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Tarea 3 - Tablas de Amortización Resueltas
matematica financiera (Universidad Nacional Abierta y a Distancia)
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Descargado por Lina Johanna Rodríguez Hernández (linamariaher1819@gmail.com)
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ESCUELA DE CIENCIAS ADMINISTRATIVAS, CONTABLES, EC
ANEXO-PLANTILLA-TAREA 3- TABLAS
MATEMATICAS FINANCIERA
 (
lOMoARcPSD|22406518
)
 (
Descargado por Lina Johanna Rodríguez Hernández (linamariaher1819@gmail.com)
)
ONOMICAS Y DE NEGOCIOS ECACEN
DE AMORTIZACIÓN
S 116005
Evaluación Financiera de
REGISTRE AQUÍ EL NOMBRE DEL ESTUDIANTE
REGISTRE AQUÍ EL
Presen
Registre Aquí el Nomb
UNIVERSIDAD NACIONAL AB ESCUELA DE CIENCIAS ADMINISTRATIVAS, CONT
Registre Aquí el Nombre del P
Matemáticas
116
Registre Aq Registre Aq
	
	
	
	
Proyectos de Inversión
REGISTRE AQUÍ EL CÓDIGO DEL ESTUDIANTE NÚMERO DE GRUPO
tado a:
re del Tutor Asignado
IERTA Y A DISTANCIA UNAD
ABLES, ECONÓMICAS Y DE NEGOCIOS (ECACEN)
rograma Académico (Carrera) Financieras
005
uí la Ciudad uí la Fecha
	
	Diligencie, únicamente, las
	
La información que debe utilizar
	
	Condiciones de Crédito
	Monto
	
	Decisión 1
	Alternativa 1
	$20,000,000
	
	
	Alternativa 2
	$20,000,000
	
	Decisión 2
	Alternativa 1
	$28,000,000
	
	
	Alternativa 2
	$28,000,000
	
	Decisión 3
	Alternativa 1
	$48,000,000
	
	
	Alternativa 2
	$48,000,000
	
	Decisión 4
	Alternativa 1
	$45,000,000
	
	
	Alternativa 2
	$45,000,000
	
Tenga en cuenta las si
1
𝑖𝑝 =	1 + 𝒊𝑬𝑨	𝑚 − 1
	
	m
	Expresión Nominal
	Número Periodos
	
	Meses
	NACM
	12
	
	Bimestres
	NACB
	6
	
	Cuatrimestres
	NACC
	3
	
	Trimestres
	NACT
	4
	
	
	celdas solicitadas de tasa anual y monto
	
para el desarrollo de la actividad es la siguiente:
	Tasa Anual
	Tasa Periódica
	Plazo
	
	21.00% NACM
	1.75% MMV
	96
	
	21.00% NACM
	1.75% MMV
	96
	
	20.00% EA
	1.53% MMV
	84
	
	20.00% EA
	1.53% MMV
	84
	
	26.00% EA
	3.93% BBV
	57
	
	26.00% EA
	3.93% BBV
	57
	
	26.00% NACM
	2.17% MMV
	120
	
	26.00% NACM
	2.17% MMV
	120
	
	
guientes fórmulas:
𝑖	= 𝑖𝑁𝑂𝑀𝑎
𝑝	𝑚
	
	
	
	Una empresa, vínculada al sector industrial, solicita un cr
alternativa de financiar el crédito con un sistema de amo
· Alternativa 1: Financiación con Cuota Fija mensual a u
· Alternativa 2: Financiación con Abono mensual Consta El objetivo es estructurar la tabla de amortización corresp
	
	
	Capital (P)
Tasa (i) Plazo (n)
	$20,000,000
	Cuota (A)
	
	
	1.75%
	
	
	
	96
	
	
	
	Decisión
	
	
	Ambas opciones serian igual de utiles para la emp favorable seria la alternativa 2 con una cantidad de
	
	
	ALTERN
	
	TABLA DE AMORTIZA
	
	
	No. de Cuota
	Saldo Inicial
	Cuota
	
	1
2
	$20,000,000
$19,918,380
$19,835,331
$19,750,829
$19,664,849
$19,577,363
$19,488,347
$19,397,773
$19,305,614
$19,211,842
$19,116,429
$19,019,346
$18,920,564
$18,820,054
$18,717,785
$18,613,726
$18,507,846
$18,400,113
	$431,620
	
	
	
	$431,620
	
	3
4
	
	$431,620
	
	
	
	$431,620
	
	5
6
	
	$431,620
	
	
	
	$431,620
	
	7
8
	
	$431,620
	
	
	
	$431,620
	
	9
10
	
	$431,620
	
	
	
	$431,620
	
	11
12
	
	$431,620
	
	
	
	$431,620
	
	13
14
	
	$431,620
	
	
	
	$431,620
	
	15
16
	
	$431,620
	
	
	
	$431,620
	
	17
18
	
	$431,620
	
	
	
	$431,620
	19
20
	$18,290,495
$18,178,958
$18,065,470
$17,949,995
$17,832,500
$17,712,949
$17,591,305
$17,467,533
$17,341,594
$17,213,452
$17,083,067
$16,950,401
$16,815,412
$16,678,062
$16,538,308
$16,396,108
$16,251,420
$16,104,199
$15,954,403
$15,801,985
$15,646,899
$15,489,100
$15,328,539
$15,165,168
$14,998,938
$14,829,799
$14,657,701
$14,482,590
$14,304,415
$14,123,122
$13,938,657
$13,750,963
$13,559,985
$13,365,664
$13,167,943
$12,966,762
$12,762,060
$12,553,776
$12,341,847
$12,126,209
$11,906,798
$11,683,546
$11,456,388
$11,225,255
	$431,620
	
	
	$431,620
	21
22
	
	$431,620
	
	
	$431,620
	23
24
	
	$431,620
	
	
	$431,620
	25
26
	
	$431,620
	
	
	$431,620
	27
28
	
	$431,620
	
	
	$431,620
	29
30
	
	$431,620
	
	
	$431,620
	31
32
	
	$431,620
	
	
	$431,620
	33
34
	
	$431,620
	
	
	$431,620
	35
36
	
	$431,620
	
	
	$431,620
	37
38
	
	$431,620
	
	
	$431,620
	39
40
	
	$431,620
	
	
	$431,620
	41
42
	
	$431,620
	
	
	$431,620
	43
44
	
	$431,620
	
	
	$431,620
	45
46
	
	$431,620
	
	
	$431,620
	47
48
	
	$431,620
	
	
	$431,620
	49
50
	
	$431,620
	
	
	$431,620
	51
52
	
	$431,620
	
	
	$431,620
	53
54
	
	$431,620
	
	
	$431,620
	55
56
	
	$431,620
	
	
	$431,620
	57
58
	
	$431,620
	
	
	$431,620
	59
60
	
	$431,620
	
	
	$431,620
	61
62
	
	$431,620
	
	
	$431,620
	
	63
64
	$10,990,077
$10,750,783
$10,507,301
$10,259,559
$10,007,481
$9,750,992
$9,490,014
$9,224,469
$8,954,277
$8,679,356
$8,399,625
$8,114,998
$7,825,390
$7,530,715
$7,230,882
$6,925,802
$6,615,384
$6,299,533
$5,978,154
$5,651,152
$5,318,427
$4,979,879
$4,635,407
$4,284,906
$3,928,272
$3,565,396
$3,196,170
$2,820,483
$2,438,221
$2,049,270
$1,653,512
$1,250,828
$841,098
$424,197
	$431,620
	
	
	
	$431,620
	
	65
66
	
	$431,620
	
	
	
	$431,620
	
	67
68
	
	$431,620
	
	
	
	$431,620
	
	69
70
	
	$431,620
	
	
	
	$431,620
	
	71
72
	
	$431,620
	
	
	
	$431,620
	
	73
74
	
	$431,620
	
	
	
	$431,620
	
	75
76
	
	$431,620
	
	
	
	$431,620
	
	77
78
	
	$431,620
	
	
	
	$431,620
	
	79
80
	
	$431,620
	
	
	
	$431,620
	
	81
82
	
	$431,620
	
	
	
	$431,620
	
	83
84
	
	$431,620
	
	
	
	$431,620
	
	85
86
	
	$431,620
	
	
	
	$431,620
	
	87
88
	
	$431,620
	
	
	
	$431,620
	
	89
90
	
	$431,620
	
	
	
	$431,620
	
	91
92
	
	$431,620
	
	
	
	$431,620
	
	93
94
	
	$431,620
	
	
	
	$431,620
	
	95
96
	
	$431,620
	
	
	
	$431,620
	
Diligencie, únicamente, las celdas en c
dito comercial a una institución financiera, con la finalidad de financiar la com
rtización de cuota fija o con un sistema de abono constante a capital, c n Plazo de 8 años y la tasa de interés periódica dada a continuación.
nte a Capital a un plazo de 8 años y la tasa de interés periódica dada a conti
ondiente y tomar una decisión; teniendo en cuenta los problemas de liqu
$431,620
𝐴 = 𝑃
1 + 𝑖 𝑛𝑖
1 + 𝑖 𝑛 − 1
resa exceptuando la diferencia de pago extra que hay entre la 2da y deuda menor a la anterior.
ATIVA 1
CIÓN DE CUOTA FIJA
	Interés
	Abono
	Saldo Final
	$350,000
	$81,620
	$19,918,380
	$348,572
	$83,049
	$19,835,331
	$347,118
	$84,502
	$19,750,829
	$345,640
	$85,981
	$19,664,849
	$344,135
	$87,485
	$19,577,363
	$342,604
	$89,016
	$19,488,347
	$341,046
	$90,574
	$19,397,773
	$339,461
	$92,159
	$19,305,614
	$337,848
	$93,772
	$19,211,842
	$336,207
	$95,413
	$19,116,429
	$334,538
	$97,083
	$19,019,346
	$332,839
	$98,782
	$18,920,564
	$331,110
	$100,510
	$18,820,054
	$329,351
	$102,269
	$18,717,785
	$327,561
	$104,059
	$18,613,726
	$325,740
	$105,880
	$18,507,846
	$323,887
	$107,733
	$18,400,113
	$322,002
	$109,618
	$18,290,495
	$320,084
	$111,537
	$18,178,958
	$318,132
	$113,488
	$18,065,470
	$316,146
	$115,474
	$17,949,995
	$314,125
	$117,495
	$17,832,500
	$312,069
	$119,551
	$17,712,949
	$309,977
	$121,644
	$17,591,305
	$307,848
	$123,772
	$17,467,533
	$305,682
	$125,938
	$17,341,594
	$303,478
	$128,142
	$17,213,452
	$301,235
	$130,385
	$17,083,067
	$298,954
	$132,667
	$16,950,401
	$296,632
	$134,988
	$16,815,412
	$294,270
	$137,350
	$16,678,062
	$291,866
	$139,754
	$16,538,308
	$289,420
	$142,200
	$16,396,108
	$286,932
	$144,688
	$16,251,420
	$284,400
	$147,220
	$16,104,199
	$281,823
	$149,797
	$15,954,403
	$279,202
	$152,418
	$15,801,985
	$276,535
	$155,085
	$15,646,899
	$273,821
	$157,799
	$15,489,100
	$271,059
	$160,561
	$15,328,539
	$268,249
	$163,371
	$15,165,168
	$265,390
	$166,230
	$14,998,938
	$262,481
	$169,139
	$14,829,799$259,521
	$172,099
	$14,657,701
	$256,510
	$175,110
	$14,482,590
	$253,445
	$178,175
	$14,304,415
	$250,327
	$181,293
	$14,123,122
	$247,155
	$184,466
	$13,938,657
	$243,926
	$187,694
	$13,750,963
	$240,642
	$190,978
	$13,559,985
	$237,300
	$194,320
	$13,365,664
	$233,899
	$197,721
	$13,167,943
	$230,439
	$201,181
	$12,966,762
	$226,918
	$204,702
	$12,762,060
	$223,336
	$208,284
	$12,553,776
	$219,691
	$211,929
	$12,341,847
	$215,982
	$215,638
	$12,126,209
	$212,209
	$219,412
	$11,906,798
	$208,369
	$223,251
	$11,683,546
	$204,462
	$227,158
	$11,456,388
	$200,487
	$231,133
	$11,225,255
	$196,442
	$235,178
	$10,990,077
	$192,326
	$239,294
	$10,750,783
	
	$188,139
	$243,481
	$10,507,301
	
	$183,878
	$247,742
	$10,259,559
	
	$179,542
	$252,078
	$10,007,481
	
	$175,131
	$256,489
	$9,750,992
	
	$170,642
	$260,978
	$9,490,014
	
	$166,075
	$265,545
	$9,224,469
	
	$161,428
	$270,192
	$8,954,277
	
	$156,700
	$274,920
	$8,679,356
	
	$151,889
	$279,731
	$8,399,625
	
	$146,993
	$284,627
	$8,114,998
	
	$142,012
	$289,608
	$7,825,390
	
	$136,944
	$294,676
	$7,530,715
	
	$131,788
	$299,833
	$7,230,882
	
	$126,540
	$305,080
	$6,925,802
	
	$121,202
	$310,419
	$6,615,384
	
	$115,769
	$315,851
	$6,299,533
	
	$110,242
	$321,378
	$5,978,154
	
	$104,618
	$327,002
	$5,651,152
	
	$98,895
	$332,725
	$5,318,427
	
	$93,072
	$338,548
	$4,979,879
	
	$87,148
	$344,472
	$4,635,407
	
	$81,120
	$350,501
	$4,284,906
	
	$74,986
	$356,634
	$3,928,272
	
	$68,745
	$362,875
	$3,565,396
	
	$62,394
	$369,226
	$3,196,170
	
	$55,933
	$375,687
	$2,820,483
	
	$49,358
	$382,262
	$2,438,221
	
	$42,669
	$388,951
	$2,049,270
	
	$35,862
	$395,758
	$1,653,512
	
	$28,936
	$402,684
	$1,250,828
	
	$21,889
	$409,731
	$841,098
	
	$14,719
	$416,901
	$424,197
	
	$7,423
	$424,197
	$0
	
	
	olor amarillo.
	
	pra de un activo fijo que le permita modernizar su sistema de producción. S
uyas condiciones se plantean a continuación:
nuación.
idez que enfrenta actualmente la empresa:
	
	Capital (P)
Tasa (i) Plazo (n)
	$20,000,000
	
	
	1.75%
	
	
	96
	
	
	1era alternativa, por lo cual la mas conveniente y
	
	
	ALTERNATIVA 2
	TABLA DE AMORTIZACIÓN ABONO CONSTANTE
	
	No. de Cuota
	Saldo Inicial
	Cuota
	Interés
	1
2
	$20,000,000
$19,791,667
$19,583,333
$19,375,000
$19,166,667
$18,958,333
$18,750,000
$18,541,667
$18,333,333
$18,125,000
$17,916,667
$17,708,333
$17,500,000
$17,291,667
$17,083,333
$16,875,000
$16,666,667
$16,458,333
	$558,333
	$350,000
	
	
	$554,688
	$346,354
	3
4
	
	$551,042
	$342,708
	
	
	$547,396
	$339,063
	5
6
	
	$543,750
	$335,417
	
	
	$540,104
	$331,771
	7
8
	
	$536,458
	$328,125
	
	
	$532,813
	$324,479
	9
10
	
	$529,167
	$320,833
	
	
	$525,521
	$317,188
	11
12
	
	$521,875
	$313,542
	
	
	$518,229
	$309,896
	13
14
	
	$514,583
	$306,250
	
	
	$510,938
	$302,604
	15
16
	
	$507,292
	$298,958
	
	
	$503,646
	$295,313
	17
18
	
	$500,000
	$291,667
	
	
	$496,354
	$288,021
	19
20
	$16,250,000
$16,041,667
$15,833,333
$15,625,000
$15,416,667
$15,208,333
$15,000,000
$14,791,667
$14,583,333
$14,375,000
$14,166,667
$13,958,333
$13,750,000
$13,541,667
$13,333,333
$13,125,000
$12,916,667
$12,708,333
$12,500,000
$12,291,667
$12,083,333
$11,875,000
$11,666,667
$11,458,333
$11,250,000
$11,041,667
$10,833,333
$10,625,000
$10,416,667
$10,208,333
$10,000,000
$9,791,667
$9,583,333
$9,375,000
$9,166,667
$8,958,333
$8,750,000
$8,541,667
$8,333,333
$8,125,000
$7,916,667
$7,708,333
$7,500,000
$7,291,667
	$492,708
	$284,375
	
	
	$489,063
	$280,729
	21
22
	
	$485,417
	$277,083
	
	
	$481,771
	$273,438
	23
24
	
	$478,125
	$269,792
	
	
	$474,479
	$266,146
	25
26
	
	$470,833
	$262,500
	
	
	$467,188
	$258,854
	27
28
	
	$463,542
	$255,208
	
	
	$459,896
	$251,563
	29
30
	
	$456,250
	$247,917
	
	
	$452,604
	$244,271
	31
32
	
	$448,958
	$240,625
	
	
	$445,313
	$236,979
	33
34
	
	$441,667
	$233,333
	
	
	$438,021
	$229,688
	35
36
	
	$434,375
	$226,042
	
	
	$430,729
	$222,396
	37
38
	
	$427,083
	$218,750
	
	
	$423,438
	$215,104
	39
40
	
	$419,792
	$211,458
	
	
	$416,146
	$207,813
	41
42
	
	$412,500
	$204,167
	
	
	$408,854
	$200,521
	43
44
	
	$405,208
	$196,875
	
	
	$401,563
	$193,229
	45
46
	
	$397,917
	$189,583
	
	
	$394,271
	$185,938
	47
48
	
	$390,625
	$182,292
	
	
	$386,979
	$178,646
	49
50
	
	$383,333
	$175,000
	
	
	$379,688
	$171,354
	51
52
	
	$376,042
	$167,708
	
	
	$372,396
	$164,063
	53
54
	
	$368,750
	$160,417
	
	
	$365,104
	$156,771
	55
56
	
	$361,458
	$153,125
	
	
	$357,813
	$149,479
	57
58
	
	$354,167
	$145,833
	
	
	$350,521
	$142,188
	59
60
	
	$346,875
	$138,542
	
	
	$343,229
	$134,896
	61
62
	
	$339,583
	$131,250
	
	
	$335,938
	$127,604
	63
64
	$7,083,333
$6,875,000
$6,666,667
$6,458,333
$6,250,000
$6,041,667
$5,833,333
$5,625,000
$5,416,667
$5,208,333
$5,000,000
$4,791,667
$4,583,333
$4,375,000
$4,166,667
$3,958,333
$3,750,000
$3,541,667
$3,333,333
$3,125,000
$2,916,667
$2,708,333
$2,500,000
$2,291,667
$2,083,333
$1,875,000
$1,666,667
$1,458,333
$1,250,000
$1,041,667
$833,333
$625,000
$416,667
$208,333
	$332,292
	$123,958
	
	
	$328,646
	$120,313
	65
66
	
	$325,000
	$116,667
	
	
	$321,354
	$113,021
	67
68
	
	$317,708
	$109,375
	
	
	$314,063
	$105,729
	69
70
	
	$310,417
	$102,083
	
	
	$306,771
	$98,438
	71
72
	
	$303,125
	$94,792
	
	
	$299,479
	$91,146
	73
74
	
	$295,833
	$87,500
	
	
	$292,188
	$83,854
	75
76
	
	$288,542
	$80,208
	
	
	$284,896
	$76,563
	77
78
	
	$281,250
	$72,917
	
	
	$277,604
	$69,271
	79
80
	
	$273,958
	$65,625
	
	
	$270,313
	$61,979
	81
82
	
	$266,667
	$58,333
	
	
	$263,021
	$54,688
	83
84
	
	$259,375
	$51,042
	
	
	$255,729
	$47,396
	85
86
	
	$252,083
	$43,750
	
	
	$248,438
	$40,104
	87
88
	
	$244,792
	$36,458
	
	
	$241,146
	$32,813
	89
90
	
	$237,500
	$29,167
	
	
	$233,854
	$25,521
	91
92
	
	$230,208
	$21,875
	
	
	$226,563
	$18,229
	93
94
	
	$222,917
	$14,583
	
	
	$219,271
	$10,938
	95
96
	
	$215,625
	$7,292
	
	
	$211,979
	$3,646
	
	
	
	plantea la
	
	
	
	
	A CAPITAL
	
	
	Abono
	Saldo Final
	
	$208,333
	$19,791,667
	
	$208,333
	$19,583,333
	
	$208,333
	$19,375,000
	
	$208,333
	$19,166,667
	
	$208,333
	$18,958,333
	
	$208,333
	$18,750,000
	
	$208,333
	$18,541,667
	
	$208,333
	$18,333,333
	
	$208,333
	$18,125,000
	
	$208,333
	$17,916,667
	
	$208,333
	$17,708,333
	
	$208,333
	$17,500,000
	
	$208,333
	$17,291,667
	
	$208,333
	$17,083,333
	
	$208,333
	$16,875,000
	
	$208,333
	$16,666,667
	
	$208,333
	$16,458,333
	
	$208,333
	$16,250,000
	
	$208,333
	$16,041,667
	$208,333
	$15,833,333
	$208,333
	$15,625,000
	$208,333
	$15,416,667
	$208,333
	$15,208,333
	$208,333
	$15,000,000
	$208,333
	$14,791,667
	$208,333
	$14,583,333
	$208,333
	$14,375,000
	$208,333
	$14,166,667
	$208,333
	$13,958,333
	$208,333
	$13,750,000
	$208,333
	$13,541,667
	$208,333
	$13,333,333
	$208,333
	$13,125,000
	$208,333
	$12,916,667
	$208,333
	$12,708,333
	$208,333
	$12,500,000
	$208,333
	$12,291,667
	$208,333
	$12,083,333
	$208,333
	$11,875,000
	$208,333
	$11,666,667
	$208,333
	$11,458,333
	$208,333
	$11,250,000
	$208,333
	$11,041,667
	$208,333
	$10,833,333
	$208,333
	$10,625,000
	$208,333
	$10,416,667
	$208,333
	$10,208,333
	$208,333
	$10,000,000
	$208,333
	$9,791,667
	$208,333
	$9,583,333
	$208,333
	$9,375,000
	$208,333
	$9,166,667
	$208,333
	$8,958,333
	$208,333
	$8,750,000
	$208,333
	$8,541,667
	$208,333
	$8,333,333
	$208,333
	$8,125,000
	$208,333
	$7,916,667
	$208,333
	$7,708,333
	$208,333
	$7,500,000
	$208,333
	$7,291,667
	$208,333
	$7,083,333
	$208,333
	$6,875,000
	
	$208,333
	$6,666,667
	
	$208,333
	$6,458,333
	
	$208,333
	$6,250,000
	
	$208,333
	$6,041,667
	
	$208,333
	$5,833,333
	
	$208,333
	$5,625,000
	
	$208,333
	$5,416,667
	
	$208,333
	$5,208,333
	
	$208,333
	$5,000,000
	
	$208,333
	$4,791,667
	
	$208,333
	$4,583,333
	
	$208,333
	$4,375,000
	
	$208,333
	$4,166,667
	
	$208,333
	$3,958,333
	
	$208,333
	$3,750,000
	
	$208,333
	$3,541,667
	
	$208,333
	$3,333,333
	
	$208,333
	$3,125,000
	
	$208,333
	$2,916,667$208,333
	$2,708,333
	
	$208,333
	$2,500,000
	
	$208,333
	$2,291,667
	
	$208,333
	$2,083,333
	
	$208,333
	$1,875,000
	
	$208,333
	$1,666,667
	
	$208,333
	$1,458,333
	
	$208,333
	$1,250,000
	
	$208,333
	$1,041,667
	
	$208,333
	$833,333
	
	$208,333
	$625,000
	
	$208,333
	$416,667
	
	$208,333
	$208,333
	
	$208,333
	$0
	
	
 (
Una empresa acude a un establecimiento de crédito a solicitar
 
incertidumbre
 
sobre
 
la
 
aceptación
 
del
 
producto
 
en
 
dicho
 
merca
 
flexibilizar los
 
pagos:
Alternativa
 
1:
 
Periodo
 
de
 
gracia
 
de 1
 
año
 
y
 
un
 
plazo
 
total
 
d
Alternativa 2: 
Periodo muerto de 12 meses y un plazo total
 
A
 
partir
 
de
 
la
 
estructuración
 
de
 
los
 
planes
 
de
 
pago,
 
para
 
cada
 
u
Capital
 
(P)
Tasa (i)
 
Plazo
Periodo Gracia
 
Periodo
 
Abono
 
(n
a
)
Cuota
 
(A)
$28,000,000
1.53%
84
12
72
$644,510
Decisión
Dada la incertidumbre que hay por la aceptación o no de
 
esta puedan tener un plazo de hasta 1 año de realizar e
 
como
 
en
 
caso
 
de
 
fracaso,
 
igual
 
tener
 
presentes
 
y
 
con
 
bu
ALTERNAT
TABLA
 
DE
 
AMORTIZACIÓN
 
DE
 
CUOTA
No.
 
de
 
Cuota
Saldo
 
Inicial
Cuota
1
2
$28,000,000
$28,000,000
$28,000,000
$28,000,000
$28,000,000
$28,000,000
$28,000,000
$28,000,000
$28,000,000
$28,000,000
$28,000,000
$28,000,000
$428,665
$428,665
3
4
$428,665
$428,665
5
6
$428,665
$428,665
7
8
$428,665
$428,665
9
10
$428,665
$428,665
11
12
$428,665
$428,665
)
𝐴
	13
14
	$28,000,000
$27,784,155
$27,565,005
$27,342,500
$27,116,589
$26,887,219
$26,654,338
$26,417,891
$26,177,825
$25,934,083
$25,686,610
$25,435,348
$25,180,239
$24,921,225
$24,658,245
$24,391,239
$24,120,146
$23,844,902
$23,565,445
$23,281,709
$22,993,629
$22,701,139
$22,404,171
$22,102,656
$21,796,526
$21,485,709
$21,170,133
$20,849,726
$20,524,414
$20,194,122
$19,858,773
$19,518,290
$19,172,594
$18,821,606
$18,465,244
$18,103,427
$17,736,070
$17,363,090
$16,984,399
$16,599,911
$16,209,536
$15,813,185
$15,410,766
$15,002,187
	$644,510
	
	
	$644,510
	15
16
	
	$644,510
	
	
	$644,510
	17
18
	
	$644,510
	
	
	$644,510
	19
20
	
	$644,510
	
	
	$644,510
	21
22
	
	$644,510
	
	
	$644,510
	23
24
	
	$644,510
	
	
	$644,510
	25
26
	
	$644,510
	
	
	$644,510
	27
28
	
	$644,510
	
	
	$644,510
	29
30
	
	$644,510
	
	
	$644,510
	31
32
	
	$644,510
	
	
	$644,510
	33
34
	
	$644,510
	
	
	$644,510
	35
36
	
	$644,510
	
	
	$644,510
	37
38
	
	$644,510
	
	
	$644,510
	39
40
	
	$644,510
	
	
	$644,510
	41
42
	
	$644,510
	
	
	$644,510
	43
44
	
	$644,510
	
	
	$644,510
	45
46
	
	$644,510
	
	
	$644,510
	47
48
	
	$644,510
	
	
	$644,510
	49
50
	
	$644,510
	
	
	$644,510
	51
52
	
	$644,510
	
	
	$644,510
	53
54
	
	$644,510
	
	
	$644,510
	55
56
	
	$644,510
	
	
	$644,510
	
	57
58
	$14,587,352
$14,166,166
$13,738,532
$13,304,351
$12,863,524
$12,415,947
$11,961,518
$11,500,132
$11,031,683
$10,556,062
$10,073,159
$9,582,863
$9,085,061
$8,579,638
$8,066,478
$7,545,461
$7,016,467
$6,479,375
$5,934,061
$5,380,398
$4,818,258
$4,247,513
$3,668,030
$3,079,675
$2,482,313
$1,875,805
$1,260,012
$634,792
	$644,510
	
	
	
	$644,510
	
	59
60
	
	$644,510
	
	
	
	$644,510
	
	61
62
	
	$644,510
	
	
	
	$644,510
	
	63
64
	
	$644,510
	
	
	
	$644,510
	
	65
66
	
	$644,510
	
	
	
	$644,510
	
	67
68
	
	$644,510
	
	
	
	$644,510
	
	69
70
	
	$644,510
	
	
	
	$644,510
	
	71
72
	
	$644,510
	
	
	
	$644,510
	
	73
74
	
	$644,510
	
	
	
	$644,510
	
	75
76
	
	$644,510
	
	
	
	$644,510
	
	77
78
	
	$644,510
	
	
	
	$644,510
	
	79
80
	
	$644,510
	
	
	
	$644,510
	
	81
82
	
	$644,510
	
	
	
	$644,510
	
	83
84
	
	$644,510
	
	
	
	$644,510
	
	Diligencie, únicamente, las celdas en color amarillo. e
	
	financiamiento con la finalidad de llevar a cabo un proyecto de expansión geo do y no se tiene certeza sobre la capacidad de responder por la obligación fin
e 7 años. La tasa de interés periódica está dada a continuación. de 7 años. La tasa de interés periódica está dada a continuación
na de las alternativas; deberá tomar la decisión teniendo en cuenta la incerti
	
	
	$28,000,000
	
	1.53%
	
	84
	
	12
	1 + 𝑖 𝑛𝑎 𝑖
= 𝑷
1 + 𝑖 𝑛𝑎 − 1
	
	72
	
	
	$33,600,000
	
	
	$773,412
	
	
	
	l producto en un nuevo mercado, lo mas conveniente para la empres l primer pago en lo que en ese año testean y llevan a flote su produ en tiempo de plazo la primera cuota a dar de la deuda.
	
	IVA 1
	
	FIJA CON PERIODO DE GRACIA
	
	
	Interés
	Abono
	Saldo Final
	
	$428,665
	$0
	$28,000,000
	
	$428,665
	$0
	$28,000,000
	
	$428,665
	$0
	$28,000,000
	
	$428,665
	$0
	$28,000,000
	
	$428,665
	$0
	$28,000,000
	
	$428,665
	$0
	$28,000,000
	
	$428,665
	$0
	$28,000,000
	
	$428,665
	$0
	$28,000,000
	
	$428,665
	$0
	$28,000,000
	
	$428,665
	$0
	$28,000,000
	
	$428,665
	$0
	$28,000,000
	
	$428,665
	$0
	$28,000,000
	
	$428,665
	$215,845
	$27,784,155
	$425,361
	$219,150
	$27,565,005
	$422,006
	$222,505
	$27,342,500
	$418,599
	$225,911
	$27,116,589
	$415,141
	$229,370
	$26,887,219
	$411,629
	$232,881
	$26,654,338
	$408,064
	$236,447
	$26,417,891
	$404,444
	$240,066
	$26,177,825
	$400,769
	$243,742
	$25,934,083
	$397,037
	$247,473
	$25,686,610
	$393,248
	$251,262
	$25,435,348
	$389,402
	$255,109
	$25,180,239
	$385,496
	$259,014
	$24,921,225
	$381,531
	$262,980
	$24,658,245
	$377,505
	$267,006
	$24,391,239
	$373,417
	$271,093
	$24,120,146
	$369,267
	$275,244
	$23,844,902
	$365,053
	$279,458
	$23,565,445
	$360,774
	$283,736
	$23,281,709
	$356,431
	$288,080
	$22,993,629
	$352,020
	$292,490
	$22,701,139
	$347,542
	$296,968
	$22,404,171
	$342,996
	$301,514
	$22,102,656
	$338,380
	$306,130
	$21,796,526
	$333,693
	$310,817
	$21,485,709
	$328,935
	$315,576
	$21,170,133
	$324,104
	$320,407
	$20,849,726
	$319,198
	$325,312
	$20,524,414
	$314,218
	$330,292
	$20,194,122
	$309,161
	$335,349
	$19,858,773
	$304,027
	$340,483
	$19,518,290
	$298,815
	$345,696
	$19,172,594
	$293,522
	$350,988
	$18,821,606
	$288,149
	$356,362
	$18,465,244
	$282,693
	$361,817
	$18,103,427
	$277,154
	$367,357
	$17,736,070
	$271,530
	$372,981
	$17,363,090
	$265,820
	$378,691
	$16,984,399
	$260,022
	$384,488
	$16,599,911
	$254,136
	$390,375
	$16,209,536
	$248,159
	$396,351
	$15,813,185
	$242,091
	$402,419
	$15,410,766
	$235,931
	$408,580
	$15,002,187
	$229,676
	$414,835
	$14,587,352
	$223,325
	$421,186
	$14,166,166
	
	$216,877
	$427,634
	$13,738,532
	
	$210,330
	$434,181
	$13,304,351
	
	$203,683
	$440,828
	$12,863,524
	
	$196,934
	$447,577
	$12,415,947
	
	$190,082
	$454,429
	$11,961,518
	
	$183,125
	$461,386
	$11,500,132
	
	$176,061
	$468,449
	$11,031,683
	
	$168,889
	$475,621
	$10,556,062
	
	$161,608
	$482,903
	$10,073,159
	
	$154,215
	$490,296
	$9,582,863
	
	$146,709
	$497,802
	$9,085,061
	
	$139,087
	$505,423
	$8,579,638
	
	$131,350
	$513,161
	$8,066,478
	
	$123,494
	$521,017
	$7,545,461
	
	$115,517
	$528,993
	$7,016,467
	
	$107,418
	$537,092
	$6,479,375
	
	$99,196
	$545,315
	$5,934,061
	
	$90,847
	$553,663
	$5,380,398
	
	$82,371
	$562,139
	$4,818,258
	
	$73,765
	$570,745
	$4,247,513
	
	$65,027
	$579,483
	$3,668,030
	
	$56,156
	$588,355
	$3,079,675
	
	$47,148
	$597,362
	$2,482,313
	
	$38,003
	$606,508
	$1,875,805
	
	$28,718
	$615,793
	$1,260,012
	
	$19,290
	$625,220
	$634,792
	
	$9,718
	$634,792
	$0
	
	
dite las celdas de color blanco
gráfica e incursionar en el mercado peruano. No obstante, hoy afronta un nivel impo anciera a corto plazo. Por tanto, solicita financiamiento a cuota fija con dos posibilida
dumbre sobre la generación de flujo de caja, por parte de la empresa, a corto plazo.
Deuda (D) Tasa (i) Plazo (n)
Periodo Muerto (nm) Periodo Abono (na) Capital (P)
Cuota (A)
𝑷 = 𝐷 1 + 𝑖 (𝑛𝑚)
a en este caso es ir por la alternativa 2, haciendo que con cto con suficiente tiempo de preparación e inversión, asi
ALTERNATIVA 2
TABLA DE AMORTIZACIÓN CON PERIODO MUE
	No. de Cuota
	Saldo Inicial
	Cuota
	
	Interés
	1
	$28,000,000
	
	$0
	$428,665
	2
	$28,428,665
	
	$0
	$435,228
	3
	$28,863,893
	
	$0
	$441,891
	4
	$29,305,784$0
	$448,656
	5
	$29,754,440
	
	$0
	$455,525
	6
	$30,209,965
	
	$0
	$462,499
	7
	$30,672,463
	
	$0
	$469,579
	8
	$31,142,042
	
	$0
	$476,768
	9
	$31,618,811
	
	$0
	$484,067
	10
	$32,102,878
	
	$0
	$491,478
	11
	$32,594,356
	
	$0
	$499,002
	12
	$33,093,358
	
	$0
	$506,642
	13
14
	$33,600,000
$33,340,986
$33,078,006
$32,811,000
$32,539,907
$32,264,663
$31,985,206
$31,701,470
$31,413,390
$31,120,900
$30,823,932
$30,522,417
$30,216,287
$29,905,470
$29,589,894
$29,269,487
$28,944,175
$28,613,883
$28,278,534
$27,938,051
$27,592,355
$27,241,367
$26,885,005
$26,523,188
$26,155,831
$25,782,851
$25,404,160
$25,019,672
$24,629,297
$24,232,946
$23,830,527
$23,421,948
$23,007,113
$22,585,927
$22,158,293
$21,724,112
$21,283,284
$20,835,708
$20,381,279
$19,919,893
$19,451,444
$18,975,822
$18,492,920
$18,002,624
	$773,412
	$514,398
	
	
	$773,412
	$510,433
	15
16
	
	$773,412
	$506,407
	
	
	$773,412
	$502,319
	17
18
	
	$773,412
	$498,169
	
	
	$773,412
	$493,955
	19
20
	
	$773,412
	$489,677
	
	
	$773,412
	$485,333
	21
22
	
	$773,412
	$480,922
	
	
	$773,412
	$476,444
	23
24
	
	$773,412
	$471,898
	
	
	$773,412
	$467,282
	25
26
	
	$773,412
	$462,595
	
	
	$773,412
	$457,837
	27
28
	
	$773,412
	$453,006
	
	
	$773,412
	$448,100
	29
30
	
	$773,412
	$443,120
	
	
	$773,412
	$438,063
	31
32
	
	$773,412
	$432,929
	
	
	$773,412
	$427,717
	33
34
	
	$773,412
	$422,424
	
	
	$773,412
	$417,051
	35
36
	
	$773,412
	$411,595
	
	
	$773,412
	$406,056
	37
38
	
	$773,412
	$400,432
	
	
	$773,412
	$394,722
	39
40
	
	$773,412
	$388,924
	
	
	$773,412
	$383,038
	41
42
	
	$773,412
	$377,061
	
	
	$773,412
	$370,994
	43
44
	
	$773,412
	$364,833
	
	
	$773,412
	$358,578
	45
46
	
	$773,412
	$352,227
	
	
	$773,412
	$345,779
	47
48
	
	$773,412
	$339,232
	
	
	$773,412
	$332,585
	49
50
	
	$773,412
	$325,836
	
	
	$773,412
	$318,984
	51
52
	
	$773,412
	$312,027
	
	
	$773,412
	$304,963
	53
54
	
	$773,412
	$297,791
	
	
	$773,412
	$290,510
	55
56
	
	$773,412
	$283,117
	
	
	$773,412
	$275,611
	57
58
	$17,504,822
$16,999,399
$16,486,239
$15,965,222
$15,436,228
$14,899,136
$14,353,822
$13,800,159
$13,238,019
$12,667,274
$12,087,791
$11,499,436
$10,902,074
$10,295,566
$9,679,773
$9,054,553
$8,419,761
$7,775,250
$7,120,873
$6,456,477
$5,781,910
$5,097,016
$4,401,636
$3,695,610
$2,978,775
$2,250,966
$1,512,015
$761,750
	$773,412
	$267,990
	
	
	$773,412
	$260,252
	59
60
	
	$773,412
	$252,396
	
	
	$773,412
	$244,419
	61
62
	
	$773,412
	$236,320
	
	
	$773,412
	$228,098
	63
64
	
	$773,412
	$219,749
	
	
	$773,412
	$211,273
	65
66
	
	$773,412
	$202,667
	
	
	$773,412
	$193,929
	67
68
	
	$773,412
	$185,058
	
	
	$773,412
	$176,050
	69
70
	
	$773,412
	$166,905
	
	
	$773,412
	$157,620
	71
72
	
	$773,412
	$148,192
	
	
	$773,412
	$138,620
	73
74
	
	$773,412
	$128,902
	
	
	$773,412
	$119,035
	75
76
	
	$773,412
	$109,017
	
	
	$773,412
	$98,845
	77
78
	
	$773,412
	$88,518
	
	
	$773,412
	$78,033
	79
80
	
	$773,412
	$67,387
	
	
	$773,412
	$56,578
	81
82
	
	$773,412
	$45,603
	
	
	$773,412
	$34,461
	83
84
	
	$773,412
	$23,148
	
	
	$773,412
	$11,662
	
	
	
	rtante de des para
	
	
	
	
	RTO
	
	
	Abono
	Saldo Final
	
	-$428,665
	$28,428,665
	
	-$435,228
	$28,863,893
	
	-$441,891
	$29,305,784
	
	-$448,656
	$29,754,440
	
	-$455,525
	$30,209,965
	
	-$462,499
	$30,672,463
	
	-$469,579
	$31,142,042
	
	-$476,768
	$31,618,811
	
	-$484,067
	$32,102,878
	
	-$491,478
	$32,594,356
	
	-$499,002
	$33,093,358
	
	-$506,642
	$33,600,000
	
	$259,014
	$33,340,986
	$262,980
	$33,078,006
	$267,006
	$32,811,000
	$271,093
	$32,539,907
	$275,244
	$32,264,663
	$279,458
	$31,985,206
	$283,736
	$31,701,470
	$288,080
	$31,413,390
	$292,490
	$31,120,900
	$296,968
	$30,823,932
	$301,514
	$30,522,417
	$306,130
	$30,216,287
	$310,817
	$29,905,470
	$315,576
	$29,589,894
	$320,407
	$29,269,487
	$325,312
	$28,944,175
	$330,292
	$28,613,883
	$335,349
	$28,278,534
	$340,483
	$27,938,051
	$345,696
	$27,592,355
	$350,988
	$27,241,367
	$356,362
	$26,885,005
	$361,817
	$26,523,188
	$367,357
	$26,155,831
	$372,981
	$25,782,851
	$378,691
	$25,404,160
	$384,488
	$25,019,672
	$390,375
	$24,629,297
	$396,351
	$24,232,946
	$402,419
	$23,830,527
	$408,580
	$23,421,948
	$414,835
	$23,007,113
	$421,186
	$22,585,927
	$427,634
	$22,158,293
	$434,181
	$21,724,112
	$440,828
	$21,283,284
	$447,577
	$20,835,708
	$454,429
	$20,381,279
	$461,386
	$19,919,893
	$468,449
	$19,451,444
	$475,621
	$18,975,822
	$482,903
	$18,492,920
	$490,296
	$18,002,624
	$497,802
	$17,504,822
	$505,423
	$16,999,399
	
	$513,161
	$16,486,239
	
	$521,017
	$15,965,222
	
	$528,993
	$15,436,228
	
	$537,092
	$14,899,136
	
	$545,315
	$14,353,822
	
	$553,663
	$13,800,159
	
	$562,139
	$13,238,019
	
	$570,745
	$12,667,274
	
	$579,483
	$12,087,791
	
	$588,355
	$11,499,436
	
	$597,362
	$10,902,074
	
	$606,508
	$10,295,566
	
	$615,793
	$9,679,773
	
	$625,220
	$9,054,553
	
	$634,792
	$8,419,761
	
	$644,510
	$7,775,250
	
	$654,378
	$7,120,873
	
	$664,396
	$6,456,477
	
	$674,567
	$5,781,910
	
	$684,895
	$5,097,016
	
	$695,380
	$4,401,636
	
	$706,026
	$3,695,610
	
	$716,835
	$2,978,775
	
	$727,809
	$2,250,966
	
	$738,951
	$1,512,015
	
	$750,264
	$761,750
	
	$761,750
	$0
	
	
 (
Una empresa requiere solicitar financiación para llevar a cabo
 
establecimiento
 
de
 
crédito
 
que
 
le
 
ofrece
 
dos
 
alternativas
 
de
 
fin
Alternativa
 
1:
 
Una
 
cuota
 
que
 
se
 
va
 
incrementando
 
consta
Alternativa
 
2:
 
Una
 
cuota
 
que
 
se
 
va
 
reduciendo
 
en
 
un
 
2
 
%
El
 
gerente
 
financiero
 
considera
 
que
 
no
 
habrá
 
inconveniente
 
en
 
lo
 
único
 
que
 
le
 
preocupa
 
al
 
directivo
 
financiero
 
es
 
el
 
costo
 
del
𝑷
𝐴
1
 
=
Decisión
Tal
 
como
 
describe
 
y
 
requiere
 
el
 
gerente,
 
la
 
alternativa
 
permitir,
 
y
 
haciendo
 
que
 
el
 
valor
 
a
 
pagar
 
final
 
en
 
el
 
tota
ALTERNAT
 
TABLA
 
DE
 
AMORTIZACIÓN
 
DE
 
CUOTA
 
V
No.
 
de
 
Cuota
Saldo
 
Inicial
Cuota
1
$48,000,000
$1,241,362
2
$48,643,602
$1,289,362
3
$49,264,479
$1,337,362
4
$49,861,737
$1,385,362
5
$50,434,450
$1,433,362
6
$50,981,653
$1,481,362
7
$51,502,345
$1,529,362
8
$51,995,485
$1,577,362
9
$52,459,990
$1,625,362
10
$52,894,736
$1,673,362
11
$53,298,555
$1,721,362
12
$53,670,232
$1,769,362
13
$54,008,505
$1,817,362
)
f
	Capital (P)
Tasa (i) Plazo (n)
Gradiente Arimét. Primera Cuota (A1)
	$48,000,000
	
	3.93%
	
	57
	
	$48,000
	
	$1,241,362
	14
	$54,312,062
$54,579,539
$54,809,520
$55,000,533
$55,151,047
$55,259,471
$55,324,153
$55,343,375
$55,315,353
$55,238,229
$55,110,077
$54,928,893
$54,692,593
$54,399,014
$54,045,906
$53,630,932
$53,151,661
$52,605,569
$51,990,033
$51,302,324
$50,539,609
$49,698,941
$48,777,261
$47,771,387
$46,678,011
$45,493,699
$44,214,878
$42,837,839
$41,358,722
$39,773,521
$38,078,069
$36,268,036
$34,338,923
$32,286,054
$30,104,568
$27,789,415
$25,335,346
$22,736,905
$19,988,424
$17,084,009
$14,017,538
$10,782,646
$7,372,720
$3,780,886
	$1,865,362
	15
16
	
	$1,913,362
	
	
	$1,961,362
	17
18
	
	$2,009,362
	
	
	$2,057,362
	19
20
	
	$2,105,362
	
	
	$2,153,362
	21
22
	
	$2,201,362
	
	
	$2,249,362
	23
24
	
	$2,297,362
	
	
	$2,345,362
	25
26
	
	$2,393,362
	
	
	$2,441,362
	27
28
	
	$2,489,362
	
	
	$2,537,362
	29
30
	
	$2,585,362
	
	
	$2,633,362
	31
32
	
	$2,681,362
	
	
	$2,729,362
	33
34
	
	$2,777,362
	
	
	$2,825,362
	35
36
	
	$2,873,362
	
	
	$2,921,362
	37
38
	
	$2,969,362
	
	
	$3,017,362
	39
40
	
	$3,065,362
	
	
	$3,113,362
	41
42
	
	$3,161,362
	
	
	$3,209,362
	43
44
	
	$3,257,362
	
	
	$3,305,362
	45
46
	
	$3,353,362
	
	
	$3,401,362
	47
48
	
	$3,449,362
	
	
	$3,497,362
	49
50
	
	$3,545,362
	
	
	$3,593,362
	51
52
	
	$3,641,362
	
	
	$3,689,362
	53
54
	
	$3,737,362
	
	
	$3,785,362
	55
56
	
	$3,833,362
	
	
	$3,881,362
	57
	
	$3,929,362
Diligencie, únicamente, las celdas en color amarillo.
un proceso de actualización tecnológico de su sistema de planificación de recu anciación, cuyas características se enunciana continuación:
ntemente (bimestral) en un 0,1% del valor del préstamo y un plazo de 9,5 año cada bimestre y un plazo de 9,5 años. La tasa de interés periódica está dada
afrontar el compromiso con el establecimiento de crédito y que, incluso, podr inanciamiento. Con esta premisa en mente, debe tomar la decisión correspon
𝑔
− 𝑖
1 + 𝑖 𝑛 − 1
𝑖 1 + 𝑖 𝑛	−
1 + 𝑖 𝑛 − 1
𝑖 1 + 𝑖 𝑛
𝑛
1 + 𝑖 𝑛
$48,000,000
3.93%
57
2%
$2,948,716
mas conveniente es la 2. Haciendo un pago considerable en la prim l sea mucho menor con diferencia.
IVA 1
ARIABLE (AUMENTO CONSTANTE)
	Interés
	Abono
	Saldo Final
	$1,884,964
	-$643,602
	$48,643,602
	$1,910,238
	-$620,877
	$49,264,479
	$1,934,620
	-$597,258
	$49,861,737
	$1,958,074
	-$572,713
	$50,434,450
	$1,980,565
	-$547,203
	$50,981,653
	$2,002,054
	-$520,692
	$51,502,345
	$2,022,501
	-$493,140
	$51,995,485
	$2,041,867
	-$464,505
	$52,459,990
	$2,060,108
	-$434,746
	$52,894,736
	$2,077,181
	-$403,819
	$53,298,555
	$2,093,039
	-$371,677
	$53,670,232
	$2,107,634
	-$338,273
	$54,008,505
	$2,120,918
	-$303,557
	$54,312,062
	$2,132,839
	-$267,477
	$54,579,539
	$2,143,343
	-$229,981
	$54,809,520
	$2,152,374
	-$191,013
	$55,000,533
	$2,159,875
	-$150,514
	$55,151,047
	$2,165,786
	-$108,424
	$55,259,471
	$2,170,044
	-$64,682
	$55,324,153
	$2,172,584
	-$19,222
	$55,343,375
	$2,173,339
	$28,023
	$55,315,353
	$2,172,238
	$77,123
	$55,238,229
	$2,169,210
	$128,152
	$55,110,077
	$2,164,177
	$181,184
	$54,928,893
	$2,157,062
	$236,300
	$54,692,593
	$2,147,782
	$293,579
	$54,399,014
	$2,136,254
	$353,108
	$54,045,906
	$2,122,387
	$414,975
	$53,630,932
	$2,106,091
	$479,271
	$53,151,661
	$2,087,270
	$546,092
	$52,605,569
	$2,065,825
	$615,537
	$51,990,033
	$2,041,653
	$687,709
	$51,302,324
	$2,014,646
	$762,715
	$50,539,609
	$1,984,694
	$840,667
	$49,698,941
	$1,951,681
	$921,680
	$48,777,261
	$1,915,487
	$1,005,875
	$47,771,387
	$1,875,986
	$1,093,375
	$46,678,011
	$1,833,049
	$1,184,312
	$45,493,699
	$1,786,541
	$1,278,820
	$44,214,878
	$1,736,322
	$1,377,040
	$42,837,839
	$1,682,245
	$1,479,116
	$41,358,722
	$1,624,160
	$1,585,201
	$39,773,521
	$1,561,909
	$1,695,452
	$38,078,069
	$1,495,329
	$1,810,033
	$36,268,036
	$1,424,249
	$1,929,113
	$34,338,923
	$1,348,492
	$2,052,869
	$32,286,054
	$1,267,876
	$2,181,486
	$30,104,568
	$1,182,209
	$2,315,153
	$27,789,415
	$1,091,293
	$2,454,069
	$25,335,346
	$994,921
	$2,598,441
	$22,736,905
	$892,880
	$2,748,482
	$19,988,424
	$784,947
	$2,904,415
	$17,084,009
	$670,890
	$3,066,471
	$14,017,538
	$550,470
	$3,234,892
	$10,782,646
	$423,435
	$3,409,926
	$7,372,720
	$289,527
	$3,591,834
	$3,780,886
	$148,476
	$3,780,886
	$0
 (
1
)
	
rsos empresariales (ERP, Enterprise Resource Planning). Para los fines correspond
s. La tasa de interés periódica está dada a continuación. a continuación.
ía hacerse un abono anticipado para amortizar completamente la deuda en el cort diente:
Capital (P)
Tasa (i)	𝑷 𝐺 + 𝑖
Plazo (n)	𝐴	=
Gradiente Geomé.	𝑛
Primera Cuota (A1)	1 −	1 − 𝐺
era cuota aligerando la deuda dado que se lo pueden
ALTERNATIVA 2
TABLA DE AMORTIZACIÓN CUOTA VARIABLE (REDUCC
	
	
	
	
	No. de Cuota
	Saldo Inicial
	Cuota
	Interés
	1
	$48,000,000
	$2,948,716
	$1,884,964
	2
	$46,936,247
	$2,889,742
	$1,843,190
	3
	$45,889,695
	$2,831,947
	$1,802,092
	4
	$44,859,840
	$2,775,308
	$1,761,649
	5
	$43,846,181
	$2,719,802
	$1,721,843
	6
	$42,848,222
	$2,665,406
	$1,682,653
	7
	$41,865,469
	$2,612,098
	$1,644,060
	8
	$40,897,431
	$2,559,856
	$1,606,045
	9
	$39,943,621
	$2,508,659
	$1,568,589
	10
	$39,003,551
	$2,458,486
	$1,531,673
	11
	$38,076,738
	$2,409,316
	$1,495,277
	12
	$37,162,698
	$2,361,130
	$1,459,382
	13
	$36,260,951
	$2,313,907
	$1,423,970
	14
	$35,371,014
$34,492,407
$33,624,651
$32,767,263
$31,919,761
$31,081,664
$30,252,487
$29,431,742
$28,618,942
$27,813,596
$27,015,207
$26,223,279
$25,437,307
$24,656,786
$23,881,202
$23,110,039
$22,342,771
$21,578,869
$20,817,794
$20,059,002
$19,301,937
$18,546,039
$17,790,734
$17,035,440
$16,279,565
$15,522,503
$14,763,639
$14,002,343
$13,237,972
$12,469,869
$11,697,362
$10,919,762
$10,136,365
$9,346,448
$8,549,271
$7,744,072
$6,930,072
$6,106,469
$5,272,437
$4,427,130
$3,569,674
$2,699,172
$1,814,700
$915,303
	$2,267,629
$2,222,276
$2,177,831
$2,134,274
$2,091,589
$2,049,757
$2,008,762
$1,968,587
$1,929,215
$1,890,631
$1,852,818
$1,815,762
$1,779,446
$1,743,857
$1,708,980
$1,674,801
$1,641,305
$1,608,479
$1,576,309
$1,544,783
$1,513,887
$1,483,609
$1,453,937
$1,424,859
$1,396,361
$1,368,434
$1,341,065
$1,314,244
$1,287,959
$1,262,200
$1,236,956
$1,212,217
$1,187,973
$1,164,213
$1,140,929
$1,118,110
$1,095,748
$1,073,833
$1,052,356
$1,031,309
$1,010,683
$990,469
$970,660
$951,247
	$1,389,023
	15
16
	
	
	$1,354,520
	
	
	
	$1,320,443
	17
18
	
	
	$1,286,773
	
	
	
	$1,253,492
	19
20
	
	
	$1,220,579
	
	
	
	$1,188,018
	21
22
	
	
	$1,155,787
	
	
	
	$1,123,868
	23
24
	
	
	$1,092,242
	
	
	
	$1,060,889
	25
26
	
	
	$1,029,790
	
	
	
	$998,925
	27
28
	
	
	$968,274
	
	
	
	$937,817
	29
30
	
	
	$907,533
	
	
	
	$877,402
	31
32
	
	
	$847,404
	
	
	
	$817,516
	33
34
	
	
	$787,719
	
	
	
	$757,989
	35
36
	
	
	$728,304
	
	
	
	$698,644
	37
38
	
	
	$668,983
	
	
	
	$639,300
	39
40
	
	
	$609,570
	
	
	
	$579,769
	41
42
	
	
	$549,873
	
	
	
	$519,856
	43
44
	
	
	$489,693
	
	
	
	$459,356
	45
46
	
	
	$428,820
	
	
	
	$398,056
	47
48
	
	
	$367,036
	
	
	
	$335,731
	49
50
	
	
	$304,110
	
	
	
	$272,144
	51
52
	
	
	$239,802
	
	
	
	$207,049
	53
54
	
	
	$173,854
	
	
	
	$140,181
	55
56
	
	
	$105,997
	
	
	
	$71,263
	57
	
	
	$35,944
 (
ientes,
 
acude
 
a
 
un
o
 
plazo.
 
Por
 
tanto,
1
 
+ 
𝑖
−
𝑛
IÓN
 
VARIABLE)
)
	Abono
	Saldo Final
	
	$1,063,753
	$46,936,247
	
	$1,046,552
	$45,889,695
	
	$1,029,855
	$44,859,840
	
	$1,013,659
	$43,846,181
	
	$997,959
	$42,848,222
	
	$982,753
	$41,865,469
	
	$968,038
	$40,897,431
	
	$953,811
	$39,943,621
	
	$940,070
	$39,003,551
	
	$926,813
	$38,076,738
	
	$914,040
	$37,162,698
	
	$901,748
	$36,260,951
	
	$889,937
	$35,371,014
	
	$878,606
	$34,492,407
	$867,757
	$33,624,651
	$857,388
	$32,767,263
	$847,501
	$31,919,761
	$838,097
	$31,081,664
	$829,178
	$30,252,487
	$820,744
	$29,431,742
	$812,800
	$28,618,942
	$805,347
	$27,813,596
	$798,388
	$27,015,207
	$791,929
	$26,223,279
	$785,971
	$25,437,307
	$780,521
	$24,656,786
	$775,584
	$23,881,202
	$771,164
	$23,110,039
	$767,268
	$22,342,771
	$763,902
	$21,578,869
	$761,075
	$20,817,794
	$758,793
	$20,059,002
	$757,064
	$19,301,937
	$755,899
	$18,546,039
	$755,305
	$17,790,734
	$755,294
	$17,035,440
	$755,875
	$16,279,565
	$757,062
	$15,522,503
	$758,864
	$14,763,639
	$761,296
	$14,002,343
	$764,371
	$13,237,972
	$768,103
	$12,469,869
	$772,507
	$11,697,362
	$777,600
	$10,919,762
	$783,397
	$10,136,365
	$789,917
	$9,346,448
	$797,177
	$8,549,271
	$805,198
	$7,744,072
	$814,000
	$6,930,072
	$823,604
	$6,106,469
	$834,032
	$5,272,437
	$845,307
	$4,427,130
	$857,456
	$3,569,674
	$870,502
	$2,699,172
	$884,473
	$1,814,700
	$899,397
	$915,303
	$915,303
	$0
 (
Lo
 
mas conveniente
 
para
 
la
 
empresa
 
en
 
razon
 
del
 
costo
 
de
 
financiamiento
 
es
)
 (
Una
 
empresa
 
del
 
sector
 
turístico
 
desea
 
ampliar
 
su
 
infraest
Alternativa
 
1:
 
Financiación
 
de
 
cuota
 
fija
 
mensual
 
con
 
t
Alternativa 2: 
Financiación de cuota fija mensual en U
 
Debe
 
construir
 
las
 
tablas
 
de
 
amortización
 
correspondiente
)
 (
Decisión
)
	
Capital (P)
	
$45,000,000
	Tasa Fija (if)
	
	
	2.17%
	Plazo (n)
	120
	IPC Mes Anterior
	
	
	100.380
	Variación Mes Anterior (∆i)
	0.21%
	Tasa del Mes (i)
	
	
	2.38%
 (
IPC
 
Mes
 
Anterior
No.
 
de
 
Cuota
)
	1
	100.59
	2
	101.13
	3
	101.64
	4
	102.06
	5
	102.42
	6
	102.70
	7
	102.89
	8
	103.08
	9
	103.24
	10
	103.41
	11
	103.59
	12
	103.86
	13
	104.33
	14
	104.90
	15
	105.39
	16
	105.53
	17
	105.34
	18
	105.10
	19104.97
	20
	105.07
	21
	105.16
	22
	105.20
	23
	105.26
	24
	105.49
	25
	105.99
	26
	106.54
	27
	105.13
	28
	103.21
	29
	104.04
	30
	102.06
	31
	102.42
	32
	102.70
	33
	102.89
	34
	103.08
	35
	103.24
	36
	103.41
	37
	105.34
	38
	105.10
	39
	104.97
	40
	105.07
	41
	105.16
	42
	105.20
	43
	105.26
	44
	105.49
	45
	105.99
	46
	106.54
	47
	100.59
	48
	101.13
	49
	101.64
	50
	102.06
	51
	102.42
	52
	102.70
	53
	103.24
	54
	103.41
	55
	105.34
	56
	105.10
	57
	104.97
	58
	105.07
	59
	105.16
	60
	102.70
	61
	103.24
	62
	103.41
	63
	105.34
	64
	105.10
	65
	104.97
	66
	105.07
	67
	105.16
	68
	102.70
	69
	103.24
	70
	103.41
	71
	105.34
	72
	105.10
	73
	104.97
	74
	105.07
	75
	105.16
	76
	107.15
	77
	107.34
	78
	107.42
	79
	107.31
	80
	107.36
	81
	107.36
	82
	107.34
	83
	104.73
	84
	104.86
	85
	104.97
	86
	105.07
	87
	105.16
	88
	105.25
	89
	105.32
	90
	105.40
	91
	105.47
	92
	105.53
	93
	105.60
	94
	105.66
	95
	105.71
	96
	104.73
	97
	104.86
	98
	104.97
	99
	105.07
	100
	105.16
	
	101
	105.25
	
	102
	105.32
	
	103
	105.40
	
	104
	105.47
	
	105
	105.53
	
	106
	105.60
	
	107
	105.66
	
	108
	105.71
	
	109
	107.15
	
	110
	107.34
	
	111
	107.42
	
	112
	107.31
	
	113
	107.36
	
	114
	107.36
	
	115
	107.34
	
	116
	107.34
	
	117
	107.15
	
	118
	107.34
	
	119
	107.42
	
	120
	107.31
	
 (
𝐴
 
=
 
𝑃𝐴𝐺𝑂(
𝑖
;
 
𝑛
) (
𝑖
 
=
1 +
 
∆𝑖
1
 
+
 
i
f
−
 
1
) (
𝑛
)
	
	
	ructura de locaciones de alojamiento; para lo cual planea tomar un crédito a larg asa indexada a IPC, la cual se propone a continuación, por un plazo de 10 años. VR más la tasa fija, la cual se propone a continuación, por un plazo de 10 años. T
s y tomar una decisión en razón del costo de financiamiento.
	
	tomar la alternativa 1 dado que el costo a pagar por intereses es mucho menor a la segunda opción, reduci
	
𝑖 =	1 + ∆𝑖
	1 + if	− 1
	
	𝐴 = 𝑃𝐴𝐺𝑂(𝑖;
	
	ALTERNATIVA 1
	TABLA DE AMORTIZACIÓN CUOTA FIJA CON TASA INDEXADA
	
	Costo Periódico
	Variación Mes Ant
	Tasa del Mes
	Saldo Inicial
	Cuota
	
	Deuda
	-$45,000,000
	0.21%
	2.38%
	$45,000,000
	$1,140,198
	0.54%
	
	$44,932,511
	
	
	2.72%
	
	$1,272,468
	0.50%
	
	$44,880,011
	
	
	2.68%
	
	$1,257,705
	0.41%
	
	$44,824,422
	
	
	2.59%
	
	$1,221,853
	0.36%
	
	$44,763,003
	
	
	2.53%
	
	$1,198,716
	0.27%
	
	$44,696,961
	
	
	2.44%
	
	$1,163,067
	0.19%
	
	$44,624,193
	
	
	2.36%
	
	$1,133,301
	0.18%
	
	$44,545,058
	
	
	2.35%
	
	$1,128,085
	0.16%
	
	$44,463,204
	
	
	2.33%
	
	$1,120,412
	0.16%
	
	$44,378,143
	
	
	2.33%
	
	$1,122,815
	0.17%
	
	$44,291,513
	
	
	2.34%
	
	$1,126,442
	0.26%
	
	$44,203,487
	
	
	2.43%
	
	$1,159,879
	0.45%
	2.63%
	$44,119,059
	$1,233,516
	0.55%
	
	$44,043,988
	
	
	2.73%
	
	$1,274,306
	0.46%
	
	$43,972,698
	
	
	2.64%
	
	$1,239,387
	0.13%
	
	$43,894,471
	
	
	2.30%
	
	$1,112,553
	-0.18%
	
	$43,792,537
	
	
	1.99%
	
	$998,919
	-0.23%
	
	$43,663,316
	
	
	1.93%
	
	$979,666
	-0.13%
	
	$43,526,645
	
	
	2.04%
	
	$1,016,636
	0.10%
	
	$43,396,671
	
	
	2.27%
	
	$1,099,151
	0.08%
	
	$43,282,836
	
	
	2.25%
	
	$1,092,183
	0.04%
	
	$43,164,922
	
	
	2.21%
	
	$1,076,154
	0.06%
	
	$43,040,782
	
	
	2.23%
	
	$1,084,092
	0.22%
	
	$42,915,714
	
	
	2.39%
	
	$1,139,938
	0.47%
	
	$42,800,031
	
	
	2.65%
	
	$1,234,766
	0.52%
	
	$42,699,857
	
	
	2.69%
	
	$1,250,255
	-1.32%
	
	$42,599,771
	
	
	0.82%
	
	$651,216
	-1.83%
	
	$42,296,894
	
	
	0.30%
	
	$522,058
	0.80%
	
	$41,902,059
	
	
	2.99%
	
	$1,341,504
	-1.90%
	
	$41,812,705
	
	
	0.22%
	
	$508,034
	0.36%
	
	$41,397,628
	
	
	2.53%
	
	$1,171,070
	0.27%
	
	$41,274,076
	
	
	2.44%
	
	$1,140,307
	0.19%
	
	$41,140,573
	
	
	2.36%
	
	$1,114,705
	0.18%
	
	$40,997,740
	
	
	2.35%
	
	$1,110,232
	0.16%
	
	$40,850,424
	
	
	2.33%
	
	$1,103,670
	0.16%
	
	$40,697,980
	
	
	2.33%
	
	$1,105,719
	1.87%
	
	$40,542,518
	
	
	4.08%
	
	$1,712,512
	-0.23%
	
	$40,482,826
	
	
	1.93%
	
	$982,515
	-0.13%
	
	$40,281,901
	
	
	2.04%
	
	$1,014,746
	0.10%
	
	$40,087,719
	
	
	2.27%
	
	$1,086,485
	0.08%
	
	$39,911,421
	
	
	2.25%
	
	$1,080,442
	0.04%
	
	$39,729,360
	
	
	2.21%
	
	$1,066,576
	0.06%
	
	$39,539,026
	
	
	2.23%
	
	$1,073,425
	0.22%
	
	$39,346,600
	
	
	2.39%
	
	$1,121,483
	0.47%
	
	$39,164,189
	
	
	2.65%
	
	$1,202,894
	0.52%
	
	$38,999,505
	
	
	2.69%
	
	$1,216,162
	-5.58%
	
	$38,833,838
	
	
	-3.53%
	
	$103,003
	0.54%
	
	$37,358,883
	
	
	2.72%
	
	$1,181,492
	0.50%
	
	$37,191,727
	
	
	2.68%
	
	$1,170,739
	0.41%
	
	$37,017,172
	
	
	2.59%
	
	$1,144,790
	0.36%
	
	$36,830,699
	
	
	2.53%
	
	$1,128,151
	0.27%
	
	$36,634,504
	
	
	2.44%
	
	$1,102,681
	0.53%
	
	$36,425,454
	
	
	2.71%
	
	$1,177,594
	0.16%
	
	$36,233,968
	
	
	2.33%
	
	$1,075,021
	1.87%
	
	$36,004,974
	
	
	4.08%
	
	$1,580,964
	-0.23%
	
	$35,891,845
	
	
	1.93%
	
	$973,967
	-0.13%
	2.04%
	$35,610,832
	$1,000,709
	0.10%
	
	$35,335,535
	
	
	2.27%
	
	$1,059,923
	0.08%
	
	$35,077,900
	
	
	2.25%
	
	$1,054,958
	-2.34%
	
	$34,812,524
	
	
	-0.23%
	
	$531,526
	0.53%
	
	$34,202,130
	
	
	2.71%
	
	$1,159,352
	0.16%
	
	$33,968,697
	
	
	2.33%
	
	$1,066,344
	1.87%
	
	$33,695,488
	
	
	4.08%
	
	$1,523,792
	-0.23%
	
	$33,545,378
	
	
	1.93%
	
	$975,699
	-0.13%
	
	$33,217,330
	
	
	2.04%
	
	$999,880
	0.10%
	
	$32,894,105
	
	
	2.27%
	
	$1,053,234
	0.08%
	
	$32,587,728
	
	
	2.25%
	
	$1,048,774
	-2.34%
	
	$32,272,483
	
	
	-0.23%
	
	$572,400
	0.53%
	
	$31,626,970
	
	
	2.71%
	
	$1,140,569
	0.16%
	
	$31,342,605
	
	
	2.33%
	
	$1,057,798
	1.87%
	
	$31,016,625
	
	
	4.08%
	
	$1,462,860
	-0.23%
	
	$30,818,237
	
	
	1.93%
	
	$978,289
	-0.13%
	
	$30,434,946
	
	
	2.04%
	
	$999,731
	0.10%
	
	$30,055,191
	
	
	2.27%
	
	$1,046,825
	0.08%
	
	$29,690,766
	
	
	2.25%
	
	$1,042,904
	1.90%
	
	$29,316,182
	
	
	4.10%
	
	$1,438,419
	0.18%
	
	$29,080,682
	
	
	2.35%
	
	$1,067,355
	0.07%
	
	$28,696,399
	
	
	2.24%
	
	$1,046,069
	-0.11%
	
	$28,292,518
	
	
	2.06%
	
	$1,012,804
	0.05%
	
	$27,862,155
	
	
	2.22%
	
	$1,041,226
	0.00%
	
	$27,438,081
	
	
	2.17%
	
	$1,033,249
	-0.02%
	
	$27,000,369
	
	
	2.15%
	
	$1,029,321
	-2.43%
	
	$26,551,021
	
	
	-0.32%
	
	$656,493
	0.12%
	
	$25,810,620
	
	
	2.29%
	
	$1,041,698
	0.11%
	
	$25,359,732
	
	
	2.28%
	
	$1,039,670
	0.10%
	
	$24,897,411
	
	
	2.26%
	
	$1,037,795
	0.09%
	
	$24,423,518
	
	
	2.26%
	
	$1,036,315
	0.08%
	
	$23,938,053
	
	
	2.25%
	
	$1,035,086
	0.07%
	
	$23,440,931
	
	
	2.24%
	
	$1,034,248
	0.07%
	
	$22,932,148
	
	
	2.24%
	
	$1,033,735
	0.07%
	
	$22,411,655
	
	
	2.23%
	
	$1,033,277
	0.06%
	
	$21,879,239
	
	
	2.23%
	
	$1,032,899
	0.06%
	
	$21,334,694
	
	
	2.23%
	
	$1,032,496
	0.06%
	
	$20,777,747
	
	
	2.23%
	
	$1,032,058
	0.05%
	
	$20,208,111
	
	
	2.22%
	
	$1,031,295
	-0.93%
	
	$19,625,317
	
	
	1.22%
	
	$915,281
	0.12%
	
	$18,949,001
	
	
	2.29%
	
	$1,034,955
	0.11%
	
	$18,347,792
	
	
	2.28%
	
	$1,033,576
	0.10%
	
	$17,731,929
	
	
	2.26%
	
	$1,032,319
	0.09%
	
	$17,101,221
	
	
	2.26%
	
	$1,031,344
	0.08%
	2.25%
	$16,455,579
	$1,030,548
	0.07%
	
	$15,794,841
	
	
	2.24%
	
	$1,030,015
	0.07%
	
	$15,118,892
	
	
	2.24%
	
	$1,029,695
	0.07%
	
	$14,427,571
	
	
	2.23%
	
	$1,029,416
	0.06%
	
	$13,720,585
	
	
	2.23%
	
	$1,029,192
	0.06%
	
	$12,997,643
	
	
	2.23%
	
	$1,028,959
	0.06%
	
	$12,258,401
	
	
	2.23%
	
	$1,028,712
	0.05%
	
	$11,502,508
	
	
	2.22%
	
	$1,028,297
	1.36%
	
	$10,729,498
	
	
	3.56%
	
	$1,114,077
	0.18%
	
	$9,997,099
	
	
	2.35%
	
	$1,041,862
	0.07%
	
	$9,190,057
	
	
	2.24%
	
	$1,035,872
	-0.11%
	
	$8,359,847
	
	
	2.06%
	
	$1,027,079
	0.05%
	
	$7,504,868
	
	
	2.22%
	
	$1,034,004
	0.00%
	
	$6,637,098
	
	
	2.17%
	
	$1,032,242
	-0.02%
	
	$5,748,913
	
	
	2.15%
	
	$1,031,462
	0.00%
	
	$4,840,938
	
	
	2.17%
	
	$1,032,019
	-0.17%
	
	$3,913,806
	
	
	1.99%
	
	$1,027,563
	0.18%
	
	$2,964,056
	
	
	2.35%
	
	$1,034,793
	0.07%
	
	$1,998,886
	
	
	2.24%
	
	$1,033,116
	-0.11%
	
	$1,010,502
	
	
	2.06%
	
	$1,031,305
	
 (
− 
𝑗
 
+ 1;
 
−
𝑃
;
 
0;
 
0)
)
	Diligencie, únicamente, las celdas en color amarillo.o plazo, el cuál puede ser financiado en cuota fija con tasa de interés indexad
enga en cuenta un valor de UVR de 280 al inicio.
	
	endo costos.
	
	
	− 𝑗 + 1; −𝑃; 0; 0)
	
	
	
	
	
	
	2.27%
	Costo Anual
	30.96%
	
	Interés
	Abono
	Saldo Final
	
	
	$1,072,709
	$67,489
	$44,932,511
	
	$1,219,968
	$52,500
	$44,880,011
	
	$1,202,116
	$55,589
	$44,824,422
	
	$1,160,434
	$61,419
	$44,763,003
	
	$1,132,674
	$66,042
	$44,696,961
	
	$1,090,300
	$72,768
	$44,624,193
	
	$1,054,166
	$79,136
	$44,545,058
	
	$1,046,232
	$81,853
	$44,463,204
	
	$1,035,352
	$85,061
	$44,378,143
	
	$1,036,185
	$86,630
	$44,291,513
	
	$1,038,416
	$88,026
	$44,203,487
	
	$1,075,452
	$84,428
	$44,119,059
	
	$1,158,445
	$75,071
	$44,043,988
	$1,203,015
	$71,291
	$43,972,698
	$1,161,160
	$78,227
	$43,894,471
	$1,010,620
	$101,933
	$43,792,537
	$869,698
	$129,221
	$43,663,316
	$842,995
	$136,671
	$43,526,645
	$886,662
	$129,975
	$43,396,671
	$985,316
	$113,835
	$43,282,836
	$974,269
	$117,914
	$43,164,922
	$952,014
	$124,140
	$43,040,782
	$959,023
	$125,068
	$42,915,714
	$1,024,254
	$115,684
	$42,800,031
	$1,134,592
	$100,174
	$42,699,857
	$1,150,169
	$100,086
	$42,599,771
	$348,338
	$302,878
	$42,296,894
	$127,223
	$394,835
	$41,902,059
	$1,252,149
	$89,354
	$41,812,705
	$92,957
	$415,077
	$41,397,628
	$1,047,517
	$123,553
	$41,274,076
	$1,006,805
	$133,502
	$41,140,573
	$971,871
	$142,833
	$40,997,740
	$962,916
	$147,316
	$40,850,424
	$951,226
	$152,444
	$40,697,980
	$950,257
	$155,462
	$40,542,518
	$1,652,819
	$59,692
	$40,482,826
	$781,590
	$200,925
	$40,281,901
	$820,564
	$194,182
	$40,087,719
	$910,187
	$176,298
	$39,911,421
	$898,380
	$182,062
	$39,729,360
	$876,242
	$190,333
	$39,539,026
	$880,998
	$192,426
	$39,346,600
	$939,072
	$182,411
	$39,164,189
	$1,038,209
	$164,684
	$38,999,505
	$1,050,496
	$165,666
	$38,833,838
	-$1,371,952
	$1,474,955
	$37,358,883
	$1,014,336
	$167,157
	$37,191,727
	$996,184
	$174,555
	$37,017,172
	$958,316
	$186,473
	$36,830,699
	$931,957
	$196,195
	$36,634,504
	$893,631
	$209,050
	$36,425,454
	$986,108
	$191,486
	$36,233,968
	$846,027
	$228,994
	$36,004,974
	$1,467,835
	$113,129
	$35,891,845
	$692,953
	$281,013
	$35,610,832
	$725,412
	$275,297
	$35,335,535
	$802,289
	$257,634
	$35,077,900
	$789,581
	$265,377
	$34,812,524
	-$78,867
	$610,393
	$34,202,130
	$925,919
	$233,433
	$33,968,697
	$793,135
	$273,209
	$33,695,488
	$1,373,682
	$150,110
	$33,545,378
	$647,651
	$328,048
	$33,217,330
	$676,655
	$323,225
	$32,894,105
	$746,857
	$306,378
	$32,587,728
	$733,529
	$315,245
	$32,272,483
	-$73,113
	$645,513
	$31,626,970
	$856,204
	$284,365
	$31,342,605
	$731,818
	$325,980
	$31,016,625
	$1,264,472
	$198,388
	$30,818,237
	$594,999
	$383,290
	$30,434,946
	$619,976
	$379,755
	$30,055,191
	$682,400
	$364,425
	$29,690,766
	$668,320
	$374,584
	$29,316,182
	$1,202,919
	$235,500
	$29,080,682
	$683,071
	$384,284
	$28,696,399
	$642,189
	$403,881
	$28,292,518
	$582,441
	$430,363
	$27,862,155
	$617,151
	$424,074
	$27,438,081
	$595,538
	$437,712
	$27,000,369
	$579,973
	$449,348
	$26,551,021
	-$83,908
	$740,401
	$25,810,620
	$590,811
	$450,887
	$25,359,732
	$577,348
	$462,321
	$24,897,411
	$563,902
	$473,893
	$24,423,518
	$550,849
	$485,465
	$23,938,053
	$537,964
	$497,122
	$23,440,931
	$525,465
	$508,783
	$22,932,148
	$513,243
	$520,492
	$22,411,655
	$500,860
	$532,417
	$21,879,239
	$488,354
	$544,545
	$21,334,694
	$475,549
	$556,947
	$20,777,747
	$462,423
	$569,635
	$20,208,111
	$448,500
	$582,795
	$19,625,317
	$238,965
	$676,316
	$18,949,001
	$433,747
	$601,208
	$18,347,792
	$417,712
	$615,863
	$17,731,929
	$401,611
	$630,709
	$17,101,221
	$385,702
	$645,642
	$16,455,579
	$369,809
	$660,738
	$15,794,841
	
	$354,066
	$675,949
	$15,118,892
	
	$338,375
	$691,321
	$14,427,571
	
	$322,430
	$706,986
	$13,720,585
	
	$306,249
	$722,942
	$12,997,643
	
	$289,717
	$739,242
	$12,258,401
	
	$272,819
	$755,893
	$11,502,508
	
	$255,287
	$773,010
	$10,729,498
	
	$381,679
	$732,399
	$9,997,099
	
	$234,820
	$807,042
	$9,190,057
	
	$205,662
	$830,210
	$8,359,847
	
	$172,099
	$854,980
	$7,504,868
	
	$166,234
	$867,770
	$6,637,098
	
	$144,057
	$888,185
	$5,748,913
	
	$123,488
	$907,974
	$4,840,938
	
	$104,887
	$927,132
	$3,913,806
	
	$77,813
	$949,750
	$2,964,056
	
	$69,622
	$965,170
	$1,998,886
	
	$44,733
	$988,383
	$1,010,502
	
	$20,803
	$1,010,502
	$0
	
	
	
	
	a al IPC o cuota fija en UVRs. Así las cosas, el banco propone las s
	
	$45,000,000
	Capital (P)
	
	UVR + ? EMV (i)
	2.17%
	
	
	Plazo (n)
	120
	
	
280
	
UVR
	
	Capital en UVR (PUVR)
	160,714 UVRs
	
	
	Cuota en UVR (A)
	3,770 UVRs
	
	
	ALTERNATIVA 2
	TABLA DE AMORTIZACIÓN EN PE
	
	No. de Cuota
	Precio UVR
	Saldo Inicial
	
	Deuda
	1
	$280.000
	$45,000,000
	2
	$281.503
	
	
	
	$45,160,522
	3
	$282.913
	
	
	
	$45,303,557
	4
	$284.082
	
	
	
	$45,405,392
	5
	$285.094
	
	
	
	$45,479,505
	6
	$285.855
	
	
	
	$45,511,210
	7
	$286.402
	
	
	
	$45,506,583
	8
	$286.912
	
	
	
	$45,493,727
	9
	$287.367
	
	
	
	$45,469,689
	10
	$287.840
	
	
	
	$45,446,192
	11
	$288.341
	
	
	
	$45,424,621
	12
	$289.093
	
	
	
	$45,439,890
	13
	$290.392
	$45,538,228
	14
	$291.997
	
	
	
	$45,681,217
	15
	$293.351
	
	
	
	$45,781,545
	16
	$293.741
	
	
	
	$45,728,196
	17
	$293.222
	
	
	
	$45,530,878
	18
	$292.544
	
	
	
	$45,307,025
	19
	$292.173
	
	
	
	$45,128,449
	20
	$292.470
	
	
	
	$45,050,461
	21
	$292.711
	
	
	
	$44,960,985
	22
	$292.823
	
	
	
	$44,848,659
	23
	$292.999
	
	
	
	$44,743,347
	24
	$293.630
	
	
	
	$44,704,225
	25
	$295.022
	
	
	
	$44,777,052
	26
	$296.543
	
	
	
	$44,865,193
	27
	$292.628
	
	
	
	$44,128,837
	28
	$287.283
	
	
	
	$43,178,500
	29
	$289.594
	
	
	
	$43,377,012
	30
	$284.082
	
	
	
	$42,402,445
	31
	$285.094
	
	
	
	$42,400,572
	32
	$285.855
	
	
	
	$42,357,172
	33
	$286.402
	
	
	
	$42,278,036
	34
	$286.912
	
	
	
	$42,189,351
	35
	$287.367
	
	
	
	$42,088,370
	36
	$287.840
	
	
	
	$41,985,922
	37
	$293.222
	
	
	
	$42,592,127
	38
	$292.544
	
	
	
	$42,311,537
	39
	$292.173
	
	
	
	$42,071,942
	40
	$292.470
	
	
	
	$41,924,556
	41
	$292.711
	
	
	
	$41,764,718
	42
	$292.823
	
	
	
	$41,581,897
	43
	$292.999
	
	
	
	$41,403,796
	44
	$293.630
	
	
	
	$41,284,970
	45
	$295.022
	
	
	
	$41,267,156
	46
	$296.543
	
	
	
	$41,260,753
	47
	$280.000
	
	
	
	$38,747,450
	48
	$281.503
	
	
	
	$38,738,208
	49
	$282.913
	
	
	
	$38,709,220
	50
	$284.082
	
	
	
	$38,640,338
	51
	$285.094
	
	
	
	$38,543,270
	52
	$285.855
	
	
	
	$38,405,779
	53
	$287.367
	
	
	
	$38,362,113
	54
	$287.840
	
	
	
	$38,172,660
	55
	$293.222
	
	
	
	$38,623,409
	56
	$292.544
	
	
	
	$38,266,196
	57
	$292.173
	$37,944,195
	58
	$292.470
	
	
	
	$37,703,089
	59
	$292.711
	
	
	
	$37,448,228
	60
	$285.855
	
	
	
	$36,285,706
	61
	$287.367
	
	
	
	$36,184,646
	62
	$287.840
	
	
	
	$35,944,351
	63
	$293.222
	
	
	
	$36,304,257
	64
	$292.544
	
	
	
	$35,902,269
	65
	$292.173
	
	
	
	$35,532,113
	66
	$292.470
	
	
	
	$35,236,242
	67
	$292.711
	
	
	
	$34,925,853
	68
	$285.855
	
	
	
	$33,769,046
	69
	$287.367
	
	
	
	$33,599,855
	70
	$287.840
	
	
	
	$33,299,208
	71
	$293.222
	
	
	
	$33,551,278
	72
	$292.544
	
	
	
	$33,096,139
	73
	$292.173
	
	
	
	$32,668,821
	74
	$292.470
	
	
	
	$32,307,938
	75
	$292.711
	
	
	
	$31,931,636
	76
	$298.260
	
	
	
	$32,117,423
	77
	$298.792
	
	
	
	$31,745,367
	78
	$299.000
	
	
	
	$31,328,546
	79
	$298.684
	
	
	
	$30,847,439
	80
	$298.825
	
	
	
	$30,404,132
	81
	$298.836
	
	
	
	$29,937,422
	82
	$298.782
	
	
	
	$29,454,064
	83
	$291.521
	
	
	
	$28,261,934
	84
	$291.870
	
	
	
	$27,808,493
	85
	$292.184
	
	
	
	$27,340,043
	86
	$292.465
	
	
	
	$26,856,662
	87
	$292.719
	
	
	
	$26,358,825
	88
	$292.950
	
	
	
	$25,846,756
	89
	$293.165
	
	
	
	$25,320,906
	90
	$293.370
	
	
	
	$24,781,592
	91
	$293.566
	
	
	
	$24,228,660
	92
	$293.754
	
	
	
	$23,661,989
	93
	$293.933
	
	
	
	$23,081,274
	94
	$294.103$22,486,184
	95
	$294.254
	
	
	
	$21,875,892
	96
	$291.521
	
	
	
	$21,043,213
	97
	$291.870
	
	
	
	$20,424,534
	98
	$292.184
	
	
	
	$19,787,979
	99
	$292.465
	
	
	
	$19,133,551
	100
	$292.719
	
	
	
	$18,461,526
	101
	$292.950
	$17,771,980
	102
	$293.165
	
	
	
	$17,065,121
	103
	$293.370
	
	
	
	$16,341,035
	104
	$293.566
	
	
	
	$15,599,471
	105
	$293.754
	
	
	
	$14,840,194
	106
	$293.933
	
	
	
	$14,062,840
	107
	$294.103
	
	
	
	$13,267,039
	108
	$294.254
	
	
	
	$12,452,137
	109
	$298.260
	
	
	
	$11,770,644
	110
	$298.792
	
	
	
	$10,920,666
	111
	$299.000
	
	
	
	$10,037,814
	112
	$298.684
	
	
	
	$9,118,407
	113
	$298.825
	
	
	
	$8,193,798
	114
	$298.836
	
	
	
	$7,245,018
	115
	$298.782
	
	
	
	$6,274,223
	116
	$298.782
	
	
	
	$5,283,746
	117
	$298.260
	
	
	
	$4,264,344
	118
	$298.792
	
	
	
	$3,238,052
	119
	$299.000
	
	
	
	$2,183,274
	120
	$298.684
	
	
	
	$1,102,170
	
 (
𝑛
𝑒
1
 
+
 
𝑖
𝑝
𝑖
𝑝
𝐴
𝑒
 
=
 
𝑃
𝑈𝑉𝑅
𝑛
𝑒
1
 
+
 
𝑖
𝑝
−
 
1
)
	
	
	
	iguientes alternativas:
	
	
1 + 𝑖	𝑛𝑒 𝑖
𝐴	= 𝑃	𝑝	𝑝
𝑒	𝑈𝑉𝑅	1 + 𝑖	𝑛𝑒	− 1
𝑝
	
	SOS (CON UNIDAD DE CUENTA VARIABLE)
	Costo Periódico
	
	Costo Anual
	
	Cuota
	Interés
	Abono
	Saldo Final
	-$45,000,000
	
	$1,055,612
	$975,000
	$80,612
	$44,919,388
	$1,061,278
	$978,478
	$82,800
	$45,077,722
	$1,066,595
	$981,577
	$85,018
	$45,218,538
	$1,071,003
	$983,783
	$87,219
	$45,318,173
	$1,074,815
	$985,389
	$89,426
	$45,390,079
	$1,077,684
	$986,076
	$91,607
	$45,419,603
	$1,079,747
	$985,976
	$93,771
	$45,412,811
	$1,081,671
	$985,697
	$95,974
	$45,397,753
	$1,083,385
	$985,177
	$98,209
	$45,371,481
	$1,085,169
	$984,667
	$100,502
	$45,345,690
	$1,087,058
	$984,200
	$102,858
	$45,321,763
	$1,089,891
	$984,531
	$105,360
	$45,334,530
	$1,094,789
	$986,662
	$108,127
	$45,430,101
	$1,100,840
	$989,760
	$111,080
	$45,570,136
	$1,105,947
	$991,933
	$114,014
	$45,667,531
	$1,107,416
	$990,778
	$116,639
	$45,611,557
	$1,105,457
	$986,502
	$118,955
	$45,411,923
	$1,102,904
	$981,652
	$121,252
	$45,185,774
	$1,101,505
	$977,783
	$123,722
	$45,004,728
	$1,102,624
	$976,093
	$126,531
	$44,923,931
	$1,103,533
	$974,155
	$129,379
	$44,831,606
	$1,103,953
	$971,721
	$132,232
	$44,716,427
	$1,104,618
	$969,439
	$135,179
	$44,608,168
	$1,106,996
	$968,592
	$138,405
	$44,565,820
	$1,112,243
	$970,169
	$142,074
	$44,634,978
	$1,117,980
	$972,079
	$145,901
	$44,719,292
	$1,103,219
	$956,125
	$147,094
	$43,981,743
	$1,083,070
	$935,534
	$147,536
	$43,030,964
	$1,091,780
	$939,835
	$151,945
	$43,225,067
	$1,071,003
	$918,720
	$152,283
	$42,250,162
	$1,074,815
	$918,679
	$156,136
	$42,244,436
	$1,077,684
	$917,739
	$159,945
	$42,197,228
	$1,079,747
	$916,024
	$163,723
	$42,114,313
	$1,081,671
	$914,103
	$167,569
	$42,021,783
	$1,083,385
	$911,915
	$171,471
	$41,916,899
	$1,085,169
	$909,695
	$175,474
	$41,810,447
	$1,105,457
	$922,829
	$182,628
	$42,409,499
	$1,102,904
	$916,750
	$186,154
	$42,125,384
	$1,101,505
	$911,559
	$189,946
	$41,881,996
	$1,102,624
	$908,365
	$194,259
	$41,730,298
	$1,103,533
	$904,902
	$198,631
	$41,566,086
	$1,103,953
	$900,941
	$203,012
	$41,378,885
	$1,104,618
	$897,082
	$207,536
	$41,196,261
	$1,106,996
	$894,508
	$212,489
	$41,072,481
	$1,112,243
	$894,122
	$218,122
	$41,049,034
	$1,117,980
	$893,983
	$223,997
	$41,036,756
	$1,055,612
	$839,528
	$216,083
	$38,531,366
	$1,061,278
	$839,328
	$221,950
	$38,516,258
	$1,066,595
	$838,700
	$227,895
	$38,481,325
	$1,071,003
	$837,207
	$233,795
	$38,406,543
	$1,074,815
	$835,104
	$239,711
	$38,303,559
	$1,077,684
	$832,125
	$245,558
	$38,160,220
	$1,083,385
	$831,179
	$252,206
	$38,109,907
	$1,085,169
	$827,074
	$258,095
	$37,914,565
	$1,105,457
	$836,841
	$268,617
	$38,354,792
	$1,102,904
	$829,101
	$273,803
	$37,992,393
	$1,101,505
	$822,124
	$279,380
	$37,664,814
	$1,102,624
	$816,900
	$285,724
	$37,417,365
	$1,103,533
	$811,378
	$292,155
	$37,156,073
	$1,077,684
	$786,190
	$291,493
	$35,994,212
	$1,083,385
	$784,001
	$299,385
	$35,885,261
	$1,085,169
	$778,794
	$306,375
	$35,637,977
	$1,105,457
	$786,592
	$318,865
	$35,985,392
	$1,102,904
	$777,882
	$325,021
	$35,577,248
	$1,101,505
	$769,862
	$331,642
	$35,200,471
	$1,102,624
	$763,452
	$339,172
	$34,897,070
	$1,103,533
	$756,727
	$346,807
	$34,579,047
	$1,077,684
	$731,663
	$346,021
	$33,423,025
	$1,083,385
	$727,997
	$355,388
	$33,244,466
	$1,085,169
	$721,483
	$363,686
	$32,935,522
	$1,105,457
	$726,944
	$378,513
	$33,172,765
	$1,102,904
	$717,083
	$385,821
	$32,710,318
	$1,101,505
	$707,824
	$393,680
	$32,275,141
	$1,102,624
	$700,005
	$402,619
	$31,905,320
	$1,103,533
	$691,852
	$411,681
	$31,519,955
	$1,124,451
	$695,877
	$428,574
	$31,688,849
	$1,126,457
	$687,816
	$438,640
	$31,306,727
	$1,127,242
	$678,785
	$448,457
	$30,880,090
	$1,126,050
	$668,361
	$457,689
	$30,389,750
	$1,126,583
	$658,756
	$467,827
	$29,936,305
	$1,126,625
	$648,644
	$477,981
	$29,459,441
	$1,126,419
	$638,171
	$488,248
	$28,965,816
	$1,099,047
	$612,342
	$486,705
	$27,775,229
	$1,100,363
	$602,517
	$497,846
	$27,310,647
	$1,101,547
	$592,368
	$509,180
	$26,830,864
	$1,102,606
	$581,894
	$520,712
	$26,335,950
	$1,103,564
	$571,108
	$532,456
	$25,826,368
	$1,104,435
	$560,013
	$544,422
	$25,302,334
	$1,105,246
	$548,620
	$556,626
	$24,764,280
	$1,106,019
	$536,935
	$569,084
	$24,212,508
	$1,106,756
	$524,954
	$581,802
	$23,646,858
	$1,107,465
	$512,676
	$594,788
	$23,067,201
	$1,108,140
	$500,094
	$608,046
	$22,473,228
	$1,108,779
	$487,201
	$621,579
	$21,864,605
	$1,109,352
	$473,978
	$635,374
	$21,240,518
	$1,099,047
	$455,936
	$643,110
	$20,400,103
	$1,100,363
	$442,532
	$657,831
	$19,766,703
	$1,101,547
	$428,740
	$672,808
	$19,115,171
	$1,102,606
	$414,560
	$688,046
	$18,445,504
	$1,103,564
	$400,000
	$703,564
	$17,757,961
	$1,104,435
	$385,060
	$719,376
	$17,052,604
	$1,105,246
	$369,744
	$735,502
	$16,329,619
	$1,106,019
	$354,056
	$751,963
	$15,589,072
	$1,106,756
	$337,989
	$768,768
	$14,830,703
	$1,107,465
	$321,538
	$785,927
	$14,054,266
	$1,108,140
	$304,695
	$803,445
	$13,259,395
	$1,108,779
	$287,453
	$821,327
	$12,445,712
	$1,109,352
	$269,796
	$839,555
	$11,612,582
	$1,124,451
	$255,031
	$869,421
	$10,901,223
	$1,126,457
	$236,614
	$889,842
	$10,030,823
	$1,127,242
	$217,486
	$909,756
	$9,128,059
	$1,126,050
	$197,565
	$928,484
	$8,189,923
	$1,126,583
	$177,532
	$949,051
	$7,244,748
	$1,126,625
	$156,975
	$969,649
	$6,275,369
	$1,126,419
	$135,942
	$990,478
	$5,283,746
	$1,126,419
	$114,481
	$1,011,938
	$4,271,808
	$1,124,451
	$92,394
	$1,032,057
	$3,232,287
	$1,126,457
	$70,158
	$1,056,299
	$2,181,753
	$1,127,242
	$47,304
	$1,079,938
	$1,103,336
	$1,126,050
	$23,880
	$1,102,170
	$0
	
	No. de Cuota
	Saldo Inicial
	
	Deuda
	1
2
	160,714 UVRs
160,426 UVRs
160,132 UVRs
159,832 UVRs
159,525 UVRs
159,211 UVRs
158,891 UVRs
158,563 UVRs
158,229 UVRs
157,887 UVRs
157,538 UVRs
157,181 UVRs
	3
4
	
	5
6
	
	7
8
	
	9
10
	
	11
12
	
	13
14
	156,817 UVRs
156,444 UVRs
156,064 UVRs
155,675 UVRs
155,278 UVRs
154,872 UVRs
154,458 UVRs
154,034 UVRs
153,602 UVRs
153,160 UVRs
152,708 UVRs
152,247 UVRs
151,776 UVRs
151,294 UVRs
150,802 UVRs
150,299 UVRs
149,786 UVRs
149,261 UVRs
148,725 UVRs
148,177 UVRs
147,618 UVRs
147,046 UVRs
146,462 UVRs
145,865 UVRs
145,256 UVRs
144,633 UVRs
143,997 UVRs
143,347 UVRs
142,682 UVRs
142,004 UVRs
141,310 UVRs
140,602 UVRs
139,878 UVRs
139,139 UVRs
138,384 UVRs
137,612 UVRs
136,824 UVRs
136,018 UVRs
135,195 UVRs
134,354 UVRs
133,495 UVRs
132,618 UVRs
131,721 UVRs
130,805 UVRs
	15
16
	
	17
18
	
	19
20
	
	21
22
	
	23
24
	
	25
26
	
	27
28
	
	29
30
	
	31
32
	
	33
34
	
	35
36
	
	37
38
	
	39
40
	
	41
42
	
	43
44
	
	45
46
	
	47
48
	
	49
50
	
	51
52
	
	53
54
	
	55
56
	
	57
58
	129,869 UVRs
128,913 UVRs
127,936 UVRs
126,938 UVRs
125,918 UVRs
124,876 UVRs
123,812 UVRs
122,724 UVRs
121,613 UVRs
120,478 UVRs
119,318 UVRs
118,134 UVRs
116,923 UVRs
115,686 UVRs
114,423 UVRs
113,132UVRs
111,813 UVRs
110,466 UVRs
109,089 UVRs
107,683 UVRs
106,246 UVRs
104,778 UVRs
103,278 UVRs
101,746 UVRs
100,180 UVRs
98,581 UVRs
96,946 UVRs
95,277 UVRs
93,571 UVRs
91,829 UVRs
90,048 UVRs
88,229 UVRs
86,371 UVRs
84,472 UVRs
82,532 UVRs
80,550 UVRs
78,526 UVRs
76,457 UVRs
74,343 UVRs
72,184 UVRs
69,978 UVRs
67,724 UVRs
65,422 UVRs
63,069 UVRs
	59
60
	
	61
62
	
	63
64
	
	65
66
	
	67
68
	
	69
70
	
	71
72
	
	73
74
	
	75
76
	
	77
78
	
	79
80
	
	81
82
	
	83
84
	
	85
86
	
	87
88
	
	89
90
	
	91
92
	
	93
94
	
	95
96
	
	97
98
	
	99
100
	
	
	101
102
	60,665 UVRs
58,210 UVRs
55,701 UVRs
53,138 UVRs
50,519 UVRs
47,844 UVRs
45,110 UVRs
42,318 UVRs
39,464 UVRs
36,549 UVRs
33,571 UVRs
30,529 UVRs
27,420 UVRs
24,244 UVRs
20,999 UVRs
17,684 UVRs
14,297 UVRs
10,837 UVRs
7,302 UVRs
3,690 UVRs
	
	103
104
	
	
	105
106
	
	
	107
108
	
	
	109
110
	
	
	111
112
	
	
	113
114
	
	
	115
116
	
	
	117
118
	
	
	119
120
	
	
	
	TABLA DE AMORTIZACIÓN EN UVR
	Costo Periódico
	
	Costo Anual
	
	Cuota
	Interés
	Abono
	Saldo Final
	-160,714 UVRs
	
	3,770 UVRs
	3,482 UVRs
	288 UVRs
	160,426 UVRs
	3,770 UVRs
	3,476 UVRs
	294 UVRs
	160,132 UVRs
	3,770 UVRs
	3,470 UVRs
	301 UVRs
	159,832 UVRs
	3,770 UVRs
	3,463 UVRs
	307 UVRs
	159,525 UVRs
	3,770 UVRs
	3,456 UVRs
	314 UVRs
	159,211 UVRs
	3,770 UVRs
	3,450 UVRs
	320 UVRs
	158,891 UVRs
	3,770 UVRs
	3,443 UVRs
	327 UVRs
	158,563 UVRs
	3,770 UVRs
	3,436 UVRs
	335 UVRs
	158,229 UVRs
	3,770 UVRs
	3,428 UVRs
	342 UVRs
	157,887 UVRs
	3,770 UVRs
	3,421 UVRs
	349 UVRs
	157,538 UVRs
	3,770 UVRs
	3,413 UVRs
	357 UVRs
	157,181 UVRs
	3,770 UVRs
	3,406 UVRs
	364 UVRs
	156,817 UVRs
	3,770 UVRs
	3,398 UVRs
	372 UVRs
	156,444 UVRs
	3,770 UVRs
	3,390 UVRs
	380 UVRs
	156,064 UVRs
	3,770 UVRs
	3,381 UVRs
	389 UVRs
	155,675 UVRs
	3,770 UVRs
	3,373 UVRs
	397 UVRs
	155,278 UVRs
	3,770 UVRs
	3,364 UVRs
	406 UVRs
	154,872 UVRs
	3,770 UVRs
	3,356 UVRs
	414 UVRs
	154,458 UVRs
	3,770 UVRs
	3,347 UVRs
	423 UVRs
	154,034 UVRs
	3,770 UVRs
	3,337 UVRs
	433 UVRs
	153,602 UVRs
	3,770 UVRs
	3,328 UVRs
	442 UVRs
	153,160 UVRs
	3,770 UVRs
	3,318 UVRs
	452 UVRs
	152,708 UVRs
	3,770 UVRs
	3,309 UVRs
	461 UVRs
	152,247 UVRs
	3,770 UVRs
	3,299 UVRs
	471 UVRs
	151,776 UVRs
	3,770 UVRs
	3,288 UVRs
	482 UVRs
	151,294 UVRs
	3,770 UVRs
	3,278 UVRs
	492 UVRs
	150,802 UVRs
	3,770 UVRs
	3,267 UVRs
	503 UVRs
	150,299 UVRs
	3,770 UVRs
	3,256 UVRs
	514 UVRs
	149,786 UVRs
	3,770 UVRs
	3,245 UVRs
	525 UVRs
	149,261 UVRs
	3,770 UVRs
	3,234 UVRs
	536 UVRs
	148,725 UVRs
	3,770 UVRs
	3,222 UVRs
	548 UVRs
	148,177 UVRs
	3,770 UVRs
	3,211 UVRs
	560 UVRs
	147,618 UVRs
	3,770 UVRs
	3,198 UVRs
	572 UVRs
	147,046 UVRs
	3,770 UVRs
	3,186 UVRs
	584 UVRs
	146,462 UVRs
	3,770 UVRs
	3,173 UVRs
	597 UVRs
	145,865 UVRs
	3,770 UVRs
	3,160 UVRs
	610 UVRs
	145,256 UVRs
	3,770 UVRs
	3,147 UVRs
	623 UVRs
	144,633 UVRs
	3,770 UVRs
	3,134 UVRs
	636 UVRs
	143,997 UVRs
	3,770 UVRs
	3,120 UVRs
	650 UVRs
	143,347 UVRs
	3,770 UVRs
	3,106 UVRs
	664 UVRs
	142,682 UVRs
	3,770 UVRs
	3,091 UVRs
	679 UVRs
	142,004 UVRs
	3,770 UVRs
	3,077 UVRs
	693 UVRs
	141,310 UVRs
	3,770 UVRs
	3,062 UVRs
	708 UVRs
	140,602 UVRs
	3,770 UVRs
	3,046 UVRs
	724 UVRs
	139,878 UVRs
	3,770 UVRs
	3,031 UVRs
	739 UVRs
	139,139 UVRs
	3,770 UVRs
	3,015 UVRs
	755 UVRs
	138,384 UVRs
	3,770 UVRs
	2,998 UVRs
	772 UVRs
	137,612 UVRs
	3,770 UVRs
	2,982 UVRs
	788 UVRs
	136,824 UVRs
	3,770 UVRs
	2,965 UVRs
	806 UVRs
	136,018 UVRs
	3,770 UVRs
	2,947 UVRs
	823 UVRs
	135,195 UVRs
	3,770 UVRs
	2,929 UVRs
	841 UVRs
	134,354 UVRs
	3,770 UVRs
	2,911 UVRs
	859 UVRs
	133,495 UVRs
	3,770 UVRs
	2,892 UVRs
	878 UVRs
	132,618 UVRs
	3,770 UVRs
	2,873 UVRs
	897 UVRs
	131,721 UVRs
	3,770 UVRs
	2,854 UVRs
	916 UVRs
	130,805 UVRs
	3,770 UVRs
	2,834 UVRs
	936 UVRs
	129,869 UVRs
	3,770 UVRs
	2,814 UVRs
	956 UVRs
	128,913 UVRs
	3,770 UVRs
	2,793 UVRs
	977 UVRs
	127,936 UVRs
	3,770 UVRs
	2,772 UVRs
	998 UVRs
	126,938 UVRs
	3,770 UVRs
	2,750 UVRs
	1,020 UVRs
	125,918 UVRs
	3,770 UVRs
	2,728 UVRs
	1,042 UVRs
	124,876 UVRs
	3,770 UVRs
	2,706 UVRs
	1,064 UVRs
	123,812 UVRs
	3,770 UVRs
	2,683 UVRs
	1,087 UVRs
	122,724 UVRs
	3,770 UVRs
	2,659 UVRs
	1,111 UVRs
	121,613 UVRs
	3,770 UVRs
	2,635 UVRs
	1,135 UVRs
	120,478 UVRs
	3,770 UVRs
	2,610 UVRs
	1,160 UVRs
	119,318 UVRs
	3,770 UVRs
	2,585 UVRs
	1,185 UVRs
	118,134 UVRs
	3,770 UVRs
	2,560 UVRs
	1,210 UVRs
	116,923 UVRs
	3,770 UVRs
	2,533 UVRs
	1,237 UVRs
	115,686 UVRs
	3,770 UVRs
	2,507 UVRs
	1,264 UVRs
	114,423 UVRs
	3,770 UVRs
	2,479 UVRs
	1,291 UVRs
	113,132 UVRs
	3,770 UVRs
	2,451 UVRs
	1,319 UVRs
	111,813 UVRs
	3,770 UVRs
	2,423 UVRs
	1,347 UVRs
	110,466 UVRs
	3,770 UVRs
	2,393 UVRs
	1,377 UVRs
	109,089 UVRs
	3,770 UVRs
	2,364 UVRs
	1,406 UVRs
	107,683 UVRs
	3,770 UVRs
	2,333 UVRs
	1,437 UVRs
	106,246 UVRs
	3,770 UVRs
	2,302 UVRs
	1,468 UVRs
	104,778 UVRs
	3,770 UVRs
	2,270 UVRs
	1,500 UVRs
	103,278 UVRs
	3,770 UVRs
	2,238 UVRs
	1,532 UVRs
	101,746 UVRs
	3,770 UVRs
	2,204 UVRs
	1,566 UVRs
	100,180 UVRs
	3,770 UVRs
	2,171 UVRs
	1,599 UVRs
	98,581 UVRs
	3,770 UVRs
	2,136 UVRs
	1,634 UVRs
	96,946 UVRs
	3,770 UVRs
	2,101 UVRs
	1,670 UVRs
	95,277 UVRs
	3,770 UVRs
	2,064 UVRs
	1,706 UVRs
	93,571 UVRs
	3,770 UVRs
	2,027 UVRs
	1,743 UVRs
	91,829 UVRs
	3,770 UVRs
	1,990 UVRs
	1,780 UVRs
	90,048 UVRs
	3,770 UVRs
	1,951 UVRs
	1,819 UVRs
	88,229 UVRs
	3,770 UVRs
	1,912 UVRs
	1,858 UVRs
	86,371 UVRs
	3,770 UVRs
	1,871 UVRs
	1,899 UVRs
	84,472 UVRs
	3,770 UVRs
	1,830 UVRs
	1,940 UVRs
	82,532 UVRs
	3,770 UVRs
	1,788 UVRs
	1,982 UVRs
	80,550 UVRs
	3,770 UVRs
	1,745 UVRs
	2,025 UVRs
	78,526 UVRs
	3,770 UVRs
	1,701 UVRs
	2,069 UVRs
	76,457 UVRs
	3,770 UVRs
	1,657 UVRs
	2,113 UVRs
	74,343 UVRs
	3,770 UVRs
	1,611 UVRs
	2,159 UVRs
	72,184 UVRs
	3,770 UVRs
	1,564 UVRs
	2,206 UVRs
	69,978 UVRs
	3,770 UVRs
	1,516 UVRs
	2,254 UVRs
	67,724 UVRs
	3,770 UVRs
	1,467 UVRs
	2,303 UVRs
	65,422 UVRs
	3,770 UVRs
	1,417 UVRs
	2,353 UVRs
	63,069 UVRs
	3,770 UVRs
	1,366 UVRs
	2,404 UVRs
	60,665 UVRs
	3,770 UVRs
	1,314 UVRs
	2,456 UVRs
	58,210 UVRs
	3,770 UVRs
	1,261 UVRs
	2,509 UVRs
	55,701 UVRs
	3,770 UVRs
	1,207 UVRs
	2,563 UVRs
	53,138 UVRs
	3,770 UVRs
	1,151 UVRs
	2,619 UVRs
	50,519 UVRs
	3,770 UVRs
	1,095 UVRs
	2,675 UVRs
	47,844 UVRs
	3,770 UVRs
	1,037 UVRs
	2,733 UVRs
	45,110 UVRs
	3,770 UVRs
	977 UVRs
	2,793 UVRs
	42,318 UVRs
	3,770 UVRs
	917 UVRs
	2,853 UVRs
	39,464 UVRs
	3,770 UVRs
	855 UVRs
	2,915 UVRs
	36,549 UVRs
	3,770 UVRs
	792 UVRs
	2,978 UVRs
	33,571 UVRs
	3,770 UVRs
	727 UVRs
	3,043 UVRs
	30,529 UVRs
	3,770 UVRs
	661 UVRs
	3,109 UVRs
	27,420 UVRs
	3,770 UVRs
	594 UVRs
	3,176 UVRs
	24,244 UVRs
	3,770 UVRs
	525 UVRs
	3,245 UVRs
	20,999 UVRs
	3,770 UVRs
	455 UVRs
	3,315 UVRs
	17,684 UVRs
	3,770 UVRs
	383 UVRs
	3,387 UVRs
	14,297 UVRs
	3,770 UVRs
	310 UVRs
	3,460 UVRs
	10,837 UVRs
	3,770 UVRs
	235 UVRs
	3,535 UVRs
	7,302 UVRs
	3,770 UVRs
	158 UVRs
	3,612 UVRs
	3,690 UVRs
	3,770 UVRs
	80 UVRs
	3,690 UVRs
	0 UVRs
	
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