COMPRA POR REEMPLAZO Y POR INCREMENTO DE PRODUCCIN
VALOR DE VENTA 50.00%
TERRENOS $80,000
CAPITAL DE TRAB 30.00% DE COSTOS FIJOS Y VARIABLES
TASA IMPOSITIVA 22%
TASA DE DESCUEN 12.00%
PRESTAMO 128,000.00
PLAZO 8 AOS
INTERES 9%
Maquina 2 $100,000.00 7mo ao
Se pide:
Calcular VAN, VAE, CAE, BENEFICIO/COSTO, cantidad de equilibrio, valor de equilibrio.
Que recomendaria a los inversionistas sobre la viabilidad o n del proyecto.
 FLUJO DE CAJA DE UN PROYECTO DE INVERSION EJERCICIO #2
DETALLES 0 1 2 3 4 5 6 7 8 9 10
INGRESOS
PRECIO $ 89.00 $ 91.23 $ 93.51 $ 95.84 $ 98.24 $ 100.70 $ 103.21 $ 105.79 $ 108.44 $ 111.15
PRODUCCION 2,200.00 3,500.00 5,200.00 7,500.00 8,100.00 9,315.00 10,712.25 12,000.00 12,000.00 12,000.00
VENTAS $ 195,800.00 $ 319,287.50 $ 486,229.25 $ 718,824.49 $ 795,738.71 $ 937,977.01 $ 1,105,640.40 $ 1,269,516.38 $ 1,301,254.29 $ 1,333,785.65
VENTA DE ACTIVOS $ 50,000.00
TOTAL DE INGRESOS $ 195,800.00 $ 319,287.50 $ 486,229.25 $ 718,824.49 $ 795,738.71 $ 987,977.01 $ 1,105,640.40 $ 1,269,516.38 $ 1,301,254.29 $ 1,333,785.65

COSTOS
VARIABLES $ 132,000.00 $ 215,250.00 $ 327,795.00 $ 484,600.78 $ 536,453.06 $ 632,344.05 $ 745,375.55 $ 855,853.74 $ 877,250.09 $ 899,181.34
FIJOS $ 190,000.00 $ 194,750.00 $ 199,618.75 $ 204,609.22 $ 209,724.45 $ 214,967.56 $ 220,341.75 $ 225,850.29 $ 231,496.55 $ 237,283.96
INTERESES $11,520.00 $10,475.43 $9,336.85 $8,095.80 $6,743.05 $5,268.56 $3,661.36 $1,909.51
DEPRECIACIONES
CONSTRUCCION $ 5,000.00 $ 5,000.00 $ 5,000.00 $
5,000.00 $ 5,000.00 $ 5,000.00 $ 5,000.00 $ 5,000.00 $ 5,000.00 $ 5,000.00
MAQUINARIA $ 10,000.00 $ 10,000.00 $ 10,000.00 $
10,000.00 $ 10,000.00 $ 10,000.00 $ 10,000.00 $ 10,000.00 $ 10,000.00 $ 10,000.00
VALOR EN LIBROS $ 40,000.00
TOTAL DE EGRESOS $ 348,520.00 $ 435,475.43 $ 551,750.60 $ 712,305.80 $ 767,920.57 $ 907,580.17 $ 984,378.66 $ 1,098,613.55 $ 1,123,746.64 $ 1,151,465.30

UTILIDAD OPERATIVA -$ 152,720.00 -$116,187.93 -$ 65,521.35 $ 6,518.69 $ 27,818.15 $ 80,396.84 $ 121,261.74 $ 170,902.84 $ 177,507.66 $ 182,320.35
IMPUESTO $ - $ - $ - $ 1,434.11 $ 6,119.99 $ 17,687.30 $ 26,677.58 $ 37,598.62 $ 39,051.68 $ 40,110.48
UTILIDAD NETA -$ 152,720.00 -$116,187.93 -$ 65,521.35 $ 5,084.58 $ 21,698.15 $ 62,709.53 $ 94,584.16 $ 133,304.21 $ 138,455.97 $ 142,209.87
DEPRECIACIONES
CONSTRUCCION $ 5,000.00 $ 5,000.00 $ 5,000.00 $ 5,000.00 $ 5,000.00 $ 5,000.00 $ 5,000.00 $ 5,000.00 $ 5,000.00 $ 5,000.00
MAQUINARIA $ 10,000.00 $ 10,000.00 $ 10,000.00 $ 10,000.00 $ 10,000.00 $ 10,000.00 $ 10,000.00 $ 10,000.00 $ 10,000.00 $ 10,000.00
VALOR EN LIBROS $ 40,000.00
TERRENOS -$ 80,000.00
CONSTRUCCION -$ 200,000.00
MAQUINARIA 1 -$ 100,000.00
REEMPLA. MAQUINA 1 -$ 100,000.00
MAQUINARIA 2 -$ 100,000.00
CAPITAL DE TRABAJO -$ 96,600.00 $ 96,600.00
VALOR DE DESECHO $ 360,000.00
PRESTAMO $ 128,000.00
AMORTIZACION -$ 11,606.32 -$ 12,650.89 -$ 13,789.47 -$ 15,030.52 -$ 16,383.27 -$ 17,857.76 -$ 19,464.96 -$ 21,216.81

FLUJO DE EFECTIVO NETO -$ 348,600.00 -$ 149,326.32 -$113,838.82 -$ 64,310.82 $ 5,054.06 $ 20,314.89 -$ 148.23 -$ 9,880.80 $ 127,087.40 $ 153,455.97 $ 613,809.87

TMRA 12.00%
V. A. N. ($ 303,962.78)
T. I. R. 3.51%

V. A . N. ($ 303,962.78) -$133,327.07 -$90,751.61 -$45,775.17 $3,211.95 $11,527.21 -$75.10 -$4,469.57 $51,328.47 $55,337.76 $197,630.35
V. A. U. E. -$53,796.60
C. A. U. E. $61,696.68

VAC $ 4,080,491.43
VAB $ 4,095,893.79 $ 1.00 ratio beneficio costo

cantidad de equilibrio 6551.72 6551.72 6551.72 6551.72 6551.72 6551.72 6551.72 6551.72 6551.72 6551.72
valor de equilibrio 583103.45 597681.03 612623.06 627938.64 643637.10 597197.20 676221.23 693126.76 710454.93 728216.30
 128000 CUOTA INTERES AMORTIZACION SALDO
9% 0 128000
8 1 116,393.68 23,126.32 11,520.00 11,606.32 116,393.68
2 103,742.79 23,126.32 10,475.43 12,650.89 103,742.79
23,126.32 3 89,953.32 23,126.32 9,336.85 13,789.47 89,953.32
4 74,922.80 23,126.32 8,095.80 15,030.52 74,922.80
5 58,539.53 23,126.32 6,743.05 16,383.27 58,539.53
6 40,681.77 23,126.32 5,268.56 17,857.76 40,681.77
7 21,216.81 23,126.32 3,661.36 19,464.96 21,216.81
8 0.00 23,126.32 1,909.51 21,216.81 0.00
CAPITAL 128000
INTERS 9%
PLAZO 8 aos

AOS CAPITAL CUOTA INTERS AMORTIZACIN SALDO

0 128000
1 116,394 23,126 11,520 11,606 116,394
2 103,743 23,126 10,475 12,651 103,743
3 89,953 23,126 9,337 13,789 89,953
4 74,923 23,126 8,096 15,031 74,923
5 58,540 23,126 6,743 16,383 58,540
6 40,682 23,126 5,269 17,858 40,682
7 21,217 23,126 3,661 19,465 21,217
8 0 23,126 1,910 21,217 0
57,011 128,000