S vn u t gc (triu ng)

S k u t (nm)
Li sut
Nm
CFi
Nm
Tin li n
Tin li kp

100
5
10%
0

100
0

5
161.0510

1
10.00
14.64

2
10.00
13.31

3
10.00
12.10

4
10.00
11.00

=FV($B$3,$B$2-C8,,C9)

5
10.00
10.00

<--=FV($B$3,G5,,-B6)

50.00 <--=SUM(C9:G9)
61.0510 <--=SUM(C10:G10)
61.0510 <--=FV(B3,B2,-C9)

Li sut chit khu (chi ph c hi)

Gi tr hin ti ca cc khon thu nhp (triu ng)

Nm
Dng tin (CF)

10%
379.08 <--=NPV(B1,B6:F6)

1
100

2
100

3
100

4
100

5
100

Gi tr hin ti ca cc khon thu nhp (triu ng)

T sut sinh li ni b (IRR)
Nm
Dng tin (CF)

0.00 <--=NPV(B2,C5:G5)+B5
7.93% <--Dng hm Goal Seek
0
-400

1
100

2
100

3
100

4
100

5
100

T sut sinh li ni b (IRR)

Gi tr hin ti rng (NPV) @ r = 10%

7.931% <--=IRR(B6:G6)
-20.92 <--=NPV(10%,C6:G6)+B6

Nm

Dng tin (CF)

1
100

-400

2
100

BNG VAY VN
=-B6

Nm
1
2
3
4
5
=B13-E13

Vn gc
vo u nm
400.00
331.72
258.03
178.50
92.65

Khon thu nhp

vo cui nm
100
100
100
100
100

Phn chia khon thu nhp thnh

Tin li
31.72
26.31
20.46
14.16
7.35

=B13*$B$1

3
100

n chia khon thu nhp thnh

Vn gc
68.28
73.69
79.54
85.84
92.65

4
100

5
100

=C13-D13

Chi ph u t (triu ng)

T sut sinh li ni b (IRR)

-1000
20.00%

BNG VAY VN

=-B1

Nm
1
2
3
4
5
6

Vn gc
vo u nm
1000.00
1050.04
1060.10
972.17
666.64
0.00

=B10-E10

Phn chia khon thu nhp

gia phn li v vn gc
Tin li
Vn gc
200.04
-50.04
210.06
-10.06
212.07
87.93
194.48
305.52
133.36
666.64

=B10*$B$2

Nm
0
1
2
3
4
5
IRR?

Khon thu nhp

vo cui nm
150
200
300
500
800

Dng tin
-1000
150
200
300
500
800
20.0% <=IRR(B22:B27)

=C10-D10

=C10-D10

T SUT SINH LI NI B KP
6%
-5.14 <--=NPV(B3,$C$7:$G$7)+$B$7

Nm
Dng tin

0
-130

Gi tr h i n ti r n g ($)

Li sut chit khu

NPV

1
90

2
100

3
75

4
85
BNG D LIU
Li sut chit khu

Hai IRR
5.00
0.00
0%

5%

10%

15%

20%

25%

30%

-5.00
-10.00
-15.00
-20.00
-25.00

Xc nh hai IRR
IRR th nht
IRR th hai

Li s ut chi t k hu (%)

10.18% <--=IRR(B7:G7,0.1)
26.12% <--=IRR(B7:G7,0.3)

35%

40%

0%
2%
4%
6%
8%
10%
12%
14%
16%
18%
20%
22%
24%
26%
28%
30%
32%
34%

5
-240

NPV
-5.14
-20.00
-13.82
-8.94
-5.14
-2.26
-0.15
1.30
2.20
2.63
2.67
2.39
1.83
1.04
0.06
-1.07
-2.34
-3.71
-5.16

THNG S TRI PHIU

Mnh gi (triu ng)
Li sut tri phiu
Thi hn cn li
Th gi tri phiu (triu ng)

100
10%
8
94.5

DNG TIN TRI PHIU

Nm
Dng tin

0
-94.5

IRR CA TRI PHIU

1
10

2
10

3
10

4
10

5
10

6
10

11.07% <--=IRR(B9:J9)

Li sut chit khu tri phiu NPV

0%
85.50
2%
64.10
4%
45.90
6%
30.34
8%
16.99
10%
5.50
12%
(4.44)
14%
(13.06)
16%
(20.56)
18%
(27.12)
20%
(32.87)

100.00
80.00
60.00
40.00
20.00
0%
(20.00)
(40.00)

5%

10%

15%

20%

7
10

15%

20%

8
110

25%

LCH BIU THANH TON

Vn vay (t ng)
Li sut
K hn tr n (nm)
Khon thanh ton hng nm (t ng)

100
10%
5
26.380
=IPMT($B$4,A9,$B$5,=PPMT($B$4,A9,$B$5,$B$3,0,0)
D n
Tin li tr Tin gc tr $B$3,0,0)
Tng tr n

Nm

=B9-D9

Tng
Tng s li tr trong 3 nm u
Tng s n gc tr trong 3 nm cui
T trng n gc tr trong 3 nm cui

1
2
3
4
5

u k
100.000
83.620
65.603
45.783
23.982

trong k
10.000
8.362
6.560
4.578
2.398
31.899

trong k
16.380
18.018
19.819
21.801
23.982
100.000

trong k
26.380
26.380
26.380
26.380
26.380
131.899

24.922 <--=-CUMIPMT(B4,B5,B3,A9,A11,0)
65.603 <--=-CUMPRINC(B4,B5,B3,A11,A13,0)
65.60% <--=B17/D14

1.61051

PMT($B$4,A9,$B$5,3,0,0)

<--=$B$6

<--=SUM(E9:E13)

GI TR TNG LAI
S tin gi (triu ng)
Li sut nm
Thi hn (nm)

100
10%
5

Nm
1
2
3
4
5

=B7*$B$3

S d ti khon Tin li c sinh Tng s tin trong ti

u nm
ra trong nm
khon vo cui nm
100.00
10.00
110.00
110.00
11.00
121.00
121.00
12.10
133.10
133.10
13.31
146.41
146.41
14.64
161.05
=D7

Cch tnh tng qut

Cch tnh s dng hm FV

161.05 <--=B7*(1+B3)^B4
161.05 <--=FV(B3,B4,0,-B2,)

<--=B7+C7

GI TR TNG LAI CA CHUI TIN

S tin gi hng nm (triu ng)
100
Li sut nm
10%
=$B$2
=(B7+C7)*$B$3
S k gi
5
S d ti khon S tin gi vo Tin li c sinh
Nm
u nm
mi nm
ra trong nm
1
2
3
4
5

110.00
231.00
364.10
510.51

100.00
100.00
100.00
100.00
100.00

=E7

S tin trong ti khon

671.56 <--=FV(B3,B4,-B2,0,1)

10.00
21.00
33.10
46.41
61.05

=(B7+C7)*$B$3

Tng s tin trong ti

khon vo cui nm
110.00 <--=B7+C7+D7
231.00
364.10
510.51
671.56

Microsoft Excel 12.0 Sensitivity Report

Worksheet: [1 Basic Financial Calculations_Edited.xls]Retirement
Report Created: 10/18/2010 9:56:57 AM

Adjustable Cells
Cell
$B$3

Name
Tin gi hng nm (triu ng)

Constraints
NONE

Final Reduced
Value Gradient
100.65
-

VN HU TR
Li sut
Tin gi hng nm (triu ng)
Tin rt hng nm (triu ng)

Nm
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15

10%
100.65
100.00

=(B7+C7)*$B$2

S d ti khon Tin gi vo u Tin li sinh

u nm
mi nm
ra trong nm
0.00
100.65
10.06
110.71
100.65
21.14
232.49
100.65
33.31
366.45
100.65
46.71
513.81
100.65
61.45
675.90
-100.00
57.59
633.49
-100.00
53.35
586.84
-100.00
48.68
535.53
-100.00
43.55
479.08
-100.00
37.91
416.99
-100.00
31.70
348.69
-100.00
24.87
273.55
-100.00
17.36
190.91
-100.00
9.09
100.00
-100.00
0.00
=SUM(D7:D21)-->
496.77

=(B7+C7)*$B$2

Tng s tin
trong ti khon
cui nm
110.71 <--=B7+C7+D7
232.49
366.45
513.81
675.90
633.49
586.84
535.53
479.08
416.99
348.69
273.55
190.91
100.00
0.00
S li sinh ra

8%
45.973111549802400%
0.4693280768 29386.55

VN HU TR
Li sut
Tin gi hng nm (triu ng)
Tin rt hng nm (triu ng)
iu kin ngang bng gi tr

Nm
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15

10%
100.65
100.00
- <--=FV(B2,5,B3)-PV(B2,10,B4)

S d ti khon u nm
0.00
110.71
232.49
366.45
513.81
675.90
633.49
586.84
535.53
479.08
416.99
348.69
273.55
190.91
100.00

Tin gi vo u Tin li sinh

mi nm
ra trong nm
100.65
10.06
100.65
21.14
100.65
33.31
100.65
46.71
100.65
61.45
-100.00
57.59
-100.00
53.35
-100.00
48.68
-100.00
43.55
-100.00
37.91
-100.00
31.70
-100.00
24.87
-100.00
17.36
-100.00
9.09
-100.00
0.00

Tng s tin
trong ti khon
cui nm
110.71
232.49
366.45
513.81
675.90
633.49
586.84
535.53
479.08
416.99
348.69
273.55
190.91
100.00
0.00

VN GHP LI
S tin gi (triu ng)
Thi hn gi (nm)
Li sut
Tn sut tr li

100
1
9%
12

=$B$3*$B$5/$B$6

Thng
1
2
3
4
5
6
7
8
9
10
11
12
Tng

=B9+C9+D
9
=C10*$B$5/$B$6

Tin li lnh S d tin

hng cui
li u
thng
thng
0.75
0.75
0.75
0.75
1.51
0.75
2.27
0.75
3.03
0.75
3.81
0.75
4.59
0.75
5.37
0.75
6.16
0.75
6.96
0.75
7.76
0.75
8.57
9.00

S d tin
S li pht
li cui
sinh thm
thng
0.75
0.01
1.51
0.01
2.27
0.02
3.03
0.02
3.81
0.03
4.59
0.03
5.37
0.04
6.16
0.05
6.96
0.05
7.76
0.06
8.57
0.06
9.38
0.38 <--=SUM(D9:D20)

S li thu c

9.42 <--=100*(EXP(0.09)-1)

S tin gi (triu ng)

Li sut (nm)
Tn sut ghp li (na nm)
Tn sut ghp li (qu)
Tn sut ghp li (thng)
Thi hn

100
10%
2
4
12
5

Gi tr thu c sau 5 nm (triu ng)

Ghp li na nm
162.89
Ghp li qu
163.86
Ghp li thng
164.53
Ghp li lin tc
164.87

<--=$B$29*(1+$B$30/B31)^(B31*$B$34)
<--=$B$29*(1+$B$30/B32)^(B32*$B$34)
<--=$B$29*(1+$B$30/B33)^(B33*$B$34)
<--=$B$29*EXP(B30*$B$34)

1.094174

CC K GHP LI HN HP
Tin gi ban u (triu ng)
Li sut (nm)
S k ghp li mt nm
Thi hn (nm)
S tin tng ln sau 5 nm
Ghp li lin tc vi hm EXP

S k ghp li mt nm
1
2
4
5
10
20
50
100
200
400
600
1000

100
10%
1
5
161.05 <--=B2*(1+B3/B4)^(B4*B5)
164.87 <--=B2*EXP(B3*B5)

Gi tr thu c
sau 5 nm
161.05
162.89
163.86
164.06
164.46
164.67
164.79
164.83
164.85
164.86
164.87
164.87

Li sut

166.00
165.00
164.00
163.00
162.00
161.00
160.00
159.00
1

10

8%

Nm

Dng tin
1
2
3
4
5

Gi tr hin ti

100
200
300
350
400

PV c chit khu
lin tc
92.3116
170.4288
235.9884
254.1522
268.1280
1021.0089

100

1000

10

100

1000

<=EXP(-$B$29*B33)*C33

<=SUM(D33:D37)

Li sut chit khu (nm)

Nm
1
2
3
4
5
Tng

Tin gi ban u (triu ng)

Gi tr cui nm (triu ng)
S k ghp li
Li sut nm
Ghp li lin tc
K ghp li
1
2
4
12
20
50
100
1000

10%
Dng tin
Gi tr hin ti
200
180.97 <--=B3*EXP(-$B$1*A3)
350
286.56
150
111.12
400
268.13
250
151.63
1350
998.41 <--=SUM(C3:C7)

100
120
1
20.00% <--=((B13/B12)^(1/B14)-1)*B14
18.23% <--=LN(B13/B12)
Li sut nm
20.00%
20.00%
19.09%
18.65%
18.37%
18.32%
18.27%
18.25%
18.23%

20.50%
20.00%
19.50%
19.00%
18.50%
18.00%
17.50%
17.00%
1

10

100

1000

Nm
Dng tin

1000

1
120

2
280

3
250

4
150

5
200

Tin gi u nm
Gi tr cui nm
S k ghp li
Li sut p dng

1000
1200
2
19.089% ,=((B2/B1)^(1/B3)-1)*B3

Trng hp ghp li lin tc

Li sut hng nm
tng ng vi s k ghp li
19.089%
1
20.000%
2
19.089%
18.232% <=LN(B2/B1)
4
18.654%
8
18.442%
20
18.316%
50
18.265%
100
18.249%

Li sut chit khu

Thu nhp rng nm u tin
NPV

12%
60
-5.35 <--=NPV(B1,C7:C17)+C6
Nm

Dng tin
0
1
2
3
4
5
6
7
8
9
10

-500
60.00 <--=B2
66.00 <--=$C$7*1.1^(B8-$B$7)
72.60
79.86
87.85
96.63
106.29
116.92
128.62
141.48

Nm

Dng tin
0
1
2
3
4
5

-620
700
420
200
120
-900

10%

36.87
36.87
(62.09)
(45.87)
(6.06)
36.87
58.93
66.92
65.44
45.68
(2.22)
(37.13)
(71.22)
(103.39)
(133.22)
(160.63)
(185.70)

1%
2%
5%
10%
15%
20%
25%
35%
50%
60%
70%
80%
90%
100%
110%

100.00
50.00
0%
(50.00)
(100.00)
(150.00)
(200.00)

20%

40%

60%

40%

60%

80%

100%

120%

IRR
Nm

3.00%
Dng tin
-800
300
200
150
100
150

0
1
2
3
4
5
Bng vay vn

=-B3
Nm
1
2
3
4
5
6

Vn gc
vo u nm
800.00
524.00
339.72
199.91
105.91
-40.91

=B16-E16

Khon thanh ton

vo cui nm
300
200
150
100
150
=B16*$B$1

Phn chia khon thanh ton

gia phn li v vn gc
Tin li
Vn gc
24.00
276.00
=C16-D16
15.72
184.28
10.19
139.81
6.00
94.00
3.18
146.82
-1.23

=C16-D16

Thng
0
1
2
3
4
5

Thanh ton tin

Thanh ton theo
mua xe
k hoch tr chm Chnh lch
30000
5000
25000
0
1050
-1050
0
1050
-1050
0
1050
-1050
0
1050
-1050
0
1050
-1050

Khon tin gi mi nm (triu ng)

Li sut nm
S nm
Tng gi tr cui nm th 5

Nm

150
10%
5
915.77 <--=FV(B2,B3,-B1,,0)
S tin gi Khon tin gi
tch ly u thm cui mi Tin li
mi nm
nm
1
0
150
0
2
150
150
15
3
315
4
5
6

Tnh ton ca nh t vn ti chnh

Li sut c hng
Li sut phi tr
Tin gi trong ti khon

10%
12%
250
KHON VAY
Vn gc u nm

Nm
1
2

250
$132.08

=PMT($B$19,2,-$B$24)

S tin tr n cui nm
147.92
147.92

Tng li phi tr

Nm

TI KHON TIT KIM

S tin trong ti khon
vo u nm
1
250
2
275
Tng li c nhn

S li c hng
trong nm
25.00
27.50
52.50

=PMT($B$19,2,-$B$24)
Chia ra:
Tin li
30
15.85
45.85

S tin trong ti khon

vo cui nm
275.00
302.50

Vn gc
117.92
132.08