<div id="pf1" class="pf w0 h0" data-page-no="1"><div class="pc pc1 w0 h0"><img class="bi x0 y0 w1 h1" alt="" src="https://files.passeidireto.com/a3ff96f9-82f5-4726-9f6f-504475f6a2a1/bg1.png"><div class="c x1 y1 w0 h2"><div class="t m0 x2 h3 y2 ff1 fs0 fc0 sc0 ls1f ws0">Ay<span class="blank"> </span>u<span class="blank"> </span>d<span class="blank"> </span>a<span class="blank"> </span>n<span class="blank _0"> </span>t<span class="blank"> </span>í<span class="blank"> </span>a<span class="blank _1"> </span>9</div><div class="t m0 x3 h3 y3 ff1 fs0 fc0 sc0 ls0 ws1">Macro<span class="blank"> </span>economía<span class="blank _2"> </span>In<span class="blank _3"></span>ternacional,<span class="blank _2"> </span>EAE240B</div><div class="t m0 x4 h4 y4 ff2 fs1 fc0 sc0 ls20 ws2">20<span class="blank"> </span>de<span class="blank"> </span>No<span class="blank _3"></span>viembre<span class="blank"> </span>2020</div><div class="t m0 x5 h5 y5 ff3 fs2 fc0 sc0 ls21 ws3">1.<span class="blank _4"> </span>Fijación<span class="blank"> </span>del<span class="blank"> </span>Tip<span class="blank _5"> </span>o<span class="blank"> </span>de<span class="blank"> </span>Cam<span class="blank _3"></span>bio</div><div class="t m0 x5 h6 y6 ff4 fs3 fc0 sc0 ls21 ws4">Sup<span class="blank _5"> </span>onga<span class="blank"> </span>una<span class="blank"> </span>economía<span class="blank"> </span>cuy<span class="blank _3"></span>a<span class="blank"> </span>demanda<span class="blank"> </span>p<span class="blank _5"> </span>or<span class="blank"> </span>saldos<span class="blank"> </span>monetarios<span class="blank"> </span>reales<span class="blank"> </span><span class="ff5 ls1">L</span><span class="ws5">puede<span class="blank"> </span>caracterizarse</span></div><div class="t m0 x5 h6 y7 ff4 fs3 fc0 sc0 ls21 ws6">p<span class="blank"> </span>or<span class="blank _6"> </span>la<span class="blank _6"> </span>siguien<span class="blank _7"></span>te<span class="blank _6"> </span>función:<span class="blank _6"> </span><span class="ff6 ws7">log(<span class="ff5 ls2">L</span><span class="ls22 ws8">)=<span class="ff5 ls3">a<span class="ff7 ls4">\ue621</span><span class="ls5">i</span></span></span>+<span class="blank _8"> </span>log(<span class="ff5 ls6">y</span><span class="ls7">)</span></span><span class="ls8 ws9">,<span class="blank"> </span>donde<span class="blank"> </span><span class="ff5 ls23 wsa">a><span class="ff6 ls9">0</span><span class="ls24 wsb">,i<span class="blank"> </span></span></span></span><span class="wsc">es<span class="blank"> </span>la<span class="blank"> </span>tasa<span class="blank"> </span>de<span class="blank"> </span>interés<span class="blank"> </span>nominal<span class="blank"> </span>e</span></div><div class="t m0 x5 h6 y8 ff5 fs3 fc0 sc0 lsa">y<span class="ff4 ls21 wsd">es<span class="blank"> </span>el<span class="blank"> </span>niv<span class="blank _7"></span>el<span class="blank"> </span>de<span class="blank"> </span>pro<span class="blank _5"> </span>ducto<span class="blank"> </span>real.<span class="blank"> </span>Suponga<span class="blank"> </span>que<span class="blank"> </span>el<span class="blank"> </span>gobierno<span class="blank"> </span>tiene<span class="blank"> </span>un<span class="blank _9"> </span>dé\ufb01cit<span class="blank"> </span>\ufb01scal<span class="blank"> </span>p<span class="blank _5"> </span>ermanen<span class="blank _3"></span>te<span class="blank"> </span>que</span></div><div class="t m0 x5 h6 y9 ff4 fs3 fc0 sc0 ls21 wse">obliga<span class="blank"> </span>al<span class="blank"> </span>Banco<span class="blank"> </span>Cen<span class="blank _7"></span>tral<span class="blank"> </span>a<span class="blank"> </span>expandir<span class="blank"> </span>la<span class="blank"> </span>can<span class="blank _3"></span>tidad<span class="blank"> </span>de<span class="blank"> </span>din<span class="blank _5"> </span>ero<span class="blank"> </span>al<span class="blank"> </span>4<span class="blank _a"> </span>%<span class="blank"> </span>an<span class="blank _3"></span>ual.<span class="blank"> </span>Con<span class="blank _5"> </span>sidere<span class="blank"> </span>que<span class="blank"> </span>no<span class="blank"> </span>ha<span class="blank _3"></span>y</div><div class="t m0 x5 h6 ya ff4 fs3 fc0 sc0 ls21 wsf">in\ufb02ación<span class="blank"> </span>en<span class="blank"> </span>dólares.<span class="blank"> </span>A<span class="blank _7"></span>demás,<span class="blank"> </span>la<span class="blank"> </span>economía<span class="blank"> </span>crece<span class="blank"> </span>al<span class="blank"> </span>4<span class="blank _8"> </span>%<span class="blank"> </span>an<span class="blank _3"></span>ual<span class="blank _5"> </span>.<span class="blank"> </span>Asuma<span class="blank"> </span>precios<span class="blank"> </span>\ufb02exibles.</div><div class="t m0 x6 h6 yb ff4 fs3 fc0 sc0 ls21 ws10">(a)<span class="blank _b"> </span>Asuma<span class="blank"> </span>que<span class="blank"> </span>el<span class="blank"> </span>tip<span class="blank _5"> </span>o<span class="blank"> </span>de<span class="blank"> </span>cam<span class="blank _3"></span>bio<span class="blank"> </span>es<span class="blank"> </span>\ufb02exible<span class="blank"> </span>y<span class="blank"> </span>en<span class="blank"> </span>un<span class="blank"> </span>momento<span class="blank"> </span>t=0<span class="blank"> </span>cae<span class="blank"> </span>la<span class="blank"> </span>tasa<span class="blank"> </span>de<span class="blank"> </span>crecimien<span class="blank _3"></span>to</div><div class="t m0 x7 h6 yc ff4 fs3 fc0 sc0 ls21 ws11">del<span class="blank"> </span>pro<span class="blank _5"> </span>ducto<span class="blank"> </span>al<span class="blank"> </span>0<span class="blank _a"> </span>%,<span class="blank"> </span>sin<span class="blank"> </span>afectar<span class="blank"> </span>el<span class="blank"> </span>nivel<span class="blank"> </span>de<span class="blank"> </span>producto<span class="blank"> </span>de<span class="blank"> </span>ese<span class="blank"> </span>momento.<span class="blank"> </span>¿Cuán<span class="blank _3"></span>to<span class="blank"> </span>cam<span class="blank _3"></span>bian</div><div class="t m0 x7 h6 yd ff4 fs3 fc0 sc0 ls21 ws12">i<span class="blank"> </span>y<span class="blank"> </span>E<span class="blank"> </span>en<span class="blank"> </span>el<span class="blank"> </span>momen<span class="blank _3"></span>to<span class="blank"> </span>del<span class="blank"> </span>sho<span class="blank _5"> </span>ck?<span class="blank"> </span>Gra\ufb01que<span class="blank"> </span>la<span class="blank"> </span>tra<span class="blank _3"></span>y<span class="blank _3"></span>ectoria<span class="blank"> </span>del<span class="blank"> </span>M,P<span class="blank _3"></span>,E,i<span class="blank"> </span>(donde<span class="blank"> </span>E<span class="blank"> </span>es<span class="blank"> </span>el<span class="blank"> </span>tipo</div><div class="t m0 x7 h6 ye ff4 fs3 fc0 sc0 ls21 ws13">de<span class="blank"> </span>cam<span class="blank _3"></span>b<span class="blank _5"> </span>io<span class="blank"> </span>nominal)<span class="blank"> </span>an<span class="blank _3"></span>tes<span class="blank"> </span>y<span class="blank"> </span>después<span class="blank"> </span>del<span class="blank"> </span>sho<span class="blank _5"> </span>c<span class="blank _3"></span>k.</div><div class="t m0 x6 h6 yf ff4 fs3 fc0 sc0 ls21 ws14">(b)<span class="blank _b"> </span>Ahora<span class="blank"> </span>sup<span class="blank _5"> </span>onga<span class="blank"> </span>que<span class="blank"> </span>con<span class="blank"> </span>tasa<span class="blank"> </span>de<span class="blank"> </span>crecimien<span class="blank _3"></span>to<span class="blank"> </span>del<span class="blank"> </span>pro<span class="blank _5"> </span>ducto<span class="blank"> </span>igual<span class="blank"> </span>a<span class="blank"> </span>0<span class="blank _a"> </span>%,<span class="blank"> </span>en<span class="blank"> </span>t=1<span class="blank"> </span>el<span class="blank"> </span>gobierno</div><div class="t m0 x7 h6 y10 ff4 fs3 fc0 sc0 ls21 ws15">decide<span class="blank"> </span>\ufb01jar<span class="blank"> </span>el<span class="blank"> </span>tip<span class="blank _5"> </span>o<span class="blank"> </span>de<span class="blank"> </span>cam<span class="blank _3"></span>bio<span class="blank"> </span>al<span class="blank"> </span>v<span class="blank _3"></span>alor<span class="blank"> </span><span class="ff5 lsb">E<span class="ff6 lsc">=</span><span class="lsd">E<span class="ff8 fs4 lse v1">1</span></span></span>(i.e<span class="blank"> </span>el<span class="blank"> </span>mismo<span class="blank"> </span>v<span class="blank _3"></span>alor<span class="blank"> </span>que<span class="blank"> </span>tenía<span class="blank"> </span>con<span class="blank"> </span>el</div><div class="t m0 x7 h6 y11 ff4 fs3 fc0 sc0 ls21 ws16">tip<span class="blank _5"> </span>o<span class="blank"> </span>de<span class="blank"> </span>cam<span class="blank _3"></span>bio<span class="blank"> </span>\ufb02exible<span class="blank"> </span>al<span class="blank"> </span>momento<span class="blank"> </span>de<span class="blank"> </span>cam<span class="blank _3"></span>biar<span class="blank"> </span>la<span class="blank"> </span>p<span class="blank _5"> </span>olítica<span class="blank"> </span>cam<span class="blank _3"></span>biaria).<span class="blank"> </span>En<span class="blank"> </span>el<span class="blank"> </span>instante</div><div class="t m0 x7 h6 y12 ff4 fs3 fc0 sc0 ls21 ws17">an<span class="blank _3"></span>terior<span class="blank"> </span>al<span class="blank"> </span>anuncio,<span class="blank"> </span>el<span class="blank"> </span>sado<span class="blank"> </span>de<span class="blank"> </span>reserv<span class="blank _3"></span>as<span class="blank"> </span>in<span class="blank _3"></span>ternacionales<span class="blank"> </span>(R)<span class="blank"> </span>y<span class="blank"> </span>el<span class="blank"> </span>sto<span class="blank _5"> </span>c<span class="blank _3"></span>k<span class="blank"> </span>de<span class="blank"> </span>saldos<span class="blank"> </span>mon<span class="blank _5"> </span>etarios</div><div class="t m0 x7 h6 y13 ff4 fs3 fc0 sc0 ls21 ws18">nominales<span class="blank"> </span>(M)<span class="blank"> </span>equiv<span class="blank _3"></span>alen<span class="blank"> </span>al<span class="blank"> </span>10<span class="blank _a"> </span>%<span class="blank"> </span>y<span class="blank"> </span>al<span class="blank"> </span>50<span class="blank _8"> </span>%<span class="blank"> </span>del<span class="blank"> </span>PIB<span class="blank"> </span>nominal<span class="blank"> </span>resp<span class="blank _5"> </span>ectiv<span class="blank _3"></span>amen<span class="blank _3"></span>te.<span class="blank"> </span>¿Cuánto</div><div class="t m0 x7 h6 y14 ff4 fs3 fc0 sc0 ls21 ws19">cam<span class="blank _3"></span>bian<span class="blank"> </span>M,<span class="blank _5"> </span>P<span class="blank _c"></span>,R<span class="blank"> </span>cuándo<span class="blank"> </span>se<span class="blank"> </span>\ufb01ja<span class="blank"> </span>el<span class="blank"> </span>tip<span class="blank _5"> </span>o<span class="blank"> </span>de<span class="blank"> </span>cam<span class="blank _3"></span>bio?<span class="blank"> </span>Gra\ufb01que<span class="blank"> </span>la<span class="blank"> </span>tray<span class="blank _3"></span>ectoria<span class="blank"> </span>de<span class="blank"> </span>M,P<span class="blank _c"></span>,E,i,R.</div><div class="t m0 x7 h6 y15 ff4 fs3 fc0 sc0 ls21 ws1a">Explique<span class="blank"> </span>y<span class="blank"> </span>justi\ufb01que.</div><div class="t m0 x5 h5 y16 ff3 fs2 fc0 sc0 ls21 ws1b">2.<span class="blank _4"> </span>P<span class="blank _3"></span>olítica<span class="blank"> </span>monetaria<span class="blank"> </span>con<span class="blank"> </span>Tip<span class="blank _5"> </span>o<span class="blank"> </span>de<span class="blank"> </span>cam<span class="blank _3"></span>bio<span class="blank"> </span>Fijo</div><div class="t m0 x5 h6 y17 ff4 fs3 fc0 sc0 ls21 ws1c">Sup<span class="blank _5"> </span>onga<span class="blank"> </span>que<span class="blank"> </span>una<span class="blank"> </span>economía<span class="blank"> </span>cuy<span class="blank _3"></span>a<span class="blank"> </span>demanda<span class="blank"> </span>p<span class="blank _5"> </span>or<span class="blank"> </span>saldos<span class="blank"> </span>nominales<span class="blank"> </span>está<span class="blank"> </span>dada<span class="blank"> </span>p<span class="blank _5"> </span>or<span class="blank"> </span>la<span class="blank"> </span>siguien<span class="blank _3"></span>te</div><div class="t m0 x5 h6 y18 ff4 fs3 fc0 sc0 ls21 ws1d">función:<span class="blank"> </span><span class="ff5 lsf">M<span class="ff6 ls10">=</span><span class="ls25 ws1e">kP<span class="blank"> </span>ye</span></span></div><div class="t m0 x8 h7 y19 ff9 fs4 fc0 sc0 ls11">\ue621<span class="ffa ls26">\ue621<span class="ffb ls12">i<span class="ff4 fs3 ls8 ws1f v2">,<span class="blank"> </span>donde<span class="blank"> </span><span class="ff5 ls13">k<span class="ff4 ls21 ws20">es<span class="blank"> </span>una<span class="blank"> </span>consan<span class="blank _7"></span>te,<span class="blank"> </span>P<span class="blank"> </span>es<span class="blank"> </span>el<span class="blank"> </span>niv<span class="blank _3"></span>el<span class="blank"> </span>d<span class="blank _5"> </span>e<span class="blank"> </span>precios,<span class="blank"> </span><span class="ff5 ls14">y</span><span class="ws21">es<span class="blank _d"> </span>el<span class="blank _d"> </span>pro<span class="blank"> </span>ducto</span></span></span></span></span></span></div><div class="t m0 x5 h6 y1a ff4 fs3 fc0 sc0 ls21 ws22">real,<span class="blank"> </span><span class="ffc ls15">\ue621</span><span class="ws23">es<span class="blank"> </span>la<span class="blank"> </span>semi-elasticidad<span class="blank"> </span>de<span class="blank"> </span>la<span class="blank"> </span>demanda<span class="blank"> </span>p<span class="blank _5"> </span>or<span class="blank"> </span>dinero<span class="blank"> </span>y<span class="blank"> </span>\ufb01nalmen<span class="blank _3"></span>te<span class="blank"> </span>i<span class="blank"> </span>es<span class="blank"> </span>la<span class="blank"> </span>tasa<span class="blank"> </span>de<span class="blank"> </span>interés.</span></div><div class="t m0 x5 h6 y1b ff4 fs3 fc0 sc0 ls21 ws24">En<span class="blank"> </span>el<span class="blank"> </span>equilibrio,<span class="blank"> </span>la<span class="blank"> </span>tasa<span class="blank"> </span>de<span class="blank"> </span>in<span class="blank _3"></span>terés<span class="blank"> </span>es<span class="blank"> </span>igual<span class="blank"> </span>a<span class="blank"> </span><span class="ff5 ls16">i<span class="ff6 ls17">=</span><span class="ls18">i<span class="ff9 fs4 ls19 v3">\u21e4</span><span class="ff6 ls1a">+<span class="ffc ls1b">\u270f</span>+</span></span></span><span class="ffc ws25">\u21e2</span><span class="ls8 ws26">,<span class="blank _e"> </span>donde<span class="blank"> </span><span class="ffc ls1c">\u270f</span></span><span class="ws27">es<span class="blank"> </span>la<span class="blank"> </span>tasa<span class="blank"> </span>esp<span class="blank _5"> </span>erada<span class="blank"> </span>de</span></div><div class="t m0 x5 h6 y1c ff4 fs3 fc0 sc0 ls21 ws28">depreciación<span class="blank"> </span>y<span class="blank"> </span><span class="ffc ls1d">\u21e2</span><span class="ws29">re\ufb02eja<span class="blank"> </span>el<span class="blank"> </span>riesgo<span class="blank"> </span>país.</span></div><div class="t m0 x6 h6 y1d ff4 fs3 fc0 sc0 ls21 ws23">(a)<span class="blank _b"> </span>Sup<span class="blank _5"> </span>onga<span class="blank"> </span>que<span class="blank"> </span>la<span class="blank"> </span>in\ufb02ación<span class="blank"> </span>externa<span class="blank"> </span>es<span class="blank"> </span>cero,<span class="blank"> </span>la<span class="blank"> </span>tasa<span class="blank"> </span>de<span class="blank"> </span>in<span class="blank _3"></span>terés<span class="blank"> </span>real<span class="blank"> </span>es<span class="blank"> </span>cero<span class="blank"> </span>y<span class="blank"> </span>el<span class="blank"> </span>pro<span class="blank _5"> </span>ducto</div><div class="t m0 x7 h6 y1e ff4 fs3 fc0 sc0 ls21 ws2a">al<span class="blank"> </span>5<span class="blank _a"> </span>%.<span class="blank"> </span>Además,<span class="blank"> </span>el<span class="blank"> </span>Banco<span class="blank"> </span>Cen<span class="blank _3"></span>tral<span class="blank"> </span>tiene<span class="blank"> </span>una<span class="blank"> </span>p<span class="blank _5"> </span>oñítica<span class="blank"> </span>de<span class="blank"> </span>tip<span class="blank _5"> </span>o<span class="blank"> </span>de<span class="blank"> </span>cam<span class="blank _3"></span>bio<span class="blank"> </span>\ufb01jo<span class="blank"> </span>creíble</div><div class="t m0 x7 h6 y1f ff4 fs3 fc0 sc0 ls21 ws2b">¿Cómo<span class="blank"> </span>deb<span class="blank _5"> </span>ería<span class="blank"> </span>ser<span class="blank"> </span>la<span class="blank"> </span>tasa<span class="blank"> </span>de<span class="blank"> </span>política<span class="blank"> </span>monetaria<span class="blank"> </span>del<span class="blank"> </span>Banco<span class="blank"> </span>Central?<span class="blank"> </span>¿Cuál<span class="blank"> </span>es<span class="blank"> </span>la<span class="blank"> </span>tasa<span class="blank"> </span>de</div><div class="t m0 x7 h6 y20 ff4 fs3 fc0 sc0 ls21 ws29">in\ufb02ación?¿Cuál<span class="blank"> </span>es<span class="blank"> </span>la<span class="blank"> </span>tasa<span class="blank"> </span>de<span class="blank"> </span>interés<span class="blank"> </span>doméstica<span class="blank"> </span>en<span class="blank"> </span>esta<span class="blank"> </span>economía?</div><div class="t m0 x6 h6 y21 ff4 fs3 fc0 sc0 ls21 ws2c">(b)<span class="blank _b"> </span>Asuma<span class="blank"> </span>que<span class="blank"> </span>la<span class="blank"> </span>semi-elasticidad<span class="blank"> </span>de<span class="blank"> </span>la<span class="blank"> </span>demanda<span class="blank"> </span>p<span class="blank _5"> </span>or<span class="blank"> </span>dinero<span class="blank"> </span><span class="ffc ls1e">\ue621</span>es<span class="blank"> </span>igual<span class="blank"> </span>0.05,<span class="blank"> </span>lo<span class="blank"> </span>que<span class="blank"> </span>signi\ufb01ca</div><div class="t m0 x7 h6 y22 ff4 fs3 fc0 sc0 ls21 ws2d">que<span class="blank"> </span>un<span class="blank"> </span>aumen<span class="blank _7"></span>to<span class="blank"> </span>en<span class="blank"> </span>la<span class="blank"> </span>tasa<span class="blank"> </span>de<span class="blank"> </span>inter<span class="blank _7"></span>és<span class="blank"> </span>de<span class="blank"> </span>1<span class="blank"> </span>punto<span class="blank"> </span>porcentual<span class="blank"> </span>produce<span class="blank"> </span>una<span class="blank"> </span>caída<span class="blank"> </span>de<span class="blank"> </span>5<span class="blank _8"> </span>%<span class="blank"> </span>en</div><div class="t m0 x0 h6 y23 ff4 fs3 fc0 sc0 ls21">1</div></div></div><div class="pi" data-data="{"ctm":[1.000000,0.000000,0.000000,1.000000,0.000000,0.000000]}"></div></div> <div id="pf2" class="pf w0 h0" data-page-no="2"><div class="pc pc2 w0 h0"><div class="c x1 y1 w0 h2"><div class="t m0 x7 h6 y24 ff4 fs3 fc0 sc0 ls21 ws2f">la<span class="blank"> </span>demanda<span class="blank"> </span>p<span class="blank _5"> </span>or<span class="blank"> </span>dinero.<span class="blank"> </span>Suponga<span class="blank"> </span>que,<span class="blank"> </span>de<span class="blank"> </span>manera<span class="blank"> </span>inesp<span class="blank _5"> </span>ereada<span class="blank"> </span>se<span class="blank"> </span>pro<span class="blank _5"> </span>duce<span class="blank"> </span>un<span class="blank"> </span>aumen<span class="blank _3"></span>to<span class="blank"> </span>en</div><div class="t m0 x7 h6 y25 ff4 fs3 fc0 sc0 ls21 ws30">el<span class="blank"> </span>riesgo<span class="blank"> </span>país<span class="blank"> </span><span class="ffc ls27">\u21e2</span><span class="ws31">de<span class="blank"> </span>5<span class="blank _a"> </span>%<span class="blank _5"> </span>.<span class="blank"> </span>¿Qué<span class="blank"> </span>impacto<span class="blank"> </span>espera<span class="blank"> </span>sobre<span class="blank"> </span>el<span class="blank"> </span>equilibrio<span class="blank"> </span>en<span class="blank"> </span>el<span class="blank"> </span>mercado<span class="blank"> </span>monetario?</span></div><div class="t m0 x0 h6 y23 ff4 fs3 fc0 sc0 ls21">2</div></div></div><div class="pi" data-data="{"ctm":[1.000000,0.000000,0.000000,1.000000,0.000000,0.000000]}"></div></div> <div id="pf3" class="pf w2 h8" data-page-no="3"><div class="pc pc3 w2 h8"><img fetchpriority="low" loading="lazy" class="bi x1 y1 w3 h9" alt="" src="https://files.passeidireto.com/a3ff96f9-82f5-4726-9f6f-504475f6a2a1/bg3.png"><div class="t m1 x9 ha y26 ffd fs5 fc1 sc0 ls28 ws32"><span class="fc1 sc0">Ay</span><span class="blank"> </span><span class="fc1 sc0">u</span><span class="blank"> </span><span class="fc1 sc0">d</span><span class="blank"> </span><span class="fc1 sc0">a</span><span class="blank"> </span><span class="fc1 sc0">n</span><span class="blank"> </span><span class="fc1 sc0">t</span><span class="blank"> </span><span class="fc1 sc0">í</span><span class="blank"> </span><span class="fc1 sc0">a</span></div><div class="t m2 x5 hb y27 ffd fs6 fc1 sc0 ls21"><span class="fc1 sc0">9</span></div><div class="t m3 xa hc y28 ffd fs7 fc1 sc0 ls29 ws33"><span class="fc1 sc0">Mac</span><span class="fc1 sc0">r</span><span class="fc1 sc0">o</span></div><div class="t m4 x9 hd y29 ffd fs8 fc1 sc0 ls2a ws34"><span class="fc1 sc0">Dd</span><span class="fc1 sc0">a</span></div><div class="t m5 xb he y2a ffd fs9 fc1 sc0 ls21"><span class="fc1 sc0">:</span></div><div class="t m6 xc hf y2b ffe fsa fc1 sc0 ls2b"><span class="fc1 sc0">logll</span></div><div class="t m7 xd h10 y2c ffd fsb fc1 sc0 ls21"><span class="fc1 sc0">)</span></div><div class="t m8 xe h11 y2d ffd fsc fc1 sc0 ls21"><span class="fc1 sc0">=</span></div><div class="t m9 xf h12 y2e ffd fsd fc1 sc0 ls21"><span class="fc1 sc0">a</span></div><div class="t ma x10 h13 y2f ffd fse fc1 sc0 ls21"><span class="fc1 sc0">-</span></div><div class="t mb x7 h14 y30 ffd fsf fc1 sc0 ls2c"><span class="fc1 sc0">it</span></div><div class="t mc x11 h15 y31 ffd fs10 fc1 sc0 ls21"><span class="fc1 sc0">'</span></div><div class="t md x12 h16 y32 ffd fs11 fc1 sc0 ls2d ws35"><span class="fc1 sc0">oy</span><span class="blank"> </span><span class="fc1 sc0">l</span><span class="blank"> </span><span class="fc1 sc0">y</span></div><div class="t me x13 h17 y33 ffd fs12 fc1 sc0 ls21"><span class="fc1 sc0">)</span></div><div class="t mf xc h18 y34 ffd fs13 fc1 sc0 ls21"><span class="fc1 sc0">u</span></div><div class="t m10 x14 h19 y35 ffd fs14 fc1 sc0 ls21"><span class="fc1 sc0">=</span></div><div class="t m11 xd h1a y36 ffd fs15 fc1 sc0 ls2e ws36"><span class="fc1 sc0">4.</span><span class="fc1 sc0">1</span></div><div class="t m12 xe h1b y37 ffd fs16 fc1 sc0 ls21"><span class="fc1 sc0">.</span></div><div class="t m13 xc h1c y38 ffd fs17 fc1 sc0 ls2f"><span class="fc1 sc0">It</span></div><div class="t m14 x15 h1d y39 ffd fs18 fc1 sc0 ls21"><span class="fc1 sc0">=</span></div><div class="t m15 x5 h1e y3a ffd fs19 fc1 sc0 ls21"><span class="fc1 sc0">O</span></div><div class="t m16 x16 h1f y3b fff fs1a fc1 sc0 ls30"><span class="fc1 sc0">g-</span></div><div class="t m17 x17 h20 y3c ffd fs1b fc1 sc0 ls21"><span class="fc1 sc0">-</span></div><div class="t m18 x15 h21 y3d ffd fs1c fc1 sc0 ls31"><span class="fc1 sc0">4-1</span></div><div class="t m19 xe h1b y3e ffd fs16 fc1 sc0 ls21"><span class="fc1 sc0">.</span></div><div class="t m1a x18 h22 y3f ffd fs1d fc1 sc0 ls32"><span class="fc1 sc0">a)</span></div><div class="t m1b x19 h23 y40 ffd fs1e fc1 sc0 ls21"><span class="fc1 sc0">'</span></div><div class="t m1c xc h24 y41 ffd fs1f fc1 sc0 ls21"><span class="fc1 sc0">=</span></div><div class="t m1d x14 h25 y42 ffd fs20 fc1 sc0 ls21"><span class="fc1 sc0">0</span></div><div class="t m1e x1a h26 y43 ffd fs21 fc1 sc0 ls33 ws37"><span class="fc1 sc0">An</span><span class="fc1 sc0">t</span><span class="fc1 sc0">es</span></div><div class="t m1f xc h27 y44 ffd fs22 fc1 sc0 ls34"><span class="fc1 sc0">del</span></div><div class="t m20 x15 h28 y45 ffd fs23 fc1 sc0 ls35 ws38"><span class="fc1 sc0">sho</span><span class="fc1 sc0">c</span><span class="fc1 sc0">k</span></div><div class="t m21 x1b h29 y46 ffd fs24 fc1 sc0 ls21"><span class="fc1 sc0">o</span></div><div class="t m22 x1c h2a y47 ff10 fs25 fc1 sc0 ls21"><span class="fc1 sc0">\u2463</span></div><div class="t m23 x1d h2b y48 ffd fs26 fc1 sc0 ls36"><span class="fc1 sc0">Eq</span></div><div class="t m24 x1e h2c y49 ffd fs27 fc1 sc0 ls21"><span class="fc1 sc0">.</span></div><div class="t m25 x1f h2d y4a ffd fs28 fc1 sc0 ls37"><span class="fc1 sc0">MM</span></div><div class="t m26 xd h2e y4b ffd fs29 fc1 sc0 ls21"><span class="fc1 sc0">:</span></div><div class="t m27 x20 h2f y4c ffd fs2a fc1 sc0 ls38 ws39"><span class="fc1 sc0">MI</span><span class="fc1 sc0">P</span></div><div class="t m28 x7 h30 y4d ffd fs2b fc1 sc0 ls21"><span class="fc1 sc0">=</span></div><div class="t m29 x21 h31 y4e ffd fs2c fc1 sc0 ls39"><span class="fc1 sc0">Lli</span></div><div class="t m2a x3 h32 y4f ffd fs2d fc1 sc0 ls21"><span class="fc1 sc0">,</span></div><div class="t m2b x1c h33 y50 ffd fs2e fc1 sc0 ls21"><span class="fc1 sc0">y</span></div><div class="t m2c x22 h34 y51 ffd fs2f fc1 sc0 ls21"><span class="fc1 sc0">)</span></div><div class="t m2d x23 h35 y52 ffd fs30 fc1 sc0 ls3a"><span class="fc1 sc0">110g</span></div><div class="t m2e x20 h36 y53 ffd fs31 fc1 sc0 ls3b"><span class="fc1 sc0">KM</span></div><div class="t m2f x7 h37 y54 ffd fs32 fc1 sc0 ls21"><span class="fc1 sc0">-</span></div><div class="t m30 x21 h38 y55 ffd fs33 fc1 sc0 ls3c"><span class="fc1 sc0">HP</span></div><div class="t m31 x24 h39 y56 ffd fs34 fc1 sc0 ls21"><span class="fc1 sc0">=</span></div><div class="t m32 x25 h3a y57 ffd fs35 fc1 sc0 ls21"><span class="fc1 sc0">a</span></div><div class="t m33 x26 h3b y58 ffd fs36 fc1 sc0 ls21"><span class="fc1 sc0">-</span></div><div class="t m34 x27 h3c y59 ffd fs37 fc1 sc0 ls3d"><span class="fc1 sc0">it</span></div><div class="t m35 x28 h3d y5a ffd fs38 fc1 sc0 ls3e"><span class="fc1 sc0">log</span></div><div class="t m36 x29 h3e y5b ff11 fs39 fc1 sc0 ls3f"><span class="fc1 sc0">ly</span></div><div class="t m37 x2a h3f y5c ffd fs3a fc1 sc0 ls21"><span class="fc1 sc0">)</span></div><div class="t m38 x2b h40 y5d ff10 fs3b fc1 sc0 ls21"><span class="fc1 sc0">\u2192</span></div><div class="t m39 x2 h41 y5e ffd fs3c fc1 sc0 ls40 ws3a"><span class="fc1 sc0">dif</span><span class="fc1 sc0">er</span><span class="blank _3"></span><span class="fc1 sc0">enc</span><span class="fc1 sc0">io</span></div><div class="t m3a x2c h42 y5f ff12 fs3d fc1 sc0 ls21"><span class="fc1 sc0">¥</span></div><div class="t m3b x2d h43 y60 ffd fs3e fc1 sc0 ls21"><span class="fc1 sc0">-</span></div><div class="t m3c x2e h44 y61 ff13 fs3f fc1 sc0 ls21"><span class="fc1 sc0">%</span></div><div class="t m3d x2f h45 y62 ffd fs40 fc1 sc0 ls21"><span class="fc1 sc0">=</span></div><div class="t m3e x30 h46 y63 ffd fs41 fc1 sc0 ls21"><span class="fc1 sc0">-</span></div><div class="t m3f x31 h47 y64 ffd fs42 fc1 sc0 ls41"><span class="fc1 sc0">si</span></div><div class="t m40 x32 h48 y65 ffd fs43 fc1 sc0 ls21"><span class="fc1 sc0">t</span></div><div class="t m41 x33 h49 y66 ff12 fs44 fc1 sc0 ls21"><span class="fc1 sc0">¥</span></div><div class="t m42 x34 h4a y67 ff13 fs45 fc1 sc0 ls21"><span class="fc1 sc0">\</span></div><div class="t m43 x35 h4b y68 ffd fs46 fc1 sc0 ls42"><span class="fc1 sc0">No</span></div><div class="t m44 x36 h4c y69 ffd fs47 fc1 sc0 ls43 ws3b"><span class="fc1 sc0">es</span><span class="fc1 sc0">tá</span></div><div class="t m45 x37 h4d y6a ffd fs48 fc1 sc0 ls44 ws3c"><span class="fc1 sc0">dentr</span><span class="fc1 sc0">o</span></div><div class="t m46 x38 h4e y6b ffd fs49 fc1 sc0 ls45"><span class="fc1 sc0">de</span></div><div class="t m47 x39 h4f y6c ffd fs4a fc1 sc0 ls46"><span class="fc1 sc0">un</span></div><div class="t m48 x3a h50 y6d ffd fs4b fc1 sc0 ls47"><span class="fc1 sc0">log</span></div><div class="t m49 x3b h51 y6e ffd fs4c fc1 sc0 ls21"><span class="fc1 sc0">.</span></div><div class="t m4a x9 h52 y6f ffd fs4d fc1 sc0 ls21"><span class="fc1 sc0">*</span></div><div class="t m4b x1d h53 y70 ffd fs4e fc1 sc0 ls48 ws3d"><span class="fc1 sc0">situa</span><span class="fc1 sc0">c</span><span class="fc1 sc0">ió</span><span class="fc1 sc0">n</span></div><div class="t m4c x3c h54 y71 ffd fs4f fc1 sc0 ls49"><span class="fc1 sc0">de</span></div><div class="t m4d xe h55 y72 ffd fs50 fc1 sc0 ls4a"><span class="fc1 sc0">eq</span></div><div class="t m4e xf h56 y73 ffd fs51 fc1 sc0 ls21"><span class="fc1 sc0">.</span></div><div class="t m4f x3d h57 y74 ffd fs52 fc1 sc0 ls21"><span class="fc1 sc0">:</span></div><div class="t m50 x3e h58 y75 ffd fs53 fc1 sc0 ls4b"><span class="fc1 sc0">no</span></div><div class="t m51 x1c h59 y76 ffd fs54 fc1 sc0 ls4c ws3e"><span class="fc1 sc0">ha</span><span class="blank _7"></span><span class="fc1 sc0">y</span></div><div class="t m52 x3f h5a y77 ffd fs55 fc1 sc0 ls21"><span class="fc1 sc0">A</span></div><div class="t m53 x40 h5b y78 ffd fs56 fc1 sc0 ls4d"><span class="fc1 sc0">en</span></div><div class="t m54 x28 h5c y79 ffd fs57 fc1 sc0 ls21"><span class="fc1 sc0">i</span></div><div class="t m55 x35 h5d y7a ff10 fs58 fc1 sc0 ls21"><span class="fc1 sc0">\u2192</span></div><div class="t m56 x41 h5e y7b ffd fs59 fc1 sc0 ls4e"><span class="fc1 sc0">si</span></div><div class="t m57 x2b h5f y7c ffd fs5a fc1 sc0 ls21"><span class="fc1 sc0">=</span></div><div class="t m58 x4 h60 y7d ffd fs5b fc1 sc0 ls21"><span class="fc1 sc0">0</span></div><div class="t m59 x42 h61 y7e ffd fs5c fc1 sc0 ls21"><span class="fc1 sc0">.</span></div><div class="t m5a x5 h62 y7f ff12 fs5d fc1 sc0 ls21"><span class="fc1 sc0">¥</span></div><div class="t m5b x43 h63 y80 ffd fs5e fc1 sc0 ls21"><span class="fc1 sc0">-</span></div><div class="t m5c x2d h64 y81 ff12 fs5f fc1 sc0 ls21"><span class="fc1 sc0">¥</span></div><div class="t m5d x44 h65 y82 ffd fs60 fc1 sc0 ls21"><span class="fc1 sc0">=</span></div><div class="t m5e x1c h66 y83 ff12 fs61 fc1 sc0 ls21"><span class="fc1 sc0">¥</span></div><div class="t m5f x45 h67 y84 ff14 fs62 fc1 sc0 ls21"><span class="fc1 sc0">}</span></div><div class="t m60 x2a h68 y85 ffd fs63 fc1 sc0 ls4f"><span class="fc1 sc0">41</span></div><div class="t m61 x46 h69 y86 ffd fs64 fc1 sc0 ls21"><span class="fc1 sc0">.</span></div><div class="t m62 x47 h6a y87 ffd fs65 fc1 sc0 ls21"><span class="fc1 sc0">-</span></div><div class="t m63 x37 h6b y88 ffd fs66 fc1 sc0 ls50"><span class="fc1 sc0">4%</span></div><div class="t m64 x48 h6c y89 ffd fs67 fc1 sc0 ls21"><span class="fc1 sc0">-</span></div><div class="t m65 x49 h6d y8a ffd fs68 fc1 sc0 ls21"><span class="fc1 sc0">o</span></div><div class="t m66 x4a h6e y8b ffd fs69 fc1 sc0 ls21"><span class="fc1 sc0">=</span></div><div class="t m67 x0 h6f y8c ffd fs6a fc1 sc0 ls51"><span class="fc1 sc0">TI</span></div><div class="t m68 x4b h70 y8d ff13 fs6b fc1 sc0 ls21"><span class="fc1 sc0">{</span></div><div class="t m69 x1e h71 y8e ffd fs6c fc1 sc0 ls21"><span class="fc1 sc0">i</span></div><div class="t m6a x1f h72 y8f ffd fs6d fc1 sc0 ls21"><span class="fc1 sc0">=</span></div><div class="t m6b x4c h73 y90 ff15 fs6e fc1 sc0 ls52 ws3f"><span class="fc1 sc0">rt</span><span class="blank _7"></span><span class="fc1 sc0">t</span><span class="fc1 sc0">p</span><span class="blank _3"></span><span class="fc1 sc0">t</span></div><div class="t m6c x4d h74 y91 ffd fs6f fc1 sc0 ls53"><span class="fc1 sc0">TI</span></div><div class="t m6d x4e h75 y92 ffd fs70 fc1 sc0 ls21"><span class="fc1 sc0">e</span></div><div class="t m6e x3f h76 y93 ffd fs71 fc1 sc0 ls54 ws40"><span class="fc1 sc0">FI</span><span class="fc1 sc0">SHE</span><span class="fc1 sc0">R</span></div><div class="t m6f x4f h77 y94 ff16 fs72 fc1 sc0 ls21"><span class="fc1 sc0">y</span></div><div class="t m70 x50 h78 y95 ffd fs73 fc1 sc0 ls55"><span class="fc1 sc0">ii.</span></div><div class="t m71 x51 h79 y96 ffd fs74 fc1 sc0 ls21"><span class="fc1 sc0">a</span></div><div class="t m72 x52 h7a y97 ffd fs75 fc1 sc0 ls56"><span class="fc1 sc0">ir</span></div><div class="t m73 x42 h7b y98 ffd fs76 fc1 sc0 ls21"><span class="fc1 sc0">-</span></div><div class="t m74 x48 h7c y99 ff17 fs77 fc1 sc0 ls57"><span class="fc1 sc0">Tt</span></div><div class="t m75 x4a h7d y9a ff18 fs78 fc1 sc0 ls58"><span class="fc1 sc0">FP</span></div><div class="t m76 x53 h7e y9b ffd fs79 fc1 sc0 ls21"><span class="fc1 sc0">t</span></div><div class="t m77 x3b h7f y9c ff19 fs7a fc1 sc0 ls21"><span class="fc1 sc0">#</span></div><div class="t m78 x54 h80 y9d ffd fs7b fc1 sc0 ls21"><span class="fc1 sc0">°</span></div><div class="t m79 x4c h81 y9e ff1a fs7c fc1 sc0 ls21"><span class="fc1 sc0">\u21b3</span></div><div class="t m7a x55 h82 y9f ffd fs7d fc1 sc0 ls59"><span class="fc1 sc0">ir</span></div><div class="t m7b xf h83 ya0 ffd fs7e fc1 sc0 ls21"><span class="fc1 sc0">_</span></div><div class="t m7c x10 h84 ya1 ffd fs7f fc1 sc0 ls21"><span class="fc1 sc0">q</span></div><div class="t m7d x56 h85 ya2 ffd fs80 fc1 sc0 ls5a"><span class="fc1 sc0">se</span></div><div class="t m7e x47 h86 ya3 ffd fs81 fc1 sc0 ls21"><span class="fc1 sc0">=</span></div><div class="t m7f x57 h87 ya4 ffd fs82 fc1 sc0 ls5b"><span class="fc1 sc0">ir</span></div><div class="t m80 x58 h88 ya5 ffd fs83 fc1 sc0 ls5c"><span class="fc1 sc0">xp</span></div></div><div class="pi" data-data="{"ctm":[1.000000,0.000000,0.000000,1.000000,0.000000,0.000000]}"></div></div> <div id="pf4" class="pf w2 h8" data-page-no="4"><div class="pc pc4 w2 h8"><img fetchpriority="low" loading="lazy" class="bi x1 y1 w3 h9" alt="" src="https://files.passeidireto.com/a3ff96f9-82f5-4726-9f6f-504475f6a2a1/bg4.png"><div class="t m81 x9 h89 ya6 ffd fs84 fc1 sc0 ls5d ws41"><span class="fc1 sc0">PD</span><span class="fc1 sc0">P</span></div><div class="t m82 x59 h8a ya7 ffd fs85 fc1 sc0 ls62 ws42"><span class="fc1 sc0">ab</span><span class="fc1 sc0">s</span><span class="fc1 sc0">olu</span><span class="fc1 sc0">t</span><span class="fc1 sc0">a</span></div><div class="t m83 x3c h8b ya8 ffd fs86 fc1 sc0 ls21"><span class="fc1 sc0">:</span></div><div class="t m84 x5a h8c ya9 ffd fs87 fc1 sc0 ls21"><span class="fc1 sc0">P</span></div><div class="t m85 x2d h8d yaa ffd fs88 fc1 sc0 ls21"><span class="fc1 sc0">-</span></div><div class="t m86 x2d h8e yab ffd fs89 fc1 sc0 ls21"><span class="fc1 sc0">-</span></div><div class="t m87 x3e h8f yac ffd fs8a fc1 sc0 ls21"><span class="fc1 sc0">P</span></div><div class="t m88 x5b h90 yad ffd fs8b fc1 sc0 ls21"><span class="fc1 sc0">'</span></div><div class="t m89 x5c h91 yae ffd fs8c fc1 sc0 ls21"><span class="fc1 sc0">.</span></div><div class="t m8a x1c h92 yaf ffd fs8d fc1 sc0 ls21"><span class="fc1 sc0">E</span></div><div class="t m8b x5d h93 yb0 ffd fs8e fc1 sc0 ls21"><span class="fc1 sc0">,</span></div><div class="t m8c x5e h94 yb1 ffd fs8f fc1 sc0 ls63 ws43"><span class="fc1 sc0">do</span><span class="fc1 sc0">nde</span></div><div class="t m8d x5f h95 yb2 ffd fs90 fc1 sc0 ls64"><span class="fc1 sc0">TC</span></div><div class="t m8e x37 h96 yb3 ffd fs91 fc1 sc0 ls65"><span class="fc1 sc0">es</span></div><div class="t m8f x60 h97 yb4 ff1b fs92 fc1 sc0 ls66 ws44"><span class="fc1 sc0">fle</span><span class="fc1 sc0">xi</span><span class="fc1 sc0">b</span><span class="fc1 sc0">le</span></div><div class="t m90 x61 h98 yb5 ffd fs93 fc1 sc0 ls21"><span class="fc1 sc0">.</span></div><div class="t m91 x4b h99 yb6 ffd fs94 fc1 sc0 ls67"><span class="fc1 sc0">PPP</span></div><div class="t m92 x59 h9a yb7 ffd fs95 fc1 sc0 ls68 ws45"><span class="fc1 sc0">re</span><span class="fc1 sc0">l</span><span class="blank"> </span><span class="fc1 sc0">a</span><span class="blank"> </span><span class="fc1 sc0">t</span><span class="blank"> </span><span class="fc1 sc0">i</span><span class="blank"> </span><span class="fc1 sc0">v</span><span class="fc1 sc0">a</span></div><div class="t m93 x3c h9b yb8 ffd fs96 fc1 sc0 ls21"><span class="fc1 sc0">:</span></div><div class="t m94 x5a h9c yb9 ff1c fs97 fc1 sc0 ls21"><span class="fc1 sc0">E</span></div><div class="t m95 x22 h9d yba ffd fs98 fc1 sc0 ls21"><span class="fc1 sc0">=</span></div><div class="t m96 x62 h9e ybb ffd fs99 fc1 sc0 ls69"><span class="fc1 sc0">TI</span></div><div class="t m97 x8 h9f ybc ffd fs9a fc1 sc0 ls6a"><span class="fc1 sc0">e-</span></div><div class="t m98 x45 ha0 ybd ffd fs9b fc1 sc0 ls6b"><span class="fc1 sc0">TIM</span></div><div class="t m99 x63 ha1 ybe ffd fs9c fc1 sc0 ls21"><span class="fc1 sc0">E</span></div><div class="t m9a x3f ha2 ybf ffd fs9d fc1 sc0 ls21"><span class="fc1 sc0">-</span></div><div class="t m9b x32 ha3 yc0 ffd fs9e fc1 sc0 ls21"><span class="fc1 sc0">O</span></div><div class="t m9c x6 ha4 yc1 ff1a fs9f fc1 sc0 ls21"><span class="fc1 sc0">\u21b3</span></div><div class="t m9d x2d ha5 yc2 ffd fsa0 fc1 sc0 ls6c"><span class="fc1 sc0">Ee</span></div><div class="t m9e x5b ha6 yc3 ffd fsa1 fc1 sc0 ls21"><span class="fc1 sc0">=</span></div><div class="t m9f x5c ha7 yc4 ffd fsa2 fc1 sc0 ls21"><span class="fc1 sc0">E</span></div><div class="t ma0 x5e ha8 yc5 ffd fsa3 fc1 sc0 ls21"><span class="fc1 sc0">Y</span></div><div class="t ma1 x23 ha9 yc6 ff1d fsa4 fc1 sc0 ls6d ws46"><span class="fc1 sc0">ta</span><span class="fc1 sc0">I</span></div><div class="t ma2 x64 haa yc7 ff12 fsa5 fc1 sc0 ls21"><span class="fc1 sc0">?</span></div><div class="t ma3 x41 hab yc8 ffd fsa6 fc1 sc0 ls21"><span class="fc1 sc0">-</span></div><div class="t ma4 x65 hac yc9 ff1a fsa7 fc1 sc0 ls21"><span class="fc1 sc0">\u21b3</span></div><div class="t ma5 x2d had yca ffd fsa8 fc1 sc0 ls6e"><span class="fc1 sc0">te</span></div><div class="t ma6 x5c hae ycb ffd fsa9 fc1 sc0 ls6f"><span class="fc1 sc0">sigue</span></div><div class="t ma7 x26 haf ycc ffd fsaa fc1 sc0 ls70"><span class="fc1 sc0">la</span></div><div class="t ma8 x66 hb0 ycd ffd fsab fc1 sc0 ls71"><span class="fc1 sc0">misma</span></div><div class="t ma9 x67 hb1 yce ffd fsac fc1 sc0 ls72 ws47"><span class="fc1 sc0">diná</span><span class="fc1 sc0">mic</span><span class="fc1 sc0">a</span></div><div class="t maa x68 hb2 ycf ffd fsad fc1 sc0 ls73"><span class="fc1 sc0">que</span></div><div class="t mab x69 hb3 yd0 ffd fsae fc1 sc0 ls74"><span class="fc1 sc0">los</span></div><div class="t mac x6a hb4 yd1 ffd fsaf fc1 sc0 ls75 ws48"><span class="fc1 sc0">pr</span><span class="fc1 sc0">ec</span><span class="fc1 sc0">io</span><span class="fc1 sc0">s</span></div><div class="t mad x6b hb5 yd2 ffd fsb0 fc1 sc0 ls21"><span class="fc1 sc0">.</span></div><div class="t mae x6c hb6 yd3 ffd fsb1 fc1 sc0 ls76"><span class="fc1 sc0">No</span></div><div class="t maf x6d hb7 yd4 ffd fsb2 fc1 sc0 ls77 ws49"><span class="fc1 sc0">ha</span><span class="blank _7"></span><span class="fc1 sc0">y</span></div><div class="t mb0 x43 hb8 yd5 ffd fsb3 fc1 sc0 ls21"><span class="fc1 sc0">A</span></div><div class="t mb1 x56 hb9 yd6 ffd fsb4 fc1 sc0 ls21"><span class="fc1 sc0">.</span></div><div class="t mb2 x9 hba yd7 ffd fsb5 fc1 sc0 ls78 ws4a"><span class="fc1 sc0">De</span><span class="fc1 sc0">s</span><span class="fc1 sc0">p</span><span class="fc1 sc0">u</span><span class="fc1 sc0">é</span><span class="fc1 sc0">s</span></div><div class="t mb3 x14 hbb yd8 ffd fsb6 fc1 sc0 ls79"><span class="fc1 sc0">del</span></div><div class="t mb4 x6 hbc yd9 ffd fsb7 fc1 sc0 ls7a ws4b"><span class="fc1 sc0">sho</span><span class="fc1 sc0">c</span><span class="fc1 sc0">k</span></div><div class="t mb5 x6e hbd yda ff13 fsb8 fc1 sc0 ls21"><span class="fc1 sc0">÷</span></div><div class="t mb6 x16 hbe ydb ffd fsb9 fc1 sc0 ls21"><span class="fc1 sc0">.</span></div><div class="t mb7 xa hbf ydc ff12 fsba fc1 sc0 ls21"><span class="fc1 sc0">¥</span></div><div class="t mb8 x6f hc0 ydd ffd fsbb fc1 sc0 ls7b"><span class="fc1 sc0">41</span></div><div class="t mb9 x70 hc1 yde ffd fsbc fc1 sc0 ls21"><span class="fc1 sc0">.</span></div><div class="t mba x71 hc2 ydf ffd fsbd fc1 sc0 ls21"><span class="fc1 sc0">-</span></div><div class="t mbb x72 hc3 ye0 ffd fsbe fc1 sc0 ls21"><span class="fc1 sc0">O</span></div><div class="t mbc x2c hc4 ye1 ffd fsbf fc1 sc0 ls21"><span class="fc1 sc0">=</span></div><div class="t mbd x3d hc5 ye2 ffd fsc0 fc1 sc0 ls7c"><span class="fc1 sc0">41</span></div><div class="t mbe x73 hc6 ye3 ffd fsc1 fc1 sc0 ls21"><span class="fc1 sc0">.</span></div><div class="t mbf x5b hc7 ye4 ffd fsc2 fc1 sc0 ls21"><span class="fc1 sc0">=</span></div><div class="t mc0 x24 hc8 ye5 ffd fsc3 fc1 sc0 ls7d"><span class="fc1 sc0">TI</span></div><div class="t mc1 x4b hc9 ye6 ffd fsc4 fc1 sc0 ls21"><span class="fc1 sc0">i</span></div><div class="t mc2 x1a hca ye7 ffd fsc5 fc1 sc0 ls21"><span class="fc1 sc0">=</span></div><div class="t mc3 x1e hcb ye8 ffd fsc6 fc1 sc0 ls7e"><span class="fc1 sc0">ir</span></div><div class="t mc4 x74 hcc ye9 ffd fsc7 fc1 sc0 ls21"><span class="fc1 sc0">_</span></div><div class="t mc5 x3c hcd yea ff1e fsc8 fc1 sc0 ls7f"><span class="fc1 sc0">Ht</span></div><div class="t mc6 x10 hce yeb ffd fsc9 fc1 sc0 ls80"><span class="fc1 sc0">TT</span></div><div class="t mc7 x73 hcf yec ffd fsca fc1 sc0 ls21"><span class="fc1 sc0">'</span></div><div class="t mc8 x1b hd0 yed ffd fscb fc1 sc0 ls21"><span class="fc1 sc0">t</span></div><div class="t mc9 x75 hd1 yee ffd fscc fc1 sc0 ls21"><span class="fc1 sc0">p</span></div><div class="t mca x18 hd2 yef ffd fscd fc1 sc0 ls21"><span class="fc1 sc0">i</span></div><div class="t mcb x1d hd3 yf0 ffd fsce fc1 sc0 ls21"><span class="fc1 sc0">=</span></div><div class="t mcc x19 hd4 yf1 ffd fscf fc1 sc0 ls81"><span class="fc1 sc0">it</span></div><div class="t mcd x15 hd5 yf2 ffd fsd0 fc1 sc0 ls82"><span class="fc1 sc0">tpt</span></div><div class="t mce x76 hd6 yf3 ffd fsd1 fc1 sc0 ls83"><span class="fc1 sc0">41</span></div><div class="t mcf x77 hc6 yf4 ffd fsc1 fc1 sc0 ls21"><span class="fc1 sc0">.</span></div><div class="t md0 x1b hd7 yf5 ff10 fsd2 fc1 sc0 ls21"><span class="fc1 sc0">\u2192</span></div><div class="t md1 x78 hd8 yf6 ffd fsd3 fc1 sc0 ls84 ws4c"><span class="fc1 sc0">Au</span><span class="blank"> </span><span class="fc1 sc0">m</span><span class="blank"> </span><span class="fc1 sc0">e</span><span class="blank"> </span><span class="fc1 sc0">n</span><span class="blank"> </span><span class="fc1 sc0">t</span><span class="blank"> </span><span class="fc1 sc0">a</span></div><div class="t md2 x79 hd9 yf7 ffd fsd4 fc1 sc0 ls21"><span class="fc1 sc0">i</span></div><div class="t md3 x4f hda yf8 ffd fsd5 fc1 sc0 ls21"><span class="fc1 sc0">.</span></div><div class="t md4 x18 hdb yf9 ffd fsd6 fc1 sc0 ls85"><span class="fc1 sc0">1.</span></div><div class="t md5 x7a hdc yfa ffd fsd7 fc1 sc0 ls86 ws4d"><span class="fc1 sc0">Dd</span><span class="fc1 sc0">a</span></div><div class="t md6 x7b hdd yfb ffd fsd8 fc1 sc0 ls87 ws4e"><span class="fc1 sc0">po</span><span class="fc1 sc0">r</span></div><div class="t md7 x55 hde yfc ffd fsd9 fc1 sc0 ls88 ws4f"><span class="fc1 sc0">sa</span><span class="fc1 sc0">l</span><span class="fc1 sc0">do</span><span class="fc1 sc0">s</span></div><div class="t md8 x73 hdf yfd ffd fsda fc1 sc0 ls5e ws50"><span class="fc1 sc0">no</span><span class="fc1 sc0">n</span></div><div class="t md9 x5c he0 yfe ffd fsdb fc1 sc0 ls21"><span class="fc1 sc0">.</span></div><div class="t mda x1c he1 yff ffd fsdc fc1 sc0 ls89 ws51"><span class="fc1 sc0">re</span><span class="fc1 sc0">a</span><span class="blank"> </span><span class="fc1 sc0">l</span><span class="blank"> </span><span class="fc1 sc0">e</span><span class="blank"> </span><span class="fc1 sc0">s</span></div><div class="t mdb x5e he2 y100 ffd fsdd fc1 sc0 ls21"><span class="fc1 sc0">:</span></div><div class="t mdc x7c he3 y101 ffd fsde fc1 sc0 ls8a"><span class="fc1 sc0">lli</span></div><div class="t mdd x33 he4 y102 ffd fsdf fc1 sc0 ls21"><span class="fc1 sc0">,</span></div><div class="t mde x4f he5 y103 ffd fse0 fc1 sc0 ls21"><span class="fc1 sc0">y</span></div><div class="t mdf x67 he6 y104 ffd fse1 fc1 sc0 ls21"><span class="fc1 sc0">)</span></div><div class="t me0 x41 he7 y105 ff10 fse2 fc1 sc0 ls21"><span class="fc1 sc0">\u2192</span></div><div class="t me1 x7d he8 y106 ffd fse3 fc1 sc0 ls8b ws52"><span class="fc1 sc0">At</span><span class="fc1 sc0">i</span></div><div class="t me2 x7e he9 y107 ffd fse4 fc1 sc0 ls21"><span class="fc1 sc0">;</span></div><div class="t me3 x7f hea y108 ffd fse5 fc1 sc0 ls21"><span class="fc1 sc0">A</span></div><div class="t me4 x80 heb y109 ffd fse6 fc1 sc0 ls21"><span class="fc1 sc0">-</span></div><div class="t me5 x61 hec y10a ffd fse7 fc1 sc0 ls21"><span class="fc1 sc0">L</span></div><div class="t me6 x9 hed y10b ff10 fse8 fc1 sc0 ls21"><span class="fc1 sc0">\u2192</span></div><div class="t me7 xb hee y10c ffd fse9 fc1 sc0 ls5f ws53"><span class="fc1 sc0">com</span><span class="fc1 sc0">o</span></div><div class="t me8 x55 hef y10d ffd fsea fc1 sc0 ls21"><span class="fc1 sc0">p</span></div><div class="t me9 x2c hf0 y10e ffd fseb fc1 sc0 ls21"><span class="fc1 sc0">"</span></div><div class="t mea xf hf1 y10f ffd fsec fc1 sc0 ls60 ws54"><span class="fc1 sc0">so</span><span class="fc1 sc0">n</span></div><div class="t meb x63 hf2 y110 ffd fsed fc1 sc0 ls8c ws55"><span class="fc1 sc0">fle</span><span class="fc1 sc0">x</span><span class="fc1 sc0">ible</span><span class="fc1 sc0">s</span></div><div class="t mec x81 hf3 y111 ffd fsee fc1 sc0 ls21"><span class="fc1 sc0">y</span></div><div class="t med x34 hf4 y112 ffd fsef fc1 sc0 ls8d"><span class="fc1 sc0">TC</span></div><div class="t mee x28 hf5 y113 ffd fsf0 fc1 sc0 ls8e ws56"><span class="fc1 sc0">ta</span><span class="fc1 sc0">mbién</span></div><div class="t mef x50 hf6 y114 ffd fsf1 fc1 sc0 ls21"><span class="fc1 sc0">,</span></div><div class="t mf0 x7d hf7 y115 ffd fsf2 fc1 sc0 ls8f ws57"><span class="fc1 sc0">ent</span><span class="fc1 sc0">onc</span><span class="fc1 sc0">es</span></div><div class="t mf1 x80 hf8 y116 ffd fsf3 fc1 sc0 ls90 ws58"><span class="fc1 sc0">aju</span><span class="fc1 sc0">s</span><span class="fc1 sc0">t</span><span class="fc1 sc0">e</span><span class="fc1 sc0">n</span></div><div class="t mf2 x82 hf9 y117 ffd fsf4 fc1 sc0 ls91"><span class="fc1 sc0">los</span></div><div class="t mf3 x83 hfa y118 ffd fsf5 fc1 sc0 ls21"><span class="fc1 sc0">P</span></div><div class="t mf4 x84 hfb y119 ffd fsf6 fc1 sc0 ls21"><span class="fc1 sc0">y</span></div><div class="t mf5 x85 hfc y11a ffd fsf7 fc1 sc0 ls92"><span class="fc1 sc0">no</span></div><div class="t mf6 x86 hfd y11b ffd fsf8 fc1 sc0 ls93"><span class="fc1 sc0">la</span></div><div class="t mf7 x87 hfe y11c ffd fsf9 fc1 sc0 ls94 ws59"><span class="fc1 sc0">of</span><span class="fc1 sc0">e</span><span class="fc1 sc0">r</span><span class="fc1 sc0">t</span><span class="fc1 sc0">a</span></div><div class="t mf8 x7b hff y11d ffd fsfa fc1 sc0 ls95"><span class="fc1 sc0">monetaria</span></div><div class="t mf9 x43 h100 y11e ffd fsfb fc1 sc0 ls21"><span class="fc1 sc0">:</span></div><div class="t mfa x88 h101 y11f ffd fsfc fc1 sc0 ls96"><span class="fc1 sc0">Ñlpp</span></div><div class="t mfb x7b h102 y120 ffd fsfd fc1 sc0 ls21"><span class="fc1 sc0">-</span></div><div class="t mfc x3c h103 y121 ff1f fsfe fc1 sc0 ls97"><span class="fc1 sc0">ji</span></div><div class="t mfd x2c h104 y122 ff20 fsff fc1 sc0 ls98"><span class="fc1 sc0">liiy</span></div><div class="t mfe x7 h105 y123 ffd fs100 fc1 sc0 ls21"><span class="fc1 sc0">)</span></div><div class="t mff x24 h106 y124 ff10 fs101 fc1 sc0 ls21"><span class="fc1 sc0">\u2192</span></div><div class="t m100 x89 h107 y125 ffd fs102 fc1 sc0 ls99"><span class="fc1 sc0">se</span></div><div class="t m101 x32 h108 y126 ffd fs103 fc1 sc0 ls9a ws5a"><span class="fc1 sc0">aju</span><span class="fc1 sc0">s</span><span class="fc1 sc0">t</span><span class="fc1 sc0">a</span></div><div class="t m102 x51 h109 y127 ffd fs104 fc1 sc0 ls9b"><span class="fc1 sc0">con</span></div><div class="t m103 x68 h10a y128 ffd fs105 fc1 sc0 ls9c"><span class="fc1 sc0">un</span></div><div class="t m104 x7e h10b y129 ffd fs106 fc1 sc0 ls9d ws5b"><span class="fc1 sc0">sa</span><span class="fc1 sc0">l</span><span class="fc1 sc0">t</span><span class="fc1 sc0">o</span></div><div class="t m105 x8a h10c y12a ffd fs107 fc1 sc0 ls9e"><span class="fc1 sc0">en</span></div><div class="t m106 x53 h10d y12b ffd fs108 fc1 sc0 ls9f"><span class="fc1 sc0">los</span></div><div class="t m107 x89 h10e y12c ffd fs109 fc1 sc0 lsa0 ws5c"><span class="fc1 sc0">pr</span><span class="fc1 sc0">ec</span><span class="fc1 sc0">io</span><span class="fc1 sc0">s</span></div><div class="t m108 x8b h10f y12d ffd fs10a fc1 sc0 ls21"><span class="fc1 sc0">.</span></div><div class="t m109 x18 h110 y12e ffd fs10b fc1 sc0 lsa1"><span class="fc1 sc0">1.</span></div><div class="t m10a x8c h111 y12f ffd fs10c fc1 sc0 lsa2"><span class="fc1 sc0">Ppp</span></div><div class="t m10b xc h112 y130 ffd fs10d fc1 sc0 ls21"><span class="fc1 sc0">:</span></div><div class="t m10c x87 h113 y131 ff21 fs10e fc1 sc0 lsa3"><span class="fc1 sc0">pp</span></div><div class="t m10d x8d h114 y132 ffd fs10f fc1 sc0 ls21"><span class="fc1 sc0">=</span></div><div class="t m10e x8e h115 y133 ffd fs110 fc1 sc0 lsa4"><span class="fc1 sc0">PP</span></div><div class="t m10f x72 h116 y134 ffd fs111 fc1 sc0 ls21"><span class="fc1 sc0">.</span></div><div class="t m110 x8f h117 y135 ffd fs112 fc1 sc0 lsa5"><span class="fc1 sc0">EP</span></div><div class="t m111 x5b h118 y136 ffd fs113 fc1 sc0 ls21"><span class="fc1 sc0">}</span></div><div class="t m112 x1c h119 y137 ffd fs114 fc1 sc0 lsa6 ws5d"><span class="fc1 sc0">sa</span><span class="fc1 sc0">l</span><span class="fc1 sc0">ta</span></div><div class="t m113 x27 h11a y138 ffd fs115 fc1 sc0 ls21"><span class="fc1 sc0">E</span></div><div class="t m114 x6e h11b y139 ffd fs116 fc1 sc0 ls21"><span class="fc1 sc0">*</span></div><div class="t m115 x90 h11c y13a ffd fs117 fc1 sc0 lsa7"><span class="fc1 sc0">PPP</span></div><div class="t m116 xc h11d y13b ffd fs118 fc1 sc0 lsa8 ws5e"><span class="fc1 sc0">re</span><span class="fc1 sc0">l</span><span class="blank"> </span><span class="fc1 sc0">a</span><span class="blank"> </span><span class="fc1 sc0">t</span><span class="blank"> </span><span class="fc1 sc0">i</span><span class="blank"> </span><span class="fc1 sc0">v</span><span class="fc1 sc0">a</span></div><div class="t m117 x20 h11e y13c ffd fs119 fc1 sc0 ls21"><span class="fc1 sc0">:</span></div><div class="t m118 x2d h11f y13d ff22 fs11a fc1 sc0 ls61 ws5f"><span class="fc1 sc0">.</span><span class="blank _3"></span><span class="fc1 sc0">ee#s=t</span><span class="fc1 sc0">-e--</span><span class="fc1 sc0">JO</span><span class="blank _3"></span></div><div class="t m119 x41 h120 y13e ffd fs11b fc1 sc0 ls21"><span class="fc1 sc0">y</span></div><div class="t m11a x91 h121 y13f ffd fs11c fc1 sc0 lsa9 ws60"><span class="fc1 sc0">Ta</span><span class="blank"> </span><span class="fc1 sc0">s</span><span class="blank"> </span><span class="fc1 sc0">a</span></div><div class="t m11b x42 h122 y140 ffd fs11d fc1 sc0 lsaa"><span class="fc1 sc0">de</span></div><div class="t m11c x92 h123 y141 ffd fs11e fc1 sc0 lsab"><span class="fc1 sc0">dep</span></div><div class="t m11d x93 h124 y142 ffd fs11f fc1 sc0 ls21"><span class="fc1 sc0">.</span></div><div class="t m11e x39 h125 y143 ffd fs120 fc1 sc0 lsac ws61"><span class="fc1 sc0">ser</span><span class="fc1 sc0">á</span></div><div class="t m11f x94 h126 y144 ffd fs121 fc1 sc0 ls21"><span class="fc1 sc0">m</span></div><div class="t m120 x51 h127 y145 ffd fs122 fc1 sc0 lsad"><span class="fc1 sc0">de</span></div><div class="t m121 x57 h128 y146 ffd fs123 fc1 sc0 lsae"><span class="fc1 sc0">41</span></div><div class="t m122 x95 h129 y147 ffd fs124 fc1 sc0 ls21"><span class="fc1 sc0">.</span></div><div class="t m123 x92 h12a y148 ffd fs125 fc1 sc0 lsaf ws62"><span class="fc1 sc0">lg</span><span class="fc1 sc0">u</span><span class="fc1 sc0">al</span></div><div class="t m124 x61 h12b y149 ffd fs126 fc1 sc0 lsb0"><span class="fc1 sc0">que</span></div><div class="t m125 x96 h12c y14a ffd fs127 fc1 sc0 lsb1"><span class="fc1 sc0">los</span></div><div class="t m126 x97 h12d y14b ffd fs128 fc1 sc0 ls21"><span class="fc1 sc0">p</span></div><div class="t m127 x98 h12e y14c ffd fs129 fc1 sc0 ls21"><span class="fc1 sc0">)</span></div><div class="t m128 x6c h12f y14d ffd fs12a fc1 sc0 ls21"><span class="fc1 sc0">.</span></div><div class="t m129 x25 h130 y14e ffd fs12b fc1 sc0 lsb2"><span class="fc1 sc0">41</span></div><div class="t m12a x30 h131 y14f ffd fs12c fc1 sc0 ls21"><span class="fc1 sc0">.</span></div></div><div class="pi" data-data="{"ctm":[1.000000,0.000000,0.000000,1.000000,0.000000,0.000000]}"></div></div> <div id="pf5" class="pf w2 h8" data-page-no="5"><div class="pc pc5 w2 h8"><img fetchpriority="low" loading="lazy" class="bi x1 y1 w3 h9" alt="" src="https://files.passeidireto.com/a3ff96f9-82f5-4726-9f6f-504475f6a2a1/bg5.png"><div class="t m12b x99 h132 y150 ffd fs12d fc1 sc0 ls21"><span class="fc1 sc0">\u2022</span></div><div class="t m12c x28 h133 y151 ffd fs12e fc1 sc0 lsb6"><span class="fc1 sc0">MM</span></div><div class="t m12d x9a h134 y152 ffd fs12f fc1 sc0 lsb7"><span class="fc1 sc0">ME</span></div><div class="t m12e x9b h135 y153 ffd fs130 fc1 sc0 lsb8"><span class="fc1 sc0">14%</span></div><div class="t m12f x2d h136 y154 ffd fs131 fc1 sc0 lsb9"><span class="fc1 sc0">41</span></div><div class="t m130 x73 h137 y155 ffd fs132 fc1 sc0 ls21"><span class="fc1 sc0">.</span></div><div class="t m131 x9c h138 y156 ffd fs133 fc1 sc0 ls21"><span class="fc1 sc0">-</span></div><div class="t m132 x68 h139 y157 ffd fs134 fc1 sc0 lsba"><span class="fc1 sc0">41</span></div><div class="t m133 x48 h13a y158 ffd fs135 fc1 sc0 ls21"><span class="fc1 sc0">.</span></div><div class="t m134 x2d h13b y159 ffd fs136 fc1 sc0 ls21"><span class="fc1 sc0">+</span></div><div class="t m135 x58 h13c y15a ffd fs137 fc1 sc0 lsbb"><span class="fc1 sc0">Ut</span></div><div class="t m136 x9d h13d y15b ff23 fs138 fc1 sc0 lsbc"><span class="fc1 sc0">dt</span></div><div class="t m137 x9 h13e y15c ffd fs139 fc1 sc0 ls21"><span class="fc1 sc0">.</span></div><div class="t m138 x1d h13f y15d ffd fs13a fc1 sc0 lsbd ws63"><span class="fc1 sc0">Ta</span><span class="blank"> </span><span class="fc1 sc0">t</span><span class="blank"> </span><span class="fc1 sc0">o</span></div><div class="t m139 x4c h140 y15e ffd fs13b fc1 sc0 ls21"><span class="fc1 sc0">P</span></div><div class="t m13a x55 h141 y15f ffd fs13c fc1 sc0 lsb3 ws64"><span class="fc1 sc0">com</span><span class="fc1 sc0">o</span></div><div class="t m13b x73 h142 y160 ffd fs13d fc1 sc0 ls21"><span class="fc1 sc0">E</span></div><div class="t m13c x24 h143 y161 ffd fs13e fc1 sc0 lsbe ws65"><span class="fc1 sc0">sa</span><span class="fc1 sc0">l</span><span class="fc1 sc0">t</span><span class="fc1 sc0">o</span><span class="fc1 sc0">s</span></div><div class="t m13d x34 h144 y162 ffd fs13f fc1 sc0 lsbf"><span class="fc1 sc0">en</span></div><div class="t m13e x9e h145 y163 ffd fs140 fc1 sc0 lsc0"><span class="fc1 sc0">el</span></div><div class="t m13f x64 h146 y164 ffd fs141 fc1 sc0 lsc1 ws66"><span class="fc1 sc0">ni</span><span class="fc1 sc0">v</span><span class="fc1 sc0">el</span></div><div class="t m140 x2b h147 y165 ffd fs142 fc1 sc0 ls21"><span class="fc1 sc0">y</span></div><div class="t m141 x68 h148 y166 ffd fs143 fc1 sc0 lsc2"><span class="fc1 sc0">después</span></div><div class="t m142 x4a h149 y167 ff24 fs144 fc1 sc0 lsc3 ws67"><span class="fc1 sc0">em</span><span class="fc1 sc0">pi</span><span class="fc1 sc0">ez</span><span class="fc1 sc0">a</span></div><div class="t m143 x9f h14a y168 ffd fs145 fc1 sc0 ls21"><span class="fc1 sc0">a</span></div><div class="t m144 xa0 h14b y169 ffd fs146 fc1 sc0 lsc4 ws68"><span class="fc1 sc0">cr</span><span class="fc1 sc0">e</span><span class="fc1 sc0">ce</span><span class="fc1 sc0">r</span></div><div class="t m145 xa1 h14c y16a ffd fs147 fc1 sc0 ls21"><span class="fc1 sc0">a</span></div><div class="t m146 x9 h14d y16b ffd fs148 fc1 sc0 lsc5 ws69"><span class="fc1 sc0">ta</span><span class="fc1 sc0">sa</span></div><div class="t m147 x16 h14e y16c ffd fs149 fc1 sc0 lsc6 ws6a"><span class="fc1 sc0">con</span><span class="fc1 sc0">s</span><span class="fc1 sc0">t</span><span class="fc1 sc0">an</span><span class="fc1 sc0">t</span><span class="fc1 sc0">e</span></div><div class="t m148 x88 h14f y16d ffd fs14a fc1 sc0 ls21"><span class="fc1 sc0">M</span></div><div class="t m149 x16 h150 y16e ffd fs14b fc1 sc0 lsc7"><span class="fc1 sc0">no</span></div><div class="t m14a xa2 h151 y16f ffd fs14c fc1 sc0 lsc8 ws6b"><span class="fc1 sc0">su</span><span class="fc1 sc0">f</span><span class="fc1 sc0">r</span><span class="fc1 sc0">e</span></div><div class="t m14b x7 h152 y170 ffd fs14d fc1 sc0 ls21"><span class="fc1 sc0">A</span></div><div class="t m14c x21 h153 y171 ffd fs14e fc1 sc0 ls21"><span class="fc1 sc0">.</span></div><div class="t m14d x6e h154 y172 ffd fs14f fc1 sc0 lsc9"><span class="fc1 sc0">Al</span></div><div class="t m14e xa3 h155 y173 ffd fs150 fc1 sc0 ls21"><span class="fc1 sc0">"</span></div><div class="t m14f xa4 h156 y174 ffd fs151 fc1 sc0 ls21"><span class="fc1 sc0">i</span></div><div class="t m150 xa5 h157 y175 ff13 fs152 fc1 sc0 ls21"><span class="fc1 sc0">:</span></div><div class="t m151 xa6 h158 y176 ffd fs153 fc1 sc0 ls21"><span class="fc1 sc0">"</span></div><div class="t m152 x45 h159 y177 ff12 fs154 fc1 sc0 ls21"><span class="fc1 sc0">¡</span></div><div class="t m153 x67 h15a y178 ff12 fs155 fc1 sc0 ls21"><span class="fc1 sc0">¥</span></div><div class="t m154 xa7 h15b y179 ff13 fs156 fc1 sc0 ls21"><span class="fc1 sc0">:</span></div><div class="t m155 x7d h15c y17a ffd fs157 fc1 sc0 ls21"><span class="fc1 sc0">.</span></div><div class="t m156 x8a h15d y17b ff13 fs158 fc1 sc0 lsb4 ws6c"><span class="fc1 sc0">Indi</span><span class="fc1 sc0">o</span></div><div class="t m157 x1b h15e y17c ffd fs159 fc1 sc0 ls21"><span class="fc1 sc0">o</span></div><div class="t m158 x75 h15f y17d ffd fs15a fc1 sc0 lsca"><span class="fc1 sc0">te</span></div><div class="t m159 x9 h160 y17e ffd fs15b fc1 sc0 ls21"><span class="fc1 sc0">°</span></div><div class="t m15a x7a h161 y17f ffd fs15c fc1 sc0 lscb"><span class="fc1 sc0">TC</span></div><div class="t m15b xa8 h162 y180 ff25 fs15d fc1 sc0 lscc"><span class="fc1 sc0">fijo</span></div><div class="t m15c xa9 h163 y181 ffd fs15e fc1 sc0 lscd"><span class="fc1 sc0">E-</span></div><div class="t m15d x76 h164 y182 ffd fs15f fc1 sc0 ls21"><span class="fc1 sc0">=</span></div><div class="t m15e x7 h165 y183 ffd fs160 fc1 sc0 lsce"><span class="fc1 sc0">El</span></div><div class="t m15f x24 h166 y184 ffd fs161 fc1 sc0 lscf"><span class="fc1 sc0">en</span></div><div class="t m160 x30 h167 y185 ffd fs162 fc1 sc0 ls21"><span class="fc1 sc0">t</span></div><div class="t m161 x27 h168 y186 ffd fs163 fc1 sc0 lsd0"><span class="fc1 sc0">=p</span></div><div class="t m162 x6e h169 y187 ff26 fs164 fc1 sc0 lsd1 ws6d"><span class="fc1 sc0">Ay</span><span class="blank"> </span><span class="fc1 sc0">l</span><span class="blank"> </span><span class="fc1 sc0">y</span></div><div class="t m163 x17 h16a y188 ffd fs165 fc1 sc0 ls21"><span class="fc1 sc0">=</span></div><div class="t m164 x5 h16b y189 ffd fs166 fc1 sc0 lsd2"><span class="fc1 sc0">Oil</span></div><div class="t m165 xa h16c y18a ffd fs167 fc1 sc0 ls21"><span class="fc1 sc0">.</span></div><div class="t m166 x36 h16d y18b ffd fs168 fc1 sc0 ls21"><span class="fc1 sc0">y</span></div><div class="t m167 x91 h16e y18c ffd fs169 fc1 sc0 ls21"><span class="fc1 sc0">:</span></div><div class="t m168 xaa h16f y18d ffd fs16a fc1 sc0 lsd3 ws6e"><span class="fc1 sc0">pr</span><span class="fc1 sc0">o</span><span class="fc1 sc0">duc</span><span class="fc1 sc0">t</span><span class="fc1 sc0">o</span></div><div class="t m169 x39 h170 y18e ffd fs16b fc1 sc0 lsd4 ws6f"><span class="fc1 sc0">re</span><span class="fc1 sc0">a</span><span class="blank"> </span><span class="fc1 sc0">l</span></div><div class="t m16a x9 h171 y18f ffd fs16c fc1 sc0 ls21"><span class="fc1 sc0">\u2022</span></div><div class="t m16b x88 h172 y190 ffd fs16d fc1 sc0 lsd5 ws70"><span class="fc1 sc0">IO</span><span class="fc1 sc0">GLE</span></div><div class="t m16c x1f h173 y191 ff27 fs16e fc1 sc0 ls21"><span class="fc1 sc0">)</span></div><div class="t m16d x36 h174 y192 ffd fs16f fc1 sc0 ls21"><span class="fc1 sc0">y</span></div><div class="t m16e x46 h175 y193 ffd fs170 fc1 sc0 ls21"><span class="fc1 sc0">.</span></div><div class="t m16f x51 h176 y194 ffd fs171 fc1 sc0 ls21"><span class="fc1 sc0">P</span></div><div class="t m170 x7d h177 y195 ffd fs172 fc1 sc0 ls21"><span class="fc1 sc0">:</span></div><div class="t m171 x68 h178 y196 ffd fs173 fc1 sc0 lsd6 ws71"><span class="fc1 sc0">pr</span><span class="fc1 sc0">o</span><span class="fc1 sc0">duc</span><span class="fc1 sc0">t</span><span class="fc1 sc0">o</span></div><div class="t m172 xab h179 y197 ffd fs174 fc1 sc0 lsd7 ws72"><span class="fc1 sc0">no</span><span class="fc1 sc0">mina</span><span class="fc1 sc0">l</span></div><div class="t m173 x21 h17a y198 ffd fs175 fc1 sc0 lsd8"><span class="fc1 sc0">TC</span></div><div class="t m174 x3 h17b y199 ffd fs176 fc1 sc0 lsd9"><span class="fc1 sc0">fijo</span></div><div class="t m175 x50 h17c y19a ffd fs177 fc1 sc0 ls21"><span class="fc1 sc0">R</span></div><div class="t m176 x47 h17d y19b ffd fs178 fc1 sc0 ls21"><span class="fc1 sc0">=</span></div><div class="t m177 x57 h17e y19c ffd fs179 fc1 sc0 lsda ws73"><span class="fc1 sc0">0,</span><span class="fc1 sc0">1</span></div><div class="t m178 x48 h17f y19d ffd fs17a fc1 sc0 ls21"><span class="fc1 sc0">.</span></div><div class="t m179 xac h180 y19e ffd fs17b fc1 sc0 ls21"><span class="fc1 sc0">Y</span></div><div class="t m17a x49 h181 y19f ffd fs17c fc1 sc0 ls21"><span class="fc1 sc0">-</span></div><div class="t m17b xad h182 y1a0 ffd fs17d fc1 sc0 ls21"><span class="fc1 sc0">P</span></div><div class="t m17c xae h183 y1a1 ffd fs17e fc1 sc0 lsdb"><span class="fc1 sc0">TC</span></div><div class="t m17d xe h184 y1a2 ffd fs17f fc1 sc0 lsb5 ws74"><span class="fc1 sc0">Fle</span><span class="fc1 sc0">x</span></div><div class="t m17e x41 h185 y1a3 ffd fs180 fc1 sc0 ls21"><span class="fc1 sc0">M</span></div><div class="t m17f x51 h186 y1a4 ffd fs181 fc1 sc0 ls21"><span class="fc1 sc0">=</span></div><div class="t m180 x52 h187 y1a5 ff28 fs182 fc1 sc0 lsdc ws75"><span class="fc1 sc0">0,</span><span class="fc1 sc0">5</span></div><div class="t m181 x58 h188 y1a6 ffd fs183 fc1 sc0 ls21"><span class="fc1 sc0">-</span></div><div class="t m182 x38 h189 y1a7 ffd fs184 fc1 sc0 ls21"><span class="fc1 sc0">y</span></div><div class="t m183 x7f h17f y1a8 ffd fs17a fc1 sc0 ls21"><span class="fc1 sc0">-</span></div><div class="t m184 x93 h18a y1a9 ffd fs185 fc1 sc0 ls21"><span class="fc1 sc0">P</span></div><div class="t m185 x17 h18b y1aa ff29 fs186 fc1 sc0 ls21"><span class="fc1 sc0">\u21d0</span></div><div class="t m186 x3c h18c y1ab ffd fs187 fc1 sc0 ls21"><span class="fc1 sc0">o</span></div><div class="t m187 x43 h18d y1ac ff29 fs188 fc1 sc0 ls21"><span class="fc1 sc0">\u21d0</span></div><div class="t m188 x56 h18e y1ad ffd fs189 fc1 sc0 ls21"><span class="fc1 sc0">1</span></div><div class="t m189 x26 h18f y1ae ffd fs18a fc1 sc0 ls21"><span class="fc1 sc0">t</span></div></div><div class="pi" data-data="{"ctm":[1.000000,0.000000,0.000000,1.000000,0.000000,0.000000]}"></div></div> <div id="pf6" class="pf w2 h8" data-page-no="6"><div class="pc pc6 w2 h8"><img fetchpriority="low" loading="lazy" class="bi x1 y1 w3 h9" alt="" src="https://files.passeidireto.com/a3ff96f9-82f5-4726-9f6f-504475f6a2a1/bg6.png"><div class="t m18a x4b h190 y1af ffd fs18b fc1 sc0 ls21">1</div><div class="t m18b x87 h191 y1b0 ffd fs18c fc1 sc0 ls21">.</div><div class="t m18c x8c h192 y1b1 ffd fs18d fc1 sc0 lsdf">El</div><div class="t m18d x16 h193 y1b2 ffd fs18e fc1 sc0 ls21">-</div><div class="t m18e x8e h194 y1b3 ffd fs18f fc1 sc0 ls21">E</div><div class="t m18f x35 h195 y1b4 ffd fs190 fc1 sc0 ls21">*</div><div class="t m190 xaf h196 y1b5 ffd fs191 fc1 sc0 lse0">E-</div><div class="t m191 x51 h197 y1b6 ffd fs192 fc1 sc0 ls21">O</div><div class="t m192 x52 h198 y1b7 ffd fs193 fc1 sc0 ls21">a</div><div class="t m193 x95 h199 y1b8 ffd fs194 fc1 sc0 ls21">t</div><div class="t m194 x7e h19a y1b9 ffd fs195 fc1 sc0 lse1">-1</div><div class="t m195 x49 h19b y1ba ffd fs196 fc1 sc0 ls21">:</div><div class="t m196 xb0 h19c y1bb ffd fs197 fc1 sc0 ls21">=</div><div class="t m197 xb1 h19d y1bc ffd fs198 fc1 sc0 lse2">4-1</div><div class="t m198 x9a h19e y1bd ffd fs199 fc1 sc0 ls21">.</div><div class="t m199 x90 h19f y1be ff2a fs19a fc1 sc0 lse3">en</div><div class="t m19a x55 h1a0 y1bf ffd fs19b fc1 sc0 ls21">=</div><div class="t m19b x76 h1a1 y1c0 ff13 fs19c fc1 sc0 lsdd ws76">TITÍ</div><div class="t m19c xb2 h1a2 y1c1 ffd fs19d fc1 sc0 ls21">O</div><div class="t m19d x2a h1a3 y1c2 ffd fs19e fc1 sc0 ls21">t</div><div class="t m19e x41 h1a4 y1c3 ffd fs19f fc1 sc0 lse4">-1</div><div class="t m19f x7d h1a5 y1c4 ff10 fs1a0 fc1 sc0 ls21">\u2192</div><div class="t m1a0 xb3 h1a6 y1c5 ffd fs1a1 fc1 sc0 ls21">:</div><div class="t m1a1 x39 h1a7 y1c6 ffd fs1a2 fc1 sc0 ls21">t</div><div class="t m1a2 xb4 h1a8 y1c7 ffd fs1a3 fc1 sc0 ls21">=</div><div class="t m1a3 xb5 h1a9 y1c8 ffd fs1a4 fc1 sc0 ls21">0</div><div class="t m1a4 x6c h1aa y1c9 ffd fs1a5 fc1 sc0 ls21">.</div><div class="t m1a5 x18 h1ab y1ca ffd fs1a6 fc1 sc0 lse5">2.</div><div class="t m1a6 x88 h1ac y1cb ffd fs1a7 fc1 sc0 ls21">l</div><div class="t m1a7 x8c h1ad y1cc ffd fs1a8 fc1 sc0 ls21">'</div><div class="t m1a8 xa3 h1ae y1cd ffd fs1a9 fc1 sc0 ls21">=</div><div class="t m1a9 x1f h1af y1ce ffd fs1aa fc1 sc0 lse6">ir</div><div class="t m1aa x15 h1b0 y1cf ffd fs1ab fc1 sc0 ls21">t</div><div class="t m1ab xe h1b1 y1d0 ffd fs1ac fc1 sc0 lse7">IT</div><div class="t m1ac xb6 h1b2 y1d1 ffd fs1ad fc1 sc0 ls21">'</div><div class="t m1ad xb7 h1b3 y1d2 ffd fs1ae fc1 sc0 ls21">t</div><div class="t m1ae x3d h1b4 y1d3 ff2b fs1af fc1 sc0 ls21">p</div><div class="t m1af x61 h1b5 y1d4 ffd fs1b0 fc1 sc0 ls21">E</div><div class="t m1b0 x1d h1b6 y1d5 ffd fs1b1 fc1 sc0 ls21">i</div><div class="t m1b1 x6f h1b7 y1d6 ffd fs1b2 fc1 sc0 ls21">=</div><div class="t m1b2 x8e h1b8 y1d7 ffd fs1b3 fc1 sc0 lse8">itt</div><div class="t m1b3 xa9 h1b9 y1d8 ffd fs1b4 fc1 sc0 ls21">E</div><div class="t m1b4 x5b h1ba y1d9 ffd fs1b5 fc1 sc0 ls21">t</div><div class="t m1b5 x24 h1bb y1da ffd fs1b6 fc1 sc0 ls21">P</div><div class="t m1b6 xb8 h1bc y1db ffd fs1b7 fc1 sc0 ls21">E</div><div class="t m1b7 x18 h1bd y1dc ff13 fs1b8 fc1 sc0 ls21">{</div><div class="t m1b8 x1e h1be y1dd ff29 fs1b9 fc1 sc0 ls21">\u21d0</div><div class="t m1b9 xc h1bf y1de ffd fs1ba fc1 sc0 ls21">o</div><div class="t m1ba xb9 h1c0 y1df ffd fs1bb fc1 sc0 ls21">-</div><div class="t m1bb xa2 h1c1 y1e0 ffd fs1bc fc1 sc0 lsde ws77">tal</div><div class="t m1bc x43 h1c2 y1e1 ffd fs1bd fc1 sc0 ls21">:</div><div class="t m1bd x73 h1c3 y1e2 ffd fs1be fc1 sc0 ls21">i</div><div class="t m1be x11 h1c4 y1e3 ffd fs1bf fc1 sc0 ls21">=</div><div class="t m1bf x3 h1c5 y1e4 ffd fs1c0 fc1 sc0 lse9">itt</div><div class="t m1c0 xba h1c6 y1e5 ffd fs1c1 fc1 sc0 lsea">4-1</div><div class="t m1c1 x34 h1c7 y1e6 ffd fs1c2 fc1 sc0 ls21">.</div><div class="t m1c2 x99 h1c8 y1e7 ffd fs1c3 fc1 sc0 ls21">t</div><div class="t m1c3 xbb h1c9 y1e8 ffd fs1c4 fc1 sc0 ls21">p</div><div class="t m1c4 x5f h1ca y1e9 ff2c fs1c5 fc1 sc0 ls21">}</div><div class="t m1c5 xa7 h1cb y1ea ffd fs1c6 fc1 sc0 lseb ws78">Ta<span class="blank"> </span>s<span class="blank"> </span>a</div><div class="t m1c6 xbc h1cc y1eb ffd fs1c7 fc1 sc0 lsec">de</div><div class="t m1c7 x38 h1cd y1ec ffd fs1c8 fc1 sc0 lsed ws79">interés</div><div class="t m1c8 x6f h1ce y1ed ffd fs1c9 fc1 sc0 lsee">E-</div><div class="t m1c9 x8e h1cf y1ee ffd fs1ca fc1 sc0 ls21">e</div><div class="t m1ca xb9 h1d0 y1ef ff10 fs1cb fc1 sc0 ls21">\u2192</div><div class="t m1cb xbd h1d1 y1f0 ffd fs1cc fc1 sc0 ls21">:</div><div class="t m1cc x63 h1d2 y1f1 ffd fs1cd fc1 sc0 ls21">i</div><div class="t m1cd x21 h1d3 y1f2 ffd fs1ce fc1 sc0 ls21">=</div><div class="t m1ce x44 h1d4 y1f3 ffd fs1cf fc1 sc0 lsef">ir</div><div class="t m1cf x25 h1d5 y1f4 ffd fs1d0 fc1 sc0 lsf0">xp</div><div class="t m1d0 x91 h1d6 y1f5 ff10 fs1d1 fc1 sc0 ls21">¥</div><div class="t m1d1 x95 h1d7 y1f6 ffd fs1d2 fc1 sc0 lsf1">en</div><div class="t m1d2 x38 h1d8 y1f7 ffd fs1d3 fc1 sc0 lsf2">El</div><div class="t m1d3 x8a h1d9 y1f8 ffd fs1d4 fc1 sc0 ls21">(</div><div class="t m1d4 x0 h1da y1f9 ffd fs1d5 fc1 sc0 lsf3">en</div><div class="t m1d5 xbe h1db y1fa ffd fs1d6 fc1 sc0 lsf4">41</div><div class="t m1d6 xb0 h1dc y1fb ffd fs1d7 fc1 sc0 ls21">.</div><div class="t m1d7 x97 h1dd y1fc ffd fs1d8 fc1 sc0 ls21">)</div><div class="t m1d8 x18 h1de y1fd ffd fs1d9 fc1 sc0 ls21">A</div><div class="t m1d9 x27 h1df y1fe ffd fs1da fc1 sc0 lsf5">ir</div><div class="t m1da x99 h1e0 y1ff ffd fs1db fc1 sc0 ls21">=</div><div class="t m1db x9e h1e1 y200 ffd fs1dc fc1 sc0 lsf6">it</div><div class="t m1dc x8b h1e2 y201 ffd fs1dd fc1 sc0 ls21">t</div><div class="t m1dd x29 h1e3 y202 ffd fs1de fc1 sc0 lsf7 ws7a">4.1</div><div class="t m1de x5f h1e4 y203 ffd fs1df fc1 sc0 ls21">.</div><div class="t m1df x41 h1e5 y204 ffd fs1e0 fc1 sc0 lsf8">tp</div><div class="t m1e0 x47 h1e6 y205 ffd fs1e1 fc1 sc0 ls21">.</div><div class="t m1e1 x62 h1e7 y206 ffd fs1e2 fc1 sc0 lsf9">io</div><div class="t m1e2 x99 h1e8 y207 ffd fs1e3 fc1 sc0 ls21">=</div><div class="t m1e3 x9e h1e9 y208 ffd fs1e4 fc1 sc0 ls21">i</div><div class="t m1e4 x45 h1ea y209 ffd fs1e5 fc1 sc0 ls21">'</div><div class="t m1e5 x4f h1eb y20a ffd fs1e6 fc1 sc0 lsfa">tp</div><div class="t m1e6 x1b h1ec y20b ffd fs1e7 fc1 sc0 ls21">V</div><div class="t m1e7 x4b h1ed y20c ffd fs1e8 fc1 sc0 lsfb">3.</div><div class="t m1e8 x88 h1ee y20d ffd fs1e9 fc1 sc0 ls21">Y</div><div class="t m1e9 x1e h1ef y20e ffd fs1ea fc1 sc0 lsfc">en</div><div class="t m1ea x8e h1f0 y20f ffd fs1eb fc1 sc0 ls21">i</div><div class="t m1eb xd h1f1 y210 ffd fs1ec fc1 sc0 lsfd ws7b">afecta</div><div class="t m1ec x7 h1f2 y211 ffd fs1ed fc1 sc0 ls21">L</div><div class="t m1ed x63 h1f3 y212 ffd fs1ee fc1 sc0 ls21">:</div><div class="t m1ee x90 h1f4 y213 ffd fs1ef fc1 sc0 ls21">"</div><div class="t m1ef x6f h1f5 y214 ff2d fs1f0 fc1 sc0 ls21">¡</div><div class="t m1f0 x16 h1f6 y215 ff2e fs1f1 fc1 sc0 lsfe">4)</div><div class="t m1f1 x3c h1f7 y216 ffd fs1f2 fc1 sc0 ls21">P</div><div class="t m1f2 x65 h1f8 y217 ffd fs1f3 fc1 sc0 ls21">}</div><div class="t m1f3 x7 h1f9 y218 ffd fs1f4 fc1 sc0 lsff ws7c">crea</div><div class="t m1f4 x24 h1fa y219 ffd fs1f5 fc1 sc0 ls100">dda</div><div class="t m1f5 x78 h1fb y21a ffd fs1f6 fc1 sc0 ls21">.</div><div class="t m1f6 x18 h1fc y21b ffd fs1f7 fc1 sc0 ls101">4.</div><div class="t m1f7 x88 h1fd y21c ffd fs1f8 fc1 sc0 ls102">Ppp</div><div class="t m1f8 xc h1fe y21d ffd fs1f9 fc1 sc0 ls21">:</div><div class="t m1f9 x1d h1ff y21e ffd fs1fa fc1 sc0 ls21">p</div><div class="t m1fa xb h200 y21f ffd fs1fb fc1 sc0 ls21">=</div><div class="t m1fb x16 h201 y220 ff2f fs1fc fc1 sc0 ls103">fe</div><div class="t m1fc xb9 h202 y221 ffd fs1fd fc1 sc0 ls21">.</div><div class="t m1fd xae h203 y222 ffd fs1fe fc1 sc0 ls21">É</div><div class="t m1fe xb8 h204 y223 ff10 fs1ff fc1 sc0 ls21">\u2192</div><div class="t m1ff x2e h205 y224 ffd fs200 fc1 sc0 ls104">Como</div><div class="t m200 x78 h206 y225 ffd fs201 fc1 sc0 ls105">TC</div><div class="t m201 xbf h207 y226 ffd fs202 fc1 sc0 ls106">es</div><div class="t m202 x79 h208 y227 ffd fs203 fc1 sc0 ls107">fijo</div><div class="t m203 x67 h209 y228 ffd fs204 fc1 sc0 ls21">,</div><div class="t m204 x36 h20a y229 ffd fs205 fc1 sc0 ls108">los</div><div class="t m205 x9c h20b y22a ffd fs206 fc1 sc0 ls109 ws7d">precios</div><div class="t m206 xac h20c y22b ffd fs207 fc1 sc0 ls10a">no</div><div class="t m207 x61 h20d y22c ffd fs208 fc1 sc0 ls10b">pueden</div><div class="t m208 xb0 h20e y22d ffd fs209 fc1 sc0 ls10c ws7e">ajustar</div><div class="t m209 xc0 h20f y22e ffd fs20a fc1 sc0 ls10d">5-</div><div class="t m20a xb h210 y22f ff30 fs20b fc1 sc0 ls21">f</div><div class="t m20b x19 h211 y230 ffd fs20c fc1 sc0 ls21">=</div><div class="t m20c xb9 h212 y231 ff31 fs20d fc1 sc0 ls10e">MI</div><div class="t m20d x12 h213 y232 ff32 fs20e fc1 sc0 ls21">}</div><div class="t m20e x2f h214 y233 ffd fs20f fc1 sc0 ls10f">va</div><div class="t m20f x26 h215 y234 ffd fs210 fc1 sc0 ls21">a</div><div class="t m210 x8 h216 y235 ffd fs211 fc1 sc0 ls110 ws7f">tener</div><div class="t m211 x4f h217 y236 ffd fs212 fc1 sc0 ls111">que</div><div class="t m212 xc1 h218 y237 ffd fs213 fc1 sc0 ls112 ws80">AT<span class="blank"> </span>M</div><div class="t m213 xbc h219 y238 ffd fs214 fc1 sc0 ls21">.</div><div class="t m214 x8e h21a y239 ffd fs215 fc1 sc0 ls21">Y</div><div class="t m215 x15 h21b y23a ff33 fs216 fc1 sc0 ls113 ws81">Lli</div><div class="t m216 x6 h21c y23b ffd fs217 fc1 sc0 ls21">,</div><div class="t m217 x65 h21d y23c ffd fs218 fc1 sc0 ls21">y</div><div class="t m218 xb8 h21e y23d ffd fs219 fc1 sc0 ls21">)</div><div class="t m219 x13 h21f y23e ffd fs21a fc1 sc0 ls21">(</div><div class="t m21a x2f h220 y23f ffd fs21b fc1 sc0 ls114">no</div><div class="t m21b x3f h221 y240 ffd fs21c fc1 sc0 ls115">la</div><div class="t m21c x23 h222 y241 ffd fs21d fc1 sc0 ls116 ws82">tasa</div><div class="t m21d xc2 h223 y242 ffd fs21e fc1 sc0 ls117">de</div><div class="t m21e xc1 h224 y243 ffd fs21f fc1 sc0 ls118">do</div><div class="t m21f x9c h225 y244 ffd fs220 fc1 sc0 ls21">,</div><div class="t m220 x57 h226 y245 ffd fs221 fc1 sc0 ls119 ws83">solo</div><div class="t m221 xc3 h227 y246 ffd fs222 fc1 sc0 ls11a">la</div><div class="t m222 x80 h228 y247 ffd fs223 fc1 sc0 ls11b ws84">oferta</div><div class="t m223 xc4 h229 y248 ffd fs224 fc1 sc0 ls21">)</div><div class="t m224 xc5 h22a y249 ffd fs225 fc1 sc0 ls21">.</div><div class="t m225 x18 h22b y24a ff10 fs226 fc1 sc0 ls21">\u2192</div><div class="t m226 xb h22c y24b ffd fs227 fc1 sc0 ls11c">El</div><div class="t m227 x16 h22d y24c ffd fs228 fc1 sc0 ls21">_</div><div class="t m228 x8e h22e y24d ffd fs229 fc1 sc0 ls21">E</div><div class="t m229 x88 h22f y24e ff34 fs22a fc1 sc0 ls11d">E-</div><div class="t m22a xe h230 y24f ffd fs22b fc1 sc0 ls21">=</div><div class="t m22b xa h231 y250 ffd fs22c fc1 sc0 ls11e">Te</div><div class="t m22c x63 h232 y251 ffd fs22d fc1 sc0 ls21">_</div><div class="t m22d x2e h233 y252 ff35 fs22e fc1 sc0 ls11f ws85">TIT<span class="blank _3"></span>O</div><div class="t m22e x43 h234 y253 ff1a fs22f fc1 sc0 ls21">\u21b3</div><div class="t m22f x73 h235 y254 ffd fs230 fc1 sc0 ls120">es</div><div class="t m230 x5c h236 y255 ffd fs231 fc1 sc0 ls21">o</div><div class="t m231 x25 h237 y256 ffd fs232 fc1 sc0 ls121">pq</div><div class="t m232 x40 h238 y257 ffd fs233 fc1 sc0 ls21">T</div><div class="t m233 x61 h239 y258 ffd fs234 fc1 sc0 ls122">login</div><div class="t m234 xc5 h23a y259 ffd fs235 fc1 sc0 ls21">)</div><div class="t m235 x39 h23b y25a ffd fs236 fc1 sc0 ls21">A</div><div class="t m236 xc6 h23c y25b ffd fs237 fc1 sc0 ls123">0%</div><div class="t m237 x9 h23d y25c ff1a fs238 fc1 sc0 ls21">\u21b3</div><div class="t m238 x8d h23e y25d ff12 fs239 fc1 sc0 ls21">¥</div><div class="t m239 x3c h23f y25e ffd fs23a fc1 sc0 ls21">.</div><div class="t m23a xbd h240 y25f ff13 fs23b fc1 sc0 ls21">#</div><div class="t m23b x12 h241 y260 ff12 fs23c fc1 sc0 ls21">¥</div><div class="t m23c x5e h242 y261 ff36 fs23d fc1 sc0 ls21">1</div><div class="t m23d x7c h243 y262 ffd fs23e fc1 sc0 ls21">"</div><div class="t m23e xc7 h244 y263 ff37 fs23f fc1 sc0 ls21">"</div><div class="t m23f xc8 h245 y264 ffd fs240 fc1 sc0 ls21">"</div><div class="t m240 xb5 h246 y265 ffd fs241 fc1 sc0 ls21">.</div><div class="t m241 xc9 h247 y266 ffd fs242 fc1 sc0 ls21">i</div><div class="t m242 x18 h248 y267 ffd fs243 fc1 sc0 ls21">i</div><div class="t m243 x1a h249 y268 ffd fs244 fc1 sc0 ls21">.</div><div class="t m244 xb h24a y269 ffd fs245 fc1 sc0 ls124">se</div><div class="t m245 xc h24b y26a ffd fs246 fc1 sc0 ls125 ws86">ajusta</div><div class="t m246 xb6 h24c y26b ffd fs247 fc1 sc0 ls126">el</div><div class="t m247 x7 h24d y26c ffd fs248 fc1 sc0 ls127 ws87">dinero</div><div class="t m248 xca h24e y26d ffd fs249 fc1 sc0 ls128">les</div><div class="t m249 xcb h24f y26e ffd fs24a fc1 sc0 ls129 ws88">endógeno</div><div class="t m24a x4f h250 y26f ff38 fs24b fc1 sc0 ls21">)</div><div class="t m24b xcc h251 y270 ffd fs24c fc1 sc0 ls21">,</div><div class="t m24c x50 h252 y271 ffd fs24d fc1 sc0 ls12a">no</div><div class="t m24d x3b h253 y272 ffd fs24e fc1 sc0 ls12b">4%</div><div class="t m24e xb5 h254 y273 ffd fs24f fc1 sc0 ls21">'</div><div class="t m24f xc9 h255 y274 ffd fs250 fc1 sc0 ls21">l</div><div class="t m250 x6e h256 y275 ffd fs251 fc1 sc0 ls12c">los</div><div class="t m251 xc h257 y276 ffd fs252 fc1 sc0 ls12d ws89">precios</div><div class="t m252 x2c h258 y277 ffd fs253 fc1 sc0 ls21">.</div><div class="t m253 xb5 h259 y278 ffd fs254 fc1 sc0 ls21">"</div><div class="t m254 xc9 h25a y279 ffd fs255 fc1 sc0 ls21">,</div><div class="t m255 xcd h25b y27a ffd fs256 fc1 sc0 ls21">o</div><div class="t m256 x82 h25c y27b ffd fs257 fc1 sc0 ls12e">to</div><div class="t m257 xa0 h25d y27c ffd fs258 fc1 sc0 ls21">t</div><div class="t m258 xce h25e y27d ffd fs259 fc1 sc0 ls12f">=p</div><div class="t m259 xcf h25f y27e ffd fs25a fc1 sc0 ls21">t</div></div><div class="pi" data-data="{"ctm":[1.000000,0.000000,0.000000,1.000000,0.000000,0.000000]}"></div></div> <div id="pf7" class="pf w2 h8" data-page-no="7"><div class="pc pc7 w2 h8"><img fetchpriority="low" loading="lazy" class="bi x1 y1 w3 h9" alt="" src="https://files.passeidireto.com/a3ff96f9-82f5-4726-9f6f-504475f6a2a1/bg7.png"><div class="t m25a x4b h260 y27f ffd fs25b fc1 sc0 ls21">\u2022</div><div class="t m25b x1a h261 y280 ffd fs25c fc1 sc0 ls130">Bc</div><div class="t m25c x8d h262 y281 ffd fs25d fc1 sc0 ls131">no</div><div class="t m25d x14 h263 y282 ffd fs25e fc1 sc0 ls21 ws8a">puede</div><div class="t m25e xb8 h264 y283 ffd fs25f fc1 sc0 ls132 ws8b">alterar</div><div class="t m25f x44 h265 y284 ffd fs260 fc1 sc0 ls133">la</div><div class="t m260 x25 h266 y285 ffd fs261 fc1 sc0 ls134 ws8c">base</div><div class="t m261 x9e h267 y286 ffd fs262 fc1 sc0 ls135">monetaria</div><div class="t m262 x57 h268 y287 ffd fs263 fc1 sc0 ls136 ws8d">para</div><div class="t m263 x69 h269 y288 ffd fs264 fc1 sc0 ls137 ws8e">hacer</div><div class="t m264 x53 h26a y289 ffd fs265 fc1 sc0 ls138 ws8f">ajustes</div><div class="t m265 xd0 h26b y28a ff10 fs266 fc1 sc0 ls21">\u2192</div><div class="t m266 xd1 h26c y28b ffd fs267 fc1 sc0 ls21">M</div><div class="t m267 xd2 h26d y28c ffd fs268 fc1 sc0 ls139">se</div><div class="t m268 xc6 h26e y28d ffd fs269 fc1 sc0 ls13a ws90">mueve</div><div class="t m269 x4b h26f y28e ffd fs26a fc1 sc0 ls13b ws91">por</div><div class="t m26a xa8 h270 y28f ffd fs26b fc1 sc0 ls21">A</div><div class="t m26b x14 h271 y290 ffd fs26c fc1 sc0 ls13c">en</div><div class="t m26c x6 h272 y291 ffd fs26d fc1 sc0 ls13d">las</div><div class="t m26d x7 h273 y292 ffd fs26e fc1 sc0 ls13e ws92">var<span class="blank"> </span>i<span class="blank"> </span>a<span class="blank"> </span>b<span class="blank"> </span>l<span class="blank"> </span>e<span class="blank"> </span>s</div><div class="t m26e xb2 h274 y293 ffd fs26f fc1 sc0 ls21">.</div><div class="t m26f x4b h275 y294 ffd fs270 fc1 sc0 ls21">a</div><div class="t m270 x1d h276 y295 ffd fs271 fc1 sc0 ls13f">MD</div><div class="t m271 x11 h277 y296 ffd fs272 fc1 sc0 ls21">/</div><div class="t m272 xca h278 y297 ffd fs273 fc1 sc0 ls140 ws93">0.1</div><div class="t m273 x81 h279 y298 ffd fs274 fc1 sc0 ls21">.</div><div class="t m274 x43 h27a y299 ffd fs275 fc1 sc0 ls141">4-1</div><div class="t m275 xd3 h27b y29a ffd fs276 fc1 sc0 ls21">.</div><div class="t m276 xbd h27c y29b ffd fs277 fc1 sc0 ls21">'</div><div class="t m277 xd4 h27d y29c ffd fs278 fc1 sc0 ls21">I</div><div class="t m278 x55 h27e y29d ffd fs279 fc1 sc0 ls21">'</div><div class="t m279 x21 h27f y29e ffd fs27a fc1 sc0 ls21">I</div><div class="t m27a xd h280 y29f ffd fs27b fc1 sc0 ls21">I</div><div class="t m27b x3c h281 y2a0 ff29 fs27c fc1 sc0 ls21">\u21d0</div><div class="t m27c xbd h282 y2a1 ffd fs27d fc1 sc0 ls21">o</div><div class="t m27d xd3 h283 y2a2 ffd fs27e fc1 sc0 ls21">t</div><div class="t m27e x21 h284 y2a3 ffd fs27f fc1 sc0 ls142">-1</div><div class="t m27f x2f h285 y2a4 ffd fs280 fc1 sc0 ls21">t</div><div class="t m280 xc0 h286 y2a5 ff10 fs281 fc1 sc0 ls21">\u2192</div><div class="t m281 x59 h287 y2a6 ff10 fs282 fc1 sc0 ls21">¿</div><div class="t m282 xa8 h288 y2a7 ffd fs283 fc1 sc0 ls143">Qué</div><div class="t m283 xa2 h289 y2a8 ffd fs284 fc1 sc0 ls144 ws94">pasa</div><div class="t m284 x2d h28a y2a9 ffd fs285 fc1 sc0 ls145">con</div><div class="t m285 x3 h28b y2aa ffd fs286 fc1 sc0 ls21">R</div><div class="t m286 x25 h28c y2ab ffd fs287 fc1 sc0 ls21">y</div><div class="t m287 x31 h28d y2ac ffd fs288 fc1 sc0 ls21">M</div><div class="t m288 x34 h28e y2ad ff39 fs289 fc1 sc0 ls21">?</div><div class="t m289 x87 h28f y2ae ffd fs28a fc1 sc0 ls146">E-</div><div class="t m28a x59 h290 y2af ffd fs28b fc1 sc0 ls21">O</div><div class="t m28b x1f h291 y2b0 ffd fs28c fc1 sc0 ls21">/</div><div class="t m28c x17 h292 y2b1 ffd fs28d fc1 sc0 ls21">t</div><div class="t m28d x15 h293 y2b2 ffd fs28e fc1 sc0 ls147">-1</div><div class="t m28e x87 h294 y2b3 ff13 fs28f fc1 sc0 ls21">÷</div><div class="t m28f xc0 h295 y2b4 ff13 fs290 fc1 sc0 ls148 ws95">:ü÷f<span class="blank _f"></span>÷</div><div class="t m290 x89 h296 y2b5 ffd fs291 fc1 sc0 ls149">BP</div><div class="t m291 x57 h297 y2b6 ffd fs292 fc1 sc0 ls21">\u2022</div><div class="t m292 x95 h298 y2b7 ffd fs293 fc1 sc0 ls21 ws96">IOGM</div><div class="t m293 x9 h299 y2b8 ffd fs294 fc1 sc0 ls21">M</div><div class="t m294 x88 h29a y2b9 ffd fs295 fc1 sc0 ls21">=</div><div class="t m295 xa8 h29b y2ba ffd fs296 fc1 sc0 ls21">p</div><div class="t m296 x8e h29c y2bb ffd fs297 fc1 sc0 ls21">.</div><div class="t m297 x71 h29d y2bc ffd fs298 fc1 sc0 ls21">Y</div><div class="t m298 xae h29e y2bd ffd fs299 fc1 sc0 ls21">.</div><div class="t m299 x8f h29f y2be ffd fs29a fc1 sc0 ls21">O</div><div class="t m29a x20 h2a0 y2bf ffd fs29b fc1 sc0 ls21">,</div><div class="t m29b xf h2a1 y2c0 ffd fs29c fc1 sc0 ls21">5</div><div class="t m29c x4b h2a2 y2c1 ffd fs29d fc1 sc0 ls14a">AM</div><div class="t m29d x6f h2a3 y2c2 ffd fs29e fc1 sc0 ls21">-</div><div class="t m29e x71 h2a4 y2c3 ff3a fs29f fc1 sc0 ls14b ws97">0,0<span class="blank"> </span>4<span class="blank"> </span>M</div><div class="t m29f x41 h2a5 y2c4 ffd fs2a0 fc1 sc0 ls14c ws98">9524ps</div><div class="t m2a0 xd0 h2a6 y2c5 ffd fs2a1 fc1 sc0 ls14d">01</div><div class="t m2a1 xd1 h2a7 y2c6 ffd fs2a2 fc1 sc0 ls21">.</div><div class="t m2a2 xd5 h2a8 y2c7 ffd fs2a3 fc1 sc0 ls14e">AM</div><div class="t m2a3 x16 h2a9 y2c8 ffd fs2a4 fc1 sc0 ls21">=</div><div class="t m2a4 x4c h2aa y2c9 ffd fs2a5 fc1 sc0 ls14f ws99">0,0<span class="blank"> </span>4</div><div class="t m2a5 xb6 h2ab y2ca ffd fs2a6 fc1 sc0 ls21">.</div><div class="t m2a6 xb7 h2ac y2cb ffd fs2a7 fc1 sc0 ls21">p</div><div class="t m2a7 x2d h2ad y2cc ffd fs2a8 fc1 sc0 ls21">.</div><div class="t m2a8 x63 h2ae y2cd ffd fs2a9 fc1 sc0 ls21">y</div><div class="t m2a9 x2e h2af y2ce ffd fs2aa fc1 sc0 ls21">.</div><div class="t m2aa x12 h2b0 y2cf ffd fs2ab fc1 sc0 ls150 ws9a">0,5</div><div class="t m2ab x50 h2b1 y2d0 ffd fs2ac fc1 sc0 ls151">45</div><div class="t m2ac x2b h2b2 y2d1 ffd fs2ad fc1 sc0 ls152">YP</div><div class="t m2ad xaa h2b3 y2d2 ffd fs2ae fc1 sc0 ls21">-</div><div class="t m2ae xc5 h2b4 y2d3 ffd fs2af fc1 sc0 ls21">,</div><div class="t m2af x93 h2b5 y2d4 ffd fs2b0 fc1 sc0 ls21">|</div><div class="t m2b0 x6a h2b6 y2d5 ffd fs2b1 fc1 sc0 ls153">4.</div><div class="t m2b1 x3a h2b7 y2d6 ffd fs2b2 fc1 sc0 ls21">/</div><div class="t m2b2 xd6 h2b8 y2d7 ffd fs2b3 fc1 sc0 ls21">.</div><div class="t m2b3 xc5 h2b9 y2d8 ffd fs2b4 fc1 sc0 ls21">1</div><div class="t m2b4 x6e h2ba y2d9 ffd fs2b5 fc1 sc0 ls154">AM</div><div class="t m2b5 x19 h2bb y2da ffd fs2b6 fc1 sc0 ls21">=</div><div class="t m2b6 x71 h2bc y2db ff3b fs2b7 fc1 sc0 ls155 ws9b">0,0<span class="blank"> </span>2</div><div class="t m2b7 x20 h2bd y2dc ffd fs2b8 fc1 sc0 ls21">-</div><div class="t m2b8 xb8 h2be y2dd ffd fs2b9 fc1 sc0 ls21">p</div><div class="t m2b9 x3d h2ab y2de ffd fs2a6 fc1 sc0 ls21">-</div><div class="t m2ba x2d h2bf y2df ff3c fs2ba fc1 sc0 ls21">y</div><div class="t m2bb x21 h2c0 y2e0 ffd fs2bb fc1 sc0 ls21">.</div><div class="t m2bc x93 h2c1 y2e1 ffd fs2bc fc1 sc0 ls21">i</div><div class="t m2bd xbe h2c2 y2e2 ffd fs2bd fc1 sc0 ls21">I</div><div class="t m2be xc0 h2c3 y2e3 ff1a fs2be fc1 sc0 ls21">\u21b3</div><div class="t m2bf x59 h2c4 y2e4 ffd fs2bf fc1 sc0 ls156 ws9c">luego</div><div class="t m2c0 x14 h2c5 y2e5 ffd fs2c0 fc1 sc0 ls21">:</div><div class="t m2c1 xa9 h2c6 y2e6 ffd fs2c1 fc1 sc0 ls157">Mt</div><div class="t m2c2 x3e h2c7 y2e7 ffd fs2c2 fc1 sc0 ls158">Am</div><div class="t m2c3 xb2 h2c8 y2e8 ffd fs2c3 fc1 sc0 ls21">=</div><div class="t m2c4 x78 h2c9 y2e9 ffd fs2c4 fc1 sc0 ls159 ws9d">0,5<span class="blank"> </span>2</div><div class="t m2c5 x23 h2ca y2ea ff3d fs2c5 fc1 sc0 ls15a">yp</div><div class="t m2c6 x93 h2cb y2eb ffd fs2c6 fc1 sc0 ls21">'</div><div class="t m2c7 xbe h2cc y2ec ffd fs2c7 fc1 sc0 ls21">'</div><div class="t m2c8 xd7 h2cd y2ed ffd fs2c8 fc1 sc0 ls21">o</div><div class="t m2c9 x69 h2ce y2ee ffd fs2c9 fc1 sc0 ls15b">E-</div><div class="t m2ca x39 h2cf y2ef ffd fs2ca fc1 sc0 ls21">o</div><div class="t m2cb x3b h2d0 y2f0 ff29 fs2cb fc1 sc0 ls21">\u21d0</div><div class="t m2cc x98 h2d1 y2f1 ffd fs2cc fc1 sc0 ls21">t</div><div class="t m2cd xc0 h2d2 y2f2 ff1a fs2cd fc1 sc0 ls21">\u21b3</div><div class="t m2ce x8c h2d3 y2f3 ffd fs2ce fc1 sc0 ls15c ws9e">salto</div><div class="t m2cf xd h2d4 y2f4 ffd fs2cf fc1 sc0 ls15d">de</div><div class="t m2d0 x65 h2d5 y2f5 ffd fs2d0 fc1 sc0 ls15e ws9f">nivel</div><div class="t m2d1 x5b h2d6 y2f6 ffd fs2d1 fc1 sc0 ls15f">de</div><div class="t m2d2 x94 h2d7 y2f7 ffd fs2d2 fc1 sc0 ls21">M</div><div class="t m2d3 x62 h2d8 y2f8 ffd fs2d3 fc1 sc0 ls160">es</div><div class="t m2d4 x45 h2d9 y2f9 ffd fs2d4 fc1 sc0 ls161">21</div><div class="t m2d5 x64 h2da y2fa ffd fs2d5 fc1 sc0 ls21">.</div><div class="t m2d6 x41 h2db y2fb ff10 fs2d6 fc1 sc0 ls21">\u2192</div><div class="t m2d7 x52 h2dc y2fc ffd fs2d7 fc1 sc0 ls21">R</div><div class="t m2d8 x48 h2dd y2fd ffd fs2d8 fc1 sc0 ls162 wsa0">también</div><div class="t m2d9 xbe h2de y2fe ff3e fs2d9 fc1 sc0 ls163 wsa1">tendr<span class="blank _5"> </span>án</div><div class="t m2da x6d h2df y2ff ffd fs2da fc1 sc0 ls164">que</div><div class="t m2db xd7 h2e0 y300 ffd fs2db fc1 sc0 ls165 wsa2">mov<span class="blank _3"></span>erse</div><div class="t m2dc x9 h2e1 y301 ffd fs2dc fc1 sc0 ls166">en</div><div class="t m2dd x19 h2e2 y302 ff3f fs2dd fc1 sc0 ls167">21</div><div class="t m2de xb9 h2e3 y303 ffd fs2de fc1 sc0 ls21">.</div><div class="t m2df x46 h2e4 y304 ffd fs2df fc1 sc0 ls21">R</div><div class="t m2e0 x37 h2e5 y305 ffd fs2e0 fc1 sc0 ls21">A</div><div class="t m2e1 x4b h2e6 y306 ffd fs2e1 fc1 sc0 ls21">R</div><div class="t m2e2 x1d h2e7 y307 ffd fs2e2 fc1 sc0 ls21">-</div><div class="t m2e3 x6f h2e8 y308 ffd fs2e3 fc1 sc0 ls21">y</div><div class="t m2e4 x16 h2e9 y309 ffd fs2e4 fc1 sc0 ls21">.</div><div class="t m2e5 x7b h2ea y30a ffd fs2e5 fc1 sc0 ls168 wsa3">0,1</div><div class="t m2e6 xc2 h2eb y30b ffd fs2e6 fc1 sc0 ls169 wsa4">0,1<span class="blank"> </span>2</div><div class="t m2e7 xa7 h2ec y30c ffd fs2e7 fc1 sc0 ls16a">yp</div><div class="t m2e8 xbe h2ed y30d ff40 fs2e8 fc1 sc0 ls21">T</div><div class="t m2e9 xd8 h2ee y30e ff41 fs2e9 fc1 sc0 ls21">\u2192</div><div class="t m2ea x50 h2ef y30f ff42 fs2ea fc1 sc0 ls16b">qlyp</div><div class="t m2eb xc3 h2f0 y310 ffd fs2eb fc1 sc0 ls16c">E-</div><div class="t m2ec x39 h2f1 y311 ffd fs2ec fc1 sc0 ls21">O</div><div class="t m2ed x82 h2f2 y312 ffd fs2ed fc1 sc0 ls16d">E-</div><div class="t m2ee xb1 h2f3 y313 ffd fs2ee fc1 sc0 ls21">p</div><div class="t m2ef xd9 h2f4 y314 ffd fs2ef fc1 sc0 ls21">'</div><div class="t m2f0 xa1 h2f5 y315 ffd fs2f0 fc1 sc0 ls21">t</div></div><div class="pi" data-data="{"ctm":[1.000000,0.000000,0.000000,1.000000,0.000000,0.000000]}"></div></div> <div id="pf8" class="pf w2 h8" data-page-no="8"><div class="pc pc8 w2 h8"><img fetchpriority="low" loading="lazy" class="bi x1 y1 w3 h9" alt="" src="https://files.passeidireto.com/a3ff96f9-82f5-4726-9f6f-504475f6a2a1/bg8.png"><div class="t m2f1 x18 h2f6 y316 ff13 fs2f1 fc1 sc0 ls171"><span class="fc1 sc0">1.</span></div><div class="t m2f2 xd5 h2f7 y317 ff43 fs2f2 fc1 sc0 ls172 wsa5"><span class="fc1 sc0">FE</span><span class="fc1 sc0">O</span></div><div class="t m2f3 x44 h2f8 y318 ffd fs2f3 fc1 sc0 ls21"><span class="fc1 sc0">.</span></div><div class="t m2f4 x75 h2f9 y319 ff44 fs2f4 fc1 sc0 ls173 wsa6"><span class="fc1 sc0">Ay</span><span class="blank"> </span><span class="fc1 sc0">l</span><span class="blank"> </span><span class="fc1 sc0">y</span></div><div class="t m2f5 x62 h2fa y31a ffd fs2f5 fc1 sc0 ls21"><span class="fc1 sc0">=</span></div><div class="t m2f6 x40 h2fb y31b ffd fs2f6 fc1 sc0 ls174"><span class="fc1 sc0">51</span></div><div class="t m2f7 xbb h2fc y31c ffd fs2f7 fc1 sc0 ls21"><span class="fc1 sc0">.</span></div><div class="t m2f8 x9 h2fd y31d ffd fs2f8 fc1 sc0 ls21"><span class="fc1 sc0">.</span></div><div class="t m2f9 x1d h2fe y31e ffd fs2f9 fc1 sc0 ls21"><span class="fc1 sc0">I</span></div><div class="t m2fa x6f h2ff y31f ffd fs2fa fc1 sc0 ls21"><span class="fc1 sc0">=</span></div><div class="t m2fb x8e h300 y320 ffd fs2fb fc1 sc0 ls21"><span class="fc1 sc0">O</span></div><div class="t m2fc x5c h301 y321 ffd fs2fc fc1 sc0 ls21"><span class="fc1 sc0">.</span></div><div class="t m2fd xb2 h302 y322 ffd fs2fd fc1 sc0 ls175"><span class="fc1 sc0">TC</span></div><div class="t m2fe x78 h303 y323 ffd fs2fe fc1 sc0 ls176"><span class="fc1 sc0">fijo</span></div><div class="t m2ff x89 h304 y324 ffd fs2ff fc1 sc0 ls21"><span class="fc1 sc0">:</span></div><div class="t m300 x32 h305 y325 ff45 fs300 fc1 sc0 ls21"><span class="fc1 sc0">E</span></div><div class="t m301 x91 h306 y326 ffd fs301 fc1 sc0 ls21"><span class="fc1 sc0">=</span></div><div class="t m302 x37 h307 y327 ffd fs302 fc1 sc0 ls21"><span class="fc1 sc0">O</span></div><div class="t m303 x4f h308 y328 ffd fs303 fc1 sc0 ls21"><span class="fc1 sc0">E</span></div><div class="t m304 x18 h309 y329 ff10 fs304 fc1 sc0 ls21"><span class="fc1 sc0">\u2192</span></div><div class="t m305 x59 h30a y32a ffd fs305 fc1 sc0 ls177 wsa7"><span class="fc1 sc0">Tr</span><span class="blank"> </span><span class="fc1 sc0">s</span><span class="blank"> </span><span class="fc1 sc0">h</span><span class="blank"> </span><span class="fc1 sc0">e</span><span class="blank"> </span><span class="fc1 sc0">r</span></div><div class="t m306 x4c h30b y32b ffd fs306 fc1 sc0 ls21"><span class="fc1 sc0">:</span></div><div class="t m307 x20 h30c y32c ffd fs307 fc1 sc0 ls21"><span class="fc1 sc0">i</span></div><div class="t m308 xa h30d y32d ffd fs308 fc1 sc0 ls21"><span class="fc1 sc0">=</span></div><div class="t m309 x56 h30e y32e ffd fs309 fc1 sc0 ls178"><span class="fc1 sc0">RP</span></div><div class="t m30a x12 h30f y32f ffd fs30a fc1 sc0 ls21"><span class="fc1 sc0">t</span></div><div class="t m30b x75 h310 y330 ffd fs30b fc1 sc0 ls21"><span class="fc1 sc0">p</span></div><div class="t m30c x22 h311 y331 ffd fs30c fc1 sc0 ls21"><span class="fc1 sc0">t</span></div><div class="t m30d x81 h312 y332 ffd fs30d fc1 sc0 ls179"><span class="fc1 sc0">IT</span></div><div class="t m30e x62 h313 y333 ffd fs30e fc1 sc0 ls21"><span class="fc1 sc0">'</span></div><div class="t m30f x68 h314 y334 ffd fs30f fc1 sc0 ls16e wsa8"><span class="fc1 sc0">com</span><span class="fc1 sc0">o</span></div><div class="t m310 x4a h315 y335 ffd fs310 fc1 sc0 ls21"><span class="fc1 sc0">E</span></div><div class="t m311 xb0 h316 y336 ffd fs311 fc1 sc0 ls21"><span class="fc1 sc0">=</span></div><div class="t m312 xda h317 y337 ffd fs312 fc1 sc0 ls21"><span class="fc1 sc0">O</span></div><div class="t m313 xa0 h318 y338 ffd fs313 fc1 sc0 ls21"><span class="fc1 sc0">=</span></div><div class="t m314 xdb h319 y339 ffd fs314 fc1 sc0 ls17a"><span class="fc1 sc0">Te</span></div><div class="t m315 xdc h31a y33a ffd fs315 fc1 sc0 ls21"><span class="fc1 sc0">_</span></div><div class="t m316 xdd h31b y33b ffd fs316 fc1 sc0 ls17b wsa9"><span class="fc1 sc0">Ti</span><span class="fc1 sc0">r</span><span class="fc1 sc0">e</span></div><div class="t m317 x20 h31c y33c ffd fs317 fc1 sc0 ls21"><span class="fc1 sc0">i</span></div><div class="t m318 x76 h31d y33d ffd fs318 fc1 sc0 ls21"><span class="fc1 sc0">=</span></div><div class="t m319 x2d h31e y33e ffd fs319 fc1 sc0 ls17c"><span class="fc1 sc0">it</span></div><div class="t m31a x2e h31f y33f ffd fs31a fc1 sc0 ls21"><span class="fc1 sc0">-</span></div><div class="t m31b x4e h320 y340 ffd fs31b fc1 sc0 ls17d wsaa"><span class="fc1 sc0">Ti</span><span class="fc1 sc0">e</span></div><div class="t m31c x30 h321 y341 ffd fs31c fc1 sc0 ls17e"><span class="fc1 sc0">zp</span></div><div class="t m31d x40 h322 y342 ffd fs31d fc1 sc0 ls21"><span class="fc1 sc0">t</span></div><div class="t m31e x9e h323 y343 ffd fs31e fc1 sc0 ls17f"><span class="fc1 sc0">IT</span></div><div class="t m31f x8b h324 y344 ffd fs31f fc1 sc0 ls21"><span class="fc1 sc0">l</span></div><div class="t m320 x0 h325 y345 ffd fs320 fc1 sc0 ls21"><span class="fc1 sc0">E</span></div><div class="t m321 x65 h326 y346 ff10 fs321 fc1 sc0 ls21"><span class="fc1 sc0">¡</span></div><div class="t m322 x43 h327 y347 ffd fs322 fc1 sc0 ls21"><span class="fc1 sc0">=</span></div><div class="t m323 x56 h328 y348 ffd fs323 fc1 sc0 ls180"><span class="fc1 sc0">ir</span></div><div class="t m324 x5b h329 y349 ff46 fs324 fc1 sc0 ls181"><span class="fc1 sc0">tp</span></div><div class="t m325 xc0 h32a y34a ff10 fs325 fc1 sc0 ls21"><span class="fc1 sc0">\u2192</span></div><div class="t m326 x88 h32b y34b ffd fs326 fc1 sc0 ls182"><span class="fc1 sc0">De</span></div><div class="t m327 x7b h32c y34c ffd fs327 fc1 sc0 ls21"><span class="fc1 sc0">M</span></div><div class="t m328 xb9 h32d y34d ffd fs328 fc1 sc0 ls21"><span class="fc1 sc0">-</span></div><div class="t m329 xa2 h2a6 y34e ffd fs2a1 fc1 sc0 ls183"><span class="fc1 sc0">KP</span></div><div class="t m32a xf h32e y34f ffd fs329 fc1 sc0 ls21"><span class="fc1 sc0">-</span></div><div class="t m32b xa h32f y350 ffd fs32a fc1 sc0 ls184"><span class="fc1 sc0">ye</span></div><div class="t m32c xd3 h330 y351 ffd fs32b fc1 sc0 ls21"><span class="fc1 sc0">-</span></div><div class="t m32d x73 h331 y352 ffd fs32c fc1 sc0 ls185"><span class="fc1 sc0">Bi</span></div><div class="t m32e x5d h332 y353 ffd fs32d fc1 sc0 ls186"><span class="fc1 sc0">Ip</span></div><div class="t m32f x1f h333 y354 ff13 fs32e fc1 sc0 ls21"><span class="fc1 sc0">§</span></div><div class="t m330 xa9 h334 y355 ffd fs32f fc1 sc0 ls21"><span class="fc1 sc0">K</span></div><div class="t m331 x76 h335 y356 ffd fs330 fc1 sc0 ls21"><span class="fc1 sc0">-</span></div><div class="t m332 xb8 h336 y357 ffd fs331 fc1 sc0 ls187"><span class="fc1 sc0">ye</span></div><div class="t m333 x3e h337 y358 ffd fs332 fc1 sc0 ls21"><span class="fc1 sc0">-</span></div><div class="t m334 x11 h338 y359 ffd fs333 fc1 sc0 ls188"><span class="fc1 sc0">Bi</span></div><div class="t m335 x3f h339 y35a ffd fs334 fc1 sc0 ls21"><span class="fc1 sc0">/</span></div><div class="t m336 xbf h33a y35b ff47 fs335 fc1 sc0 ls21"><span class="fc1 sc0">L</span></div><div class="t m337 xc h33b y35c ff48 fs336 fc1 sc0 ls189"><span class="fc1 sc0">MM</span></div><div class="t m338 xa2 h33c y35d ffd fs337 fc1 sc0 ls21"><span class="fc1 sc0">-</span></div><div class="t m339 xb6 h33d y35e ffd fs338 fc1 sc0 ls18a"><span class="fc1 sc0">HP</span></div><div class="t m33a x21 h33e y35f ffd fs339 fc1 sc0 ls21"><span class="fc1 sc0">=</span></div><div class="t m33b x4e h33f y360 ffd fs33a fc1 sc0 ls18b wsab"><span class="fc1 sc0">hl</span><span class="fc1 sc0">k</span></div><div class="t m33c x5d h340 y361 ffd fs33b fc1 sc0 ls21"><span class="fc1 sc0">)</span></div><div class="t m33d x31 h341 y362 ffd fs33c fc1 sc0 ls21"><span class="fc1 sc0">-</span></div><div class="t m33e x99 h342 y363 ffd fs33d fc1 sc0 ls18c"><span class="fc1 sc0">Bi</span></div><div class="t m33f x4f h343 y364 ffd fs33e fc1 sc0 ls21"><span class="fc1 sc0">t</span></div><div class="t m340 xaf h344 y365 ffd fs33f fc1 sc0 ls18d"><span class="fc1 sc0">In</span></div><div class="t m341 x47 h345 y366 ff13 fs340 fc1 sc0 ls18e"><span class="fc1 sc0">4)</span></div><div class="t m342 x93 h346 y367 ff49 fs341 fc1 sc0 ls18f"><span class="fc1 sc0">Id</span></div><div class="t m343 x19 h347 y368 ff4a fs342 fc1 sc0 ls21"><span class="fc1 sc0">a</span></div><div class="t m344 xb9 h348 y369 ffd fs343 fc1 sc0 ls21"><span class="fc1 sc0">-</span></div><div class="t m345 x5 h349 y36a ff12 fs344 fc1 sc0 ls21"><span class="fc1 sc0">¥</span></div><div class="t m346 xde h34a y36b ffd fs345 fc1 sc0 ls21"><span class="fc1 sc0">=</span></div><div class="t m347 x3 h34b y36c ff13 fs346 fc1 sc0 ls190"><span class="fc1 sc0">-1</span></div><div class="t m348 x6f h34c y36d ffd fs347 fc1 sc0 ls191"><span class="fc1 sc0">AM</span></div><div class="t m349 x2f h34d y36e ffd fs348 fc1 sc0 ls192"><span class="fc1 sc0">B.</span></div><div class="t m34a xba h34e y36f ffd fs349 fc1 sc0 ls193"><span class="fc1 sc0">Ai</span></div><div class="t m34b x75 h34f y370 ff4b fs34a fc1 sc0 ls16f wsac"><span class="fc1 sc0">Es</span><span class="fc1 sc0">i</span></div><div class="t m34c x5f h350 y371 ffd fs34b fc1 sc0 ls21"><span class="fc1 sc0">"</span></div><div class="t m34d x41 h351 y372 ff4c fs34c fc1 sc0 ls21"><span class="fc1 sc0">"</span></div><div class="t m34e x51 h352 y373 ffd fs34d fc1 sc0 ls21"><span class="fc1 sc0">Y</span></div><div class="t m34f x1e h353 y374 ffd fs34e fc1 sc0 ls194"><span class="fc1 sc0">AMIM</span></div><div class="t m350 x72 h354 y375 ffd fs34f fc1 sc0 ls21"><span class="fc1 sc0">-</span></div><div class="t m351 x2c h355 y376 ff4d fs350 fc1 sc0 ls195 wsad"><span class="fc1 sc0">AP</span><span class="fc1 sc0">IP</span></div><div class="t m352 xde h356 y377 ffd fs351 fc1 sc0 ls21"><span class="fc1 sc0">=</span></div><div class="t m353 x3 h357 y378 ffd fs352 fc1 sc0 ls196"><span class="fc1 sc0">51</span></div><div class="t m354 x25 h358 y379 ffd fs353 fc1 sc0 ls21"><span class="fc1 sc0">.</span></div><div class="t m355 x18 h359 y37a ff10 fs354 fc1 sc0 ls21"><span class="fc1 sc0">\u2192</span></div><div class="t m356 xdf h35a y37b ff13 fs355 fc1 sc0 ls197"><span class="fc1 sc0">÷÷±</span></div><div class="t m357 xbd h35b y37c ff13 fs356 fc1 sc0 ls21"><span class="fc1 sc0">:</span></div><div class="t m358 xb7 h35c y37d ff13 fs357 fc1 sc0 ls198"><span class="fc1 sc0">:*</span></div><div class="t m359 xb2 h35d y37e ff13 fs358 fc1 sc0 ls199"><span class="fc1 sc0">:*</span></div><div class="t m35a xe0 h35e y37f ffd fs359 fc1 sc0 ls21"><span class="fc1 sc0">.</span></div><div class="t m35b x68 h35f y380 ff13 fs35a fc1 sc0 ls21"><span class="fc1 sc0">/</span></div><div class="t m35c x92 h360 y381 ff13 fs35b fc1 sc0 ls21"><span class="fc1 sc0">:</span></div><div class="t m35d xe1 h361 y382 ffd fs35c fc1 sc0 ls21"><span class="fc1 sc0">"</span></div><div class="t m35e x23 h362 y383 ffd fs35d fc1 sc0 ls170 wsae"><span class="fc1 sc0">po</span><span class="fc1 sc0">r</span></div><div class="t m35f xc7 h363 y384 ffd fs35e fc1 sc0 ls19a"><span class="fc1 sc0">Mun</span></div><div class="t m360 xc8 h364 y385 ffd fs35f fc1 sc0 ls21"><span class="fc1 sc0">.</span></div><div class="t m361 x6e h365 y386 ff13 fs360 fc1 sc0 ls21"><span class="fc1 sc0">{</span></div><div class="t m362 x1f h366 y387 ff4e fs361 fc1 sc0 ls19b"><span class="fc1 sc0">Te</span></div><div class="t m363 xae h367 y388 ff29 fs362 fc1 sc0 ls21"><span class="fc1 sc0">\udb8b\udc1b</span></div></div><div class="pi" data-data="{"ctm":[1.000000,0.000000,0.000000,1.000000,0.000000,0.000000]}"></div></div> <div id="pf9" class="pf w2 h8" data-page-no="9"><div class="pc pc9 w2 h8"><img fetchpriority="low" loading="lazy" class="bi x1 y1 w3 h9" alt="" src="https://files.passeidireto.com/a3ff96f9-82f5-4726-9f6f-504475f6a2a1/bg9.png"><div class="t m364 x8c h368 y389 ffd fs363 fc1 sc0 ls21"><span class="fc1 sc0">B</span></div><div class="t m365 x6f h369 y38a ffd fs364 fc1 sc0 ls21"><span class="fc1 sc0">=</span></div><div class="t m366 xc h36a y38b ff4f fs365 fc1 sc0 ls19d wsaf"><span class="fc1 sc0">0,0</span><span class="blank"> </span><span class="fc1 sc0">5</span></div><div class="t m367 x1d h36b y38c ff10 fs366 fc1 sc0 ls21"><span class="fc1 sc0">¡</span></div><div class="t m368 xb h36c y38d ffd fs367 fc1 sc0 ls19e wsb0"><span class="fc1 sc0">ft</span><span class="fc1 sc0">p</span><span class="fc1 sc0">.</span><span class="fc1 sc0">t</span></div><div class="t m369 x15 h36d y38e ffd fs368 fc1 sc0 ls21"><span class="fc1 sc0">.</span></div><div class="t m36a xe h36e y38f ff10 fs369 fc1 sc0 ls21"><span class="fc1 sc0">\u2192</span></div><div class="t m36b x63 h36f y390 ffd fs36a fc1 sc0 ls19f"><span class="fc1 sc0">lli</span></div><div class="t m36c x12 h370 y391 ffd fs36b fc1 sc0 ls21"><span class="fc1 sc0">,</span></div><div class="t m36d x4e h371 y392 ffd fs36c fc1 sc0 ls21"><span class="fc1 sc0">y</span></div><div class="t m36e x3 h372 y393 ffd fs36d fc1 sc0 ls21"><span class="fc1 sc0">)</span></div><div class="t m36f x22 h373 y394 ffd fs36e fc1 sc0 ls1a0"><span class="fc1 sc0">A-</span></div><div class="t m370 xcb h374 y395 ffd fs36f fc1 sc0 ls1a1 wsb1"><span class="fc1 sc0">5-</span><span class="fc1 sc0">1</span></div><div class="t m371 xbf h375 y396 ffd fs370 fc1 sc0 ls21"><span class="fc1 sc0">.</span></div><div class="t m372 xdf h376 y397 ffd fs371 fc1 sc0 ls21"><span class="fc1 sc0">p</span></div><div class="t m373 x16 h377 y398 ffd fs372 fc1 sc0 ls1a2"><span class="fc1 sc0">At</span></div><div class="t m374 x72 h378 y399 ffd fs373 fc1 sc0 ls1a3"><span class="fc1 sc0">51</span></div><div class="t m375 x20 h379 y39a ffd fs374 fc1 sc0 ls21"><span class="fc1 sc0">.</span></div><div class="t m376 x1a h37a y39b ff1a fs375 fc1 sc0 ls21"><span class="fc1 sc0">\u21b3</span></div><div class="t m377 x8d h37b y39c ffd fs376 fc1 sc0 ls21"><span class="fc1 sc0">A</span></div><div class="t m378 x74 h37c y39d ffd fs377 fc1 sc0 ls1a4"><span class="fc1 sc0">de</span></div><div class="t m379 xe h37d y39e ffd fs378 fc1 sc0 ls21"><span class="fc1 sc0">1</span></div><div class="t m37a xf h37e y39f ffd fs379 fc1 sc0 ls1a5 wsb2"><span class="fc1 sc0">so</span><span class="fc1 sc0">l</span><span class="fc1 sc0">a</span></div><div class="t m37b x21 h37f y3a0 ffd fs37a fc1 sc0 ls1a6 wsb3"><span class="fc1 sc0">ve</span><span class="fc1 sc0">z</span></div><div class="t m37c x22 h380 y3a1 ffd fs37b fc1 sc0 ls1a7"><span class="fc1 sc0">en</span></div><div class="t m37d xcb h381 y3a2 ffd fs37c fc1 sc0 ls21"><span class="fc1 sc0">i</span></div><div class="t m37e xa8 h382 y3a3 ff10 fs37d fc1 sc0 ls21"><span class="fc1 sc0">¡</span></div><div class="t m37f x7b h383 y3a4 ffd fs37e fc1 sc0 ls21"><span class="fc1 sc0">=</span></div><div class="t m380 x15 h384 y3a5 ffd fs37f fc1 sc0 ls21"><span class="fc1 sc0">i</span></div><div class="t m381 xd h385 y3a6 ffd fs380 fc1 sc0 ls21"><span class="fc1 sc0">'</span></div><div class="t m382 x2c h386 y3a7 ffd fs381 fc1 sc0 ls21"><span class="fc1 sc0">t</span></div><div class="t m383 x3d h387 y3a8 ffd fs382 fc1 sc0 ls1a8 wsb4"><span class="fc1 sc0">1,</span><span class="fc1 sc0">0</span><span class="fc1 sc0">5</span></div><div class="t m384 x11 h388 y3a9 ffd fs383 fc1 sc0 ls21"><span class="fc1 sc0">p</span></div><div class="t m385 x4b h389 y3aa ff10 fs384 fc1 sc0 ls21"><span class="fc1 sc0">\u2192</span></div><div class="t m386 x59 h38a y3ab ffd fs385 fc1 sc0 ls1a9 wsb5"><span class="fc1 sc0">te</span><span class="fc1 sc0">n</span><span class="fc1 sc0">í</span><span class="fc1 sc0">a</span><span class="fc1 sc0">m</span><span class="blank _5"> </span><span class="fc1 sc0">o</span><span class="fc1 sc0">s</span></div><div class="t m387 xa9 h38b y3ac ffd fs386 fc1 sc0 ls21"><span class="fc1 sc0">:</span></div><div class="t m388 x63 h38c y3ad ffd fs387 fc1 sc0 ls1aa"><span class="fc1 sc0">log</span></div><div class="t m389 x4e h38d y3ae ffd fs388 fc1 sc0 ls21"><span class="fc1 sc0">(</span></div><div class="t m38a x3 h38e y3af ffd fs389 fc1 sc0 ls21"><span class="fc1 sc0">M</span></div><div class="t m38b x1c h38f y3b0 ffd fs38a fc1 sc0 ls21"><span class="fc1 sc0">)</span></div><div class="t m38c x25 h390 y3b1 ffd fs38b fc1 sc0 ls21"><span class="fc1 sc0">=</span></div><div class="t m38d xcb h391 y3b2 ffd fs38c fc1 sc0 ls1ab"><span class="fc1 sc0">log</span></div><div class="t m38e xe0 h392 y3b3 ffd fs38d fc1 sc0 ls1ac"><span class="fc1 sc0">IP</span></div><div class="t m38f x28 h393 y3b4 ffd fs38e fc1 sc0 ls21"><span class="fc1 sc0">)</span></div><div class="t m390 x4f h394 y3b5 ffd fs38f fc1 sc0 ls21"><span class="fc1 sc0">t</span></div><div class="t m391 x5f h395 y3b6 ffd fs390 fc1 sc0 ls1ad wsb6"><span class="fc1 sc0">IO</span><span class="fc1 sc0">G</span><span class="fc1 sc0">TKI</span></div><div class="t m392 xaa h396 y3b7 ff50 fs391 fc1 sc0 ls19c wsb7"><span class="fc1 sc0">t</span><span class="blank"> </span><span class="fc1 sc0">logy</span><span class="blank"> </span></div><div class="t m393 x93 h397 y3b8 ff51 fs392 fc1 sc0 ls21"><span class="fc1 sc0">)</span></div><div class="t m394 xe2 h398 y3b9 ffd fs393 fc1 sc0 ls21"><span class="fc1 sc0">-</span></div><div class="t m395 xc4 h399 y3ba ffd fs394 fc1 sc0 ls1ae"><span class="fc1 sc0">B.</span></div><div class="t m396 xb4 h39a y3bb ffd fs395 fc1 sc0 ls21"><span class="fc1 sc0">i</span></div><div class="t m397 x4b h39b y3bc ff10 fs396 fc1 sc0 ls21"><span class="fc1 sc0">\u2192</span></div><div class="t m398 x8c h39c y3bd ffd fs397 fc1 sc0 ls1af wsb8"><span class="fc1 sc0">Po</span><span class="fc1 sc0">r</span></div><div class="t m399 x17 h39d y3be ffd fs398 fc1 sc0 ls1b0 wsb9"><span class="fc1 sc0">ta</span><span class="fc1 sc0">nt</span><span class="fc1 sc0">o</span></div><div class="t m39a xb6 h39e y3bf ffd fs399 fc1 sc0 ls21"><span class="fc1 sc0">:</span></div><div class="t m39b x56 h39f y3c0 ffd fs39a fc1 sc0 ls21"><span class="fc1 sc0">A</span></div><div class="t m39c x3e h3a0 y3c1 ffd fs39b fc1 sc0 ls21"><span class="fc1 sc0">-</span></div><div class="t m39d x11 h3a1 y3c2 ffd fs39c fc1 sc0 ls1b1 wsba"><span class="fc1 sc0">IO</span><span class="fc1 sc0">GM</span></div><div class="t m39e xcb h3a2 y3c3 ffd fs39d fc1 sc0 ls21"><span class="fc1 sc0">x</span></div><div class="t m39f x66 h3a3 y3c4 ffd fs39e fc1 sc0 ls1b2 wsbb"><span class="fc1 sc0">At</span><span class="fc1 sc0">i</span></div><div class="t m3a0 xc7 h3a4 y3c5 ffd fs39f fc1 sc0 ls21"><span class="fc1 sc0">.</span></div><div class="t m3a1 x4b h3a5 y3c6 ffd fs3a0 fc1 sc0 ls21"><span class="fc1 sc0">\u2022</span></div><div class="t m3a2 x88 h3a6 y3c7 ffd fs3a1 fc1 sc0 ls21"><span class="fc1 sc0">i</span></div><div class="t m3a3 x22 h3a7 y3c8 ffd fs3a2 fc1 sc0 ls1b3"><span class="fc1 sc0">íp</span></div><div class="t m3a4 xba h3a8 y3c9 ffd fs3a3 fc1 sc0 ls21"><span class="fc1 sc0">=</span></div><div class="t m3a5 x89 h3a9 y3ca ffd fs3a4 fc1 sc0 ls1b4"><span class="fc1 sc0">it</span></div><div class="t m3a6 x7c h3aa y3cb ffd fs3a5 fc1 sc0 ls21"><span class="fc1 sc0">t</span></div><div class="t m3a7 xbb h3ab y3cc ffd fs3a6 fc1 sc0 ls1b5 wsbc"><span class="fc1 sc0">1,</span><span class="fc1 sc0">0</span><span class="fc1 sc0">5</span><span class="blank"> </span><span class="fc1 sc0">p</span><span class="blank"> </span><span class="fc1 sc0">s</span></div><div class="t m3a8 xb2 h3ac y3cd ffd fs3a7 fc1 sc0 ls1b6"><span class="fc1 sc0">ió</span></div><div class="t m3a9 x5d h3ad y3ce ffd fs3a8 fc1 sc0 ls21"><span class="fc1 sc0">=</span></div><div class="t m3aa x62 h3ae y3cf ffd fs3a9 fc1 sc0 ls21"><span class="fc1 sc0">í</span></div><div class="t m3ab xbf h3af y3d0 ffd fs3aa fc1 sc0 ls21"><span class="fc1 sc0">A</span></div><div class="t m3ac x23 h3b0 y3d1 ffd fs3ab fc1 sc0 ls1b7"><span class="fc1 sc0">tp</span></div><div class="t m3ad x1b h3b1 y3d2 ffd fs3ac fc1 sc0 ls21"><span class="fc1 sc0">E</span></div><div class="t m3ae x18 h3b2 y3d3 ffd fs3ad fc1 sc0 ls21"><span class="fc1 sc0">\u2022</span></div><div class="t m3af x1d h3b3 y3d4 ffd fs3ae fc1 sc0 ls1b8 wsbd"><span class="fc1 sc0">IO</span><span class="fc1 sc0">GM</span></div><div class="t m3b0 x31 h3b4 y3d5 ff52 fs3af fc1 sc0 ls21"><span class="fc1 sc0">}</span></div><div class="t m3b1 x7c h3b5 y3d6 ffd fs3b0 fc1 sc0 ls1b9"><span class="fc1 sc0">cae</span></div><div class="t m3b2 x67 h3b6 y3d7 ffd fs3b1 fc1 sc0 ls1ba"><span class="fc1 sc0">su</span></div><div class="t m3b3 x46 h3b7 y3d8 ffd fs3b2 fc1 sc0 ls1bb wsbe"><span class="fc1 sc0">niv</span><span class="fc1 sc0">el</span></div><div class="t m3b4 xbc h3b8 y3d9 ffd fs3b3 fc1 sc0 ls1bc wsbf"><span class="fc1 sc0">per</span><span class="fc1 sc0">o</span></div><div class="t m3b5 x80 h3b9 y3da ffd fs3b4 fc1 sc0 ls1bd wsc0"><span class="fc1 sc0">lu</span><span class="fc1 sc0">eg</span><span class="fc1 sc0">o</span></div><div class="t m3b6 x23 h3ba y3db ffd fs3b5 fc1 sc0 ls1be"><span class="fc1 sc0">sigue</span></div><div class="t m3b7 xe3 h3bb y3dc ffd fs3b6 fc1 sc0 ls1bf wsc1"><span class="fc1 sc0">cr</span><span class="fc1 sc0">e</span><span class="fc1 sc0">ci</span><span class="fc1 sc0">e</span><span class="fc1 sc0">n</span><span class="fc1 sc0">d</span><span class="fc1 sc0">o</span></div><div class="t m3b8 x7f h3bc y3dd ffd fs3b7 fc1 sc0 ls21"><span class="fc1 sc0">a</span></div><div class="t m3b9 x4a h3bd y3de ffd fs3b8 fc1 sc0 ls1c0"><span class="fc1 sc0">la</span></div><div class="t m3ba x44 h3be y3df ffd fs3b9 fc1 sc0 ls21"><span class="fc1 sc0">+</span></div><div class="t m3bb x32 h3bf y3e0 ffd fs3ba fc1 sc0 ls1c1"><span class="fc1 sc0">misma</span></div><div class="t m3bc x46 h3c0 y3e1 ffd fs3bb fc1 sc0 ls1c2 wsc2"><span class="fc1 sc0">ta</span><span class="fc1 sc0">sa</span></div><div class="t m3bd xaa h3c1 y3e2 ffd fs3bc fc1 sc0 ls21"><span class="fc1 sc0">.</span></div></div><div class="pi" data-data="{"ctm":[1.000000,0.000000,0.000000,1.000000,0.000000,0.000000]}"></div></div>
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