FORMULARIO PEP

VP

Ft
(1+r)t

Flujo nico

VP =

VP

= F * (1+r)N- 1
(1+r)N * r

VP

= F1 * (1+w)N - 1
(1+a) (1+w)N * w

VP

= F1 * (1+r)N - 1
(1+r)N * r

VP

= Ft (1+a)t
(1+r)t

= Sk * (1+r)N * r
(1+r)N - 1

Cuotas iguales ; N= Nmero de cuotas

= Sk * (1+r)N-k * r
(1+r)N-k - 1

Cuotas iguales ; N= Periodo de Pago ; K = Periodo de gracia

= Sk
N

Dep

= VI - VR
N

KT

= Cop * ( MP * TMP + TR * TTR + 1 * TINV +

VAN

=-I+

VAN

= - I + FNC
r

VAN

= VAN * 1 +

Serie de Flujos

Flujo perpetuo

r = (1+i/k)k - 1
rk = (1+rw)k/w - 1

Gradiente Tasa : Ft = F1 (1+a)t-1

+ G * (1+r)N - 1 - N
r (1+r)N * r (1+r)N
=

F
r

Ft
(1+w)t

N= Nmero de cuotas

Gradiente Escaln : Ft = F1 + G(t-1)

Donde :

w = (1+r) - 1
(1+a)

Sk
Nk

N= Periodo de Pago ; K = Periodo de gracia

Depk = ( VLk-1 - VR)* 2

N

FNCt
(1+r)t

VAN

1
rH

COB

Depk

= (VI - VR) * (N+1-k)

k

* TCOB )

= - I + FNC *

(1+r)H - 1
(1+r)H * r

VANK rep

= VAN * 1 + (1+rH)k-1 - 1
(1+rH)k-1 * rH

Donde

rH

(1+r)H - 1

IVAN = VAN
Individual
IVAN = VAN
Conjunto
I
D
Momento Optimo de inicio
VAN = 0
VAN Mximo
r * It + FNCH+T+1 = I + FNCT+1
t
(1+r)H
(C * (1+r)-t ) = C * Ln(1+r) * (1+r)-t
t
Tamao Optimo
VAN = 0
T

VAN Mximo
2

E(Ft) = Ftj *Ptj

(Ft)

r = * Tir Marginal

(VAN) = (2(Ft)/ (1+r)2t )

= (Ftj - E(Ft))2*Ptj