UNIVERSIDAD NACIONAL ABIERTA Y A DISTANCIA -UNAD

JUAN CARLOS HERNANDEZ CARDONA

CÓDIGO: 84078178

102007-MATEMATICAS FINANCIERAS_2

UNIDAD 1_ PASO 2: ANÁLISIS DE ALTERNATIVAS Y TOMA DE DECIS

FINANCIACIÓN.

UNAD SANTA MARTA -2020

STANCIA -UNAD

CARDONA
8

NCIERAS_2

S Y TOMA DE DECISIONES DE

2020
1. Consulte en la página web de instituciones financieras reconocidas en el país,
para financiar inversiones en capital de trabajo a máximo ocho (8) años. Con
publicadas y estructure un plan de amortización de Cuota Fija , sin perio

Según la fuente consultada, la información de BANCOLOMBIA en su página we

como se muestra a continuación.
Interés: DTF + 8.0% EA  Fuente: https://www.grupobancolombia.com

PARAMETROS DE FINANCIAMIENTO
Tasa de interés: DTF+8.0%
Cantidad de periodos: 60
Valor del prestamo: $155,000,000
Periodo de gracia: 0
DTF 4.42
Interés 1.00680%
Cuota Fija 3454285.98

pasamos el interés a efectivo mensual, primero sumamos el DTF más lo

Interés EA 0.12774 12.7736 %

Convertimos el interés en efectivo mensual mediante:

Interés EM 0.01006802 1.00680 %

TABLA DE AMORTIZACION
Periodo Saldo Capital Intereses
 0 $155,000,000
1 $153,106,256.88 $1,560,542.86
2 $151,193,447.52 $1,541,476.62
3 $149,261,379.95 $1,522,218.42
4 $147,309,860.30 $1,502,766.33
5 $145,338,692.71 $1,483,118.39
6 $143,347,679.37 $1,463,272.64
7 $141,336,620.46 $1,443,227.08
8 $139,305,314.19 $1,422,979.70
9 $137,253,556.68 $1,402,528.47
10 $135,181,142.04 $1,381,871.34
11 $133,087,862.29 $1,361,006.23
12 $130,973,507.36 $1,339,931.05
13 $128,837,865.06 $1,318,643.69
14 $126,680,721.09 $1,297,142.00
15 $124,501,858.94 $1,275,423.84
16 $122,301,059.97 $1,253,487.01
17 $120,078,103.32 $1,231,329.33
18 $117,832,765.90 $1,208,948.56
19 $115,564,822.37 $1,186,342.46
20 $113,274,045.16 $1,163,508.76
21 $110,960,204.35 $1,140,445.18
22 $108,623,067.75 $1,117,149.39
23 $106,262,400.82 $1,093,619.05
24 $103,877,966.65 $1,069,851.81
25 $101,469,525.95 $1,045,845.29
26 $99,036,837.03 $1,021,597.06
27 $96,579,655.75 $997,104.70
28 $94,097,735.53 $972,365.76
29 $91,590,827.28 $947,377.74
30 $89,058,679.44 $922,138.14
31 $86,501,037.88 $896,644.43
32 $83,917,645.95 $870,894.05
33 $81,308,244.37 $844,884.41
34 $78,672,571.29 $818,612.91
35 $76,010,362.21 $792,076.90
36 $73,321,349.96 $765,273.73
37 $70,605,264.68 $738,200.70
38 $67,861,833.80 $710,855.11
39 $65,090,782.02 $683,234.20
40 $62,291,831.23 $655,335.19
41 $59,464,700.55 $627,155.31
42 $56,609,106.27 $598,691.70
43 $53,724,761.82 $569,941.53
44 $50,811,377.73 $540,901.89
45 $47,868,661.63 $511,569.89
46 $44,896,318.22 $481,942.57
47 $41,894,049.20 $452,016.96
48 $38,861,553.27 $421,790.06
49 $35,798,526.13 $391,258.84
50 $32,704,660.36 $360,420.22
51 $29,579,645.51 $329,271.12
52 $26,423,167.94 $297,808.42
53 $23,234,910.90 $266,028.94
54 $20,014,554.43 $233,929.51
55 $16,761,775.35 $201,506.90
56 $13,476,247.23 $168,757.86
57 $10,157,640.35 $135,679.11
58 $6,805,621.68 $102,267.31
59 $3,419,854.82 $68,519.12
60 $0.00 $34,431.16
eras reconocidas en el país, las alternativas de crédito que se tienen
máximo ocho (8) años. Considere alguna de las tasas de interés
ción de Cuota Fija , sin periodo de gracia ni periodo muerto.

COLOMBIA en su página web para prestamos de capital de trabajo,

muestra a continuación.
www.grupobancolombia.com/wps/portal/empresas/productos-servicios/creditos/fomento/bancoldex

CIAMIENTO
EA
Meses

Mensual

mero sumamos el DTF más los 8 puntos procentuales, usamos la expresión:

El valor de la cuota fija se calcula por m

MORTIZACION
Abono Capital Valor Cuota
$1,893,743.12 $3,454,285.98
$1,912,809.36 $3,454,285.98
$1,932,067.56 $3,454,285.98
$1,951,519.65 $3,454,285.98
$1,971,167.59 $3,454,285.98
$1,991,013.34 $3,454,285.98
$2,011,058.90 $3,454,285.98
$2,031,306.28 $3,454,285.98
$2,051,757.51 $3,454,285.98
$2,072,414.64 $3,454,285.98
$2,093,279.75 $3,454,285.98
$2,114,354.93 $3,454,285.98
$2,135,642.29 $3,454,285.98
$2,157,143.98 $3,454,285.98
$2,178,862.14 $3,454,285.98
$2,200,798.97 $3,454,285.98
$2,222,956.65 $3,454,285.98
$2,245,337.42 $3,454,285.98
$2,267,943.52 $3,454,285.98
$2,290,777.22 $3,454,285.98
$2,313,840.81 $3,454,285.98
$2,337,136.60 $3,454,285.98
$2,360,666.93 $3,454,285.98
$2,384,434.17 $3,454,285.98
$2,408,440.70 $3,454,285.98
$2,432,688.92 $3,454,285.98
$2,457,181.28 $3,454,285.98
$2,481,920.23 $3,454,285.98
$2,506,908.24 $3,454,285.98
$2,532,147.84 $3,454,285.98
$2,557,641.55 $3,454,285.98
$2,583,391.94 $3,454,285.98
$2,609,401.57 $3,454,285.98
$2,635,673.08 $3,454,285.98
$2,662,209.08 $3,454,285.98
$2,689,012.25 $3,454,285.98
$2,716,085.28 $3,454,285.98
$2,743,430.87 $3,454,285.98
$2,771,051.79 $3,454,285.98
$2,798,950.79 $3,454,285.98
$2,827,130.68 $3,454,285.98
$2,855,594.28 $3,454,285.98
$2,884,344.46 $3,454,285.98
$2,913,384.09 $3,454,285.98
$2,942,716.09 $3,454,285.98
$2,972,343.41 $3,454,285.98
$3,002,269.02 $3,454,285.98
$3,032,495.92 $3,454,285.98
$3,063,027.15 $3,454,285.98
$3,093,865.76 $3,454,285.98
$3,125,014.86 $3,454,285.98
$3,156,477.57 $3,454,285.98
$3,188,257.04 $3,454,285.98
$3,220,356.47 $3,454,285.98
$3,252,779.08 $3,454,285.98
$3,285,528.12 $3,454,285.98
$3,318,606.88 $3,454,285.98
$3,352,018.67 $3,454,285.98
$3,385,766.86 $3,454,285.98
$3,419,854.82 $3,454,285.98
omento/bancoldex

fija se calcula por medio de la siguiente expresión:

 PARAMETROS DE FINANCIACIÓN
Tasa de interés: DTF + 3,5 % TA Pasamos la tasa trimestra
Cantidad de periodos: 84 meses
Valor del prestamo: $ 155,000,000
Periodo muerto: 24 meses
DTF : 4.42
Interés EM 1.5600%
Valor cuota fija: $ 5,795,373.2 Mensuales

TABLA DE AMORTIZACION
Periodo Saldo Capital Intereses Abono Capital Valor Cuota
0 $ 155,000,000.0
1 $ 157,418,064.3 $ 2,418,064.31 0 0
2 $ 159,873,851.4 $ 2,455,787.12 0 0
3 $ 162,367,949.8 $ 2,494,098.41 0 0
4 $ 164,900,957.2 $ 2,533,007.38 0 0
5 $ 167,473,480.6 $ 2,572,523.35 0 0
6 $ 170,086,136.4 $ 2,612,655.78 0 0
7 $ 172,739,550.7 $ 2,653,414.30 0 0
8 $ 175,434,359.3 $ 2,694,808.66 0 0
9 $ 178,171,208.1 $ 2,736,848.79 0 0
10 $ 180,950,752.9 $ 2,779,544.77 0 0
11 $ 183,773,659.7 $ 2,822,906.82 0 0
12 $ 186,640,605.0 $ 2,866,945.34 0 0
13 $ 189,552,275.9 $ 2,911,670.88 0 0
14 $ 192,509,370.1 $ 2,957,094.15 0 0
15 $ 195,512,596.1 $ 3,003,226.05 0 0
16 $ 198,562,673.7 $ 3,050,077.62 0 0
17 $ 201,660,333.8 $ 3,097,660.10 0 0
18 $ 204,806,318.7 $ 3,145,984.88 0 0
19 $ 208,001,382.3 $ 3,195,063.55 0 0
20 $ 211,246,290.1 $ 3,244,907.86 0 0
21 $ 214,541,819.9 $ 3,295,529.77 0 0
22 $ 217,888,761.3 $ 3,346,941.40 0 0
23 $ 221,287,916.4 $ 3,399,155.08 0 0
24 $ 224,740,099.7 $ 3,452,183.31 0 0
25 $ 222,450,765.32 $ 3,506,038.80 $ 2,289,334.37 $ 5,795,373.2
26 $ 220,125,716.38 $ 3,470,324.23 $ 2,325,048.94 $ 5,795,373.2
27 $ 217,764,395.72 $ 3,434,052.51 $ 2,361,320.66 $ 5,795,373.2
28 $ 215,366,237.47 $ 3,397,214.92 $ 2,398,158.25 $ 5,795,373.2
29 $ 212,930,666.96 $ 3,359,802.66 $ 2,435,570.51 $ 5,795,373.2
30 $ 210,457,100.54 $ 3,321,806.75 $ 2,473,566.42 $ 5,795,373.2
31 $ 207,944,945.46 $ 3,283,218.09 $ 2,512,155.08 $ 5,795,373.2
32 $ 205,393,599.71 $ 3,244,027.43 $ 2,551,345.74 $ 5,795,373.2
33 $ 202,802,451.92 $ 3,204,225.37 $ 2,591,147.80 $ 5,795,373.2
34 $ 200,170,881.14 $ 3,163,802.39 $ 2,631,570.78 $ 5,795,373.2
35 $ 197,498,256.77 $ 3,122,748.80 $ 2,672,624.37 $ 5,795,373.2
36 $ 194,783,938.34 $ 3,081,054.75 $ 2,714,318.42 $ 5,795,373.2
37 $ 192,027,275.43 $ 3,038,710.26 $ 2,756,662.92 $ 5,795,373.2
38 $ 189,227,607.43 $ 2,995,705.17 $ 2,799,668.00 $ 5,795,373.2
39 $ 186,384,263.44 $ 2,952,029.19 $ 2,843,343.98 $ 5,795,373.2
40 $ 183,496,562.11 $ 2,907,671.84 $ 2,887,701.33 $ 5,795,373.2
41 $ 180,563,811.44 $ 2,862,622.50 $ 2,932,750.67 $ 5,795,373.2
42 $ 177,585,308.65 $ 2,816,870.38 $ 2,978,502.80 $ 5,795,373.2
43 $ 174,560,339.97 $ 2,770,404.50 $ 3,024,968.68 $ 5,795,373.2
44 $ 171,488,180.53 $ 2,723,213.73 $ 3,072,159.44 $ 5,795,373.2
45 $ 168,368,094.13 $ 2,675,286.77 $ 3,120,086.40 $ 5,795,373.2
46 $ 165,199,333.08 $ 2,626,612.13 $ 3,168,761.05 $ 5,795,373.2
47 $ 161,981,138.05 $ 2,577,178.14 $ 3,218,195.03 $ 5,795,373.2
48 $ 158,712,737.84 $ 2,526,972.96 $ 3,268,400.21 $ 5,795,373.2
49 $ 155,393,349.23 $ 2,475,984.56 $ 3,319,388.61 $ 5,795,373.2
50 $ 152,022,176.78 $ 2,424,200.72 $ 3,371,172.45 $ 5,795,373.2
51 $ 148,598,412.64 $ 2,371,609.03 $ 3,423,764.14 $ 5,795,373.2
52 $ 145,121,236.36 $ 2,318,196.89 $ 3,477,176.28 $ 5,795,373.2
53 $ 141,589,814.69 $ 2,263,951.50 $ 3,531,421.67 $ 5,795,373.2
54 $ 138,003,301.37 $ 2,208,859.86 $ 3,586,513.32 $ 5,795,373.2
55 $ 134,360,836.96 $ 2,152,908.76 $ 3,642,464.41 $ 5,795,373.2
56 $ 130,661,548.59 $ 2,096,084.80 $ 3,699,288.37 $ 5,795,373.2
57 $ 126,904,549.79 $ 2,038,374.37 $ 3,756,998.80 $ 5,795,373.2
58 $ 123,088,940.25 $ 1,979,763.63 $ 3,815,609.54 $ 5,795,373.2
59 $ 119,213,805.62 $ 1,920,238.54 $ 3,875,134.63 $ 5,795,373.2
60 $ 115,278,217.28 $ 1,859,784.83 $ 3,935,588.34 $ 5,795,373.2
61 $ 111,281,232.13 $ 1,798,388.02 $ 3,996,985.15 $ 5,795,373.2
62 $ 107,221,892.35 $ 1,736,033.39 $ 4,059,339.78 $ 5,795,373.2
63 $ 103,099,225.18 $ 1,672,706.01 $ 4,122,667.16 $ 5,795,373.2
64 $ 98,912,242.70 $ 1,608,390.69 $ 4,186,982.48 $ 5,795,373.2
65 $ 94,659,941.56 $ 1,543,072.03 $ 4,252,301.15 $ 5,795,373.2
66 $ 90,341,302.75 $ 1,476,734.36 $ 4,318,638.81 $ 5,795,373.2
67 $ 85,955,291.38 $ 1,409,361.81 $ 4,386,011.37 $ 5,795,373.2
68 $ 81,500,856.42 $ 1,340,938.21 $ 4,454,434.96 $ 5,795,373.2
69 $ 76,976,930.42 $ 1,271,447.18 $ 4,523,926.00 $ 5,795,373.2
70 $ 72,382,429.31 $ 1,200,872.05 $ 4,594,501.12 $ 5,795,373.2
71 $ 67,716,252.06 $ 1,129,195.93 $ 4,666,177.24 $ 5,795,373.2
72 $ 62,977,280.52 $ 1,056,401.63 $ 4,738,971.54 $ 5,795,373.2
73 $ 58,164,379.06 $ 982,471.71 $ 4,812,901.47 $ 5,795,373.2
74 $ 53,276,394.33 $ 907,388.45 $ 4,887,984.73 $ 5,795,373.2
75 $ 48,312,155.02 $ 831,133.86 $ 4,964,239.31 $ 5,795,373.2
76 $ 43,270,471.51 $ 753,689.66 $ 5,041,683.51 $ 5,795,373.2
77 $ 38,150,135.65 $ 675,037.31 $ 5,120,335.86 $ 5,795,373.2
78 $ 32,949,920.42 $ 595,157.94 $ 5,200,215.23 $ 5,795,373.2
79 $ 27,668,579.68 $ 514,032.43 $ 5,281,340.74 $ 5,795,373.2
80 $ 22,304,847.83 $ 431,641.32 $ 5,363,731.85 $ 5,795,373.2
81 $ 16,857,439.54 $ 347,964.88 $ 5,447,408.29 $ 5,795,373.2
82 $ 11,325,049.42 $ 262,983.05 $ 5,532,390.12 $ 5,795,373.2
83 $ 5,706,351.72 $ 176,675.47 $ 5,618,697.70 $ 5,795,373.2
84 -$ 0.00 $ 89,021.45 $ 5,706,351.72 $ 5,795,373.2
asamos la tasa trimestral anticipada a trimestral vencida, luego a efectiva anual, sumamos con el DTF y pasamos a efectiva mensual:

Interés TV 0.03626943 3.627% Sumando el DTF tenemos el interés EA 0.20413294

Interés EA 0.15316313 15.3163% Interés efectivo mensual: 0.01560041

amos a efectiva mensual: Calculo cuota mensual $ 5,795,373.17

20.413%

1.5600% EM
 PARAMETROS DE FINANCIACIÓN
Tasa de interés: IPC + 6,5 % EA Sumamos IPC y los 6,5 pu
Cantidad de periodos: 48 meses
Valor del prestamo: $ 155,000,000
Periodo de gracia: 12 meses
IPC 3.86
Interés EM 0.8439%
Valor cuota fija: $ 5,542,364.8 Mensuales

TABLA DE AMORTIZACION
Periodo Saldo Capital Intereses Abono Capital Valor Cuota
0 $ 155,000,000.0
1 $ 156,308,114.9 $ 1,308,114.86 0 0
2 $ 157,627,269.5 $ 1,319,154.63 0 0
3 $ 158,957,557.1 $ 1,330,287.57 0 0
4 $ 160,299,071.5 $ 1,341,514.46 0 0
5 $ 161,651,907.6 $ 1,352,836.11 0 0
6 $ 163,016,160.9 $ 1,364,253.30 0 0
7 $ 164,391,927.8 $ 1,375,766.85 0 0
8 $ 165,779,305.4 $ 1,387,377.57 0 0
9 $ 167,178,391.6 $ 1,399,086.27 0 0
10 $ 168,589,285.4 $ 1,410,893.79 0 0
11 $ 170,012,086.4 $ 1,422,800.96 0 0
12 $ 171,446,895.0 $ 1,434,808.62 0 0
13 $ 167,351,447.8 $ 1,446,917.62 $ 4,095,447.19 $ 5,542,364.8
14 $ 163,221,437.3 $ 1,412,354.29 $ 4,130,010.52 $ 5,542,364.8
15 $ 159,056,571.8 $ 1,377,499.27 $ 4,164,865.54 $ 5,542,364.8
16 $ 154,856,557.0 $ 1,342,350.09 $ 4,200,014.71 $ 5,542,364.8
17 $ 150,621,096.5 $ 1,306,904.28 $ 4,235,460.53 $ 5,542,364.8
18 $ 146,349,891.0 $ 1,271,159.32 $ 4,271,205.49 $ 5,542,364.8
19 $ 142,042,638.9 $ 1,235,112.69 $ 4,307,252.12 $ 5,542,364.8
20 $ 137,699,035.9 $ 1,198,761.85 $ 4,343,602.96 $ 5,542,364.8
21 $ 133,318,775.4 $ 1,162,104.22 $ 4,380,260.58 $ 5,542,364.8
22 $ 128,901,547.8 $ 1,125,137.23 $ 4,417,227.58 $ 5,542,364.8
23 $ 124,447,041.2 $ 1,087,858.26 $ 4,454,506.55 $ 5,542,364.8
24 $ 119,954,941.1 $ 1,050,264.67 $ 4,492,100.14 $ 5,542,364.8
25 $ 115,424,930.1 $ 1,012,353.81 $ 4,530,011.00 $ 5,542,364.8
26 $ 110,856,688.3 $ 974,123.01 $ 4,568,241.80 $ 5,542,364.8
27 $ 106,249,893.0 $ 935,569.55 $ 4,606,795.25 $ 5,542,364.8
28 $ 101,604,219.0 $ 896,690.73 $ 4,645,674.07 $ 5,542,364.8
29 $ 96,919,338.0 $ 857,483.80 $ 4,684,881.01 $ 5,542,364.8
30 $ 92,194,919.1 $ 817,945.97 $ 4,724,418.83 $ 5,542,364.8
31 $ 87,430,628.8 $ 778,074.47 $ 4,764,290.33 $ 5,542,364.8
32 $ 82,626,130.5 $ 737,866.48 $ 4,804,498.33 $ 5,542,364.8
33 $ 77,781,084.8 $ 697,319.15 $ 4,845,045.65 $ 5,542,364.8
34 $ 72,895,149.6 $ 656,429.63 $ 4,885,935.18 $ 5,542,364.8
35 $ 67,967,979.9 $ 615,195.02 $ 4,927,169.79 $ 5,542,364.8
36 $ 62,999,227.5 $ 573,612.41 $ 4,968,752.39 $ 5,542,364.8
37 $ 57,988,541.5 $ 531,678.87 $ 5,010,685.93 $ 5,542,364.8
38 $ 52,935,568.2 $ 489,391.44 $ 5,052,973.37 $ 5,542,364.8
39 $ 47,839,950.5 $ 446,747.12 $ 5,095,617.69 $ 5,542,364.8
40 $ 42,701,328.6 $ 403,742.90 $ 5,138,621.90 $ 5,542,364.8
41 $ 37,519,339.5 $ 360,375.76 $ 5,181,989.05 $ 5,542,364.8
42 $ 32,293,617.3 $ 316,642.62 $ 5,225,722.19 $ 5,542,364.8
43 $ 27,023,792.9 $ 272,540.39 $ 5,269,824.42 $ 5,542,364.8
44 $ 21,709,494.1 $ 228,065.97 $ 5,314,298.84 $ 5,542,364.8
45 $ 16,350,345.5 $ 183,216.20 $ 5,359,148.60 $ 5,542,364.8
46 $ 10,945,968.6 $ 137,987.93 $ 5,404,376.87 $ 5,542,364.8
47 $ 5,495,981.7 $ 92,377.96 $ 5,449,986.85 $ 5,542,364.8
48 -$ 0.0 $ 46,383.07 $ 5,495,981.74 $ 5,542,364.8
umamos IPC y los 6,5 puntos para obtener la tasa efectiva anual y pasamos a efectiva mensual:

Sumando el IPC tenemos el 0.106109 10.611% Calculo cuota mensual

Interés efectivo mensual: 0.00843945 0.8439% EM

alculo cuota mensual $ 5,542,364.81
 PARAMETROS DE FINANCIACIÓN
Tasa de interés: IBR + 3,9 % EA Sumamos IBR y los 6,5 pu
Cantidad de periodos: 72 meses
Valor del prestamo: $ 155,000,000
Periodo de gracia: 0 meses
IBR 3.517 %
Interés EM 0.6087%
Amortización constante: $ 2,152,777.8 Mensuales

TABLA DE AMORTIZACION
Periodo Saldo Capital Intereses Abono Capital Valor Cuota
0 $ 155,000,000.0
1 $ 152,847,222.2 $ 943,508.23 $ 2,152,777.8 $ 3,096,286.0
2 $ 150,694,444.4 $ 930,403.95 $ 2,152,777.8 $ 3,083,181.7
3 $ 148,541,666.7 $ 917,299.67 $ 2,152,777.8 $ 3,070,077.5
4 $ 146,388,888.9 $ 904,195.39 $ 2,152,777.8 $ 3,056,973.2
5 $ 144,236,111.1 $ 891,091.11 $ 2,152,777.8 $ 3,043,868.9
6 $ 142,083,333.3 $ 877,986.83 $ 2,152,777.8 $ 3,030,764.6
7 $ 139,930,555.6 $ 864,882.55 $ 2,152,777.8 $ 3,017,660.3
8 $ 137,777,777.8 $ 851,778.27 $ 2,152,777.8 $ 3,004,556.0
9 $ 135,625,000.0 $ 838,673.99 $ 2,152,777.8 $ 2,991,451.8
10 $ 133,472,222.2 $ 825,569.71 $ 2,152,777.8 $ 2,978,347.5
11 $ 131,319,444.4 $ 812,465.42 $ 2,152,777.8 $ 2,965,243.2
12 $ 129,166,666.7 $ 799,361.14 $ 2,152,777.8 $ 2,952,138.9
13 $ 127,013,888.9 $ 786,256.86 $ 2,152,777.8 $ 2,939,034.6
14 $ 124,861,111.1 $ 773,152.58 $ 2,152,777.8 $ 2,925,930.4
15 $ 122,708,333.3 $ 760,048.30 $ 2,152,777.8 $ 2,912,826.1
16 $ 120,555,555.6 $ 746,944.02 $ 2,152,777.8 $ 2,899,721.8
17 $ 118,402,777.8 $ 733,839.74 $ 2,152,777.8 $ 2,886,617.5
18 $ 116,250,000.0 $ 720,735.46 $ 2,152,777.8 $ 2,873,513.2
19 $ 114,097,222.2 $ 707,631.18 $ 2,152,777.8 $ 2,860,409.0
20 $ 111,944,444.4 $ 694,526.90 $ 2,152,777.8 $ 2,847,304.7
21 $ 109,791,666.7 $ 681,422.61 $ 2,152,777.8 $ 2,834,200.4
22 $ 107,638,888.9 $ 668,318.33 $ 2,152,777.8 $ 2,821,096.1
23 $ 105,486,111.1 $ 655,214.05 $ 2,152,777.8 $ 2,807,991.8
24 $ 103,333,333.3 $ 642,109.77 $ 2,152,777.8 $ 2,794,887.5
25 $ 101,180,555.6 $ 629,005.49 $ 2,152,777.8 $ 2,781,783.3
26 $ 99,027,777.8 $ 615,901.21 $ 2,152,777.8 $ 2,768,679.0
27 $ 96,875,000.0 $ 602,796.93 $ 2,152,777.8 $ 2,755,574.7
28 $ 94,722,222.2 $ 589,692.65 $ 2,152,777.8 $ 2,742,470.4
29 $ 92,569,444.4 $ 576,588.37 $ 2,152,777.8 $ 2,729,366.1
30 $ 90,416,666.7 $ 563,484.08 $ 2,152,777.8 $ 2,716,261.9
31 $ 88,263,888.9 $ 550,379.80 $ 2,152,777.8 $ 2,703,157.6
32 $ 86,111,111.1 $ 537,275.52 $ 2,152,777.8 $ 2,690,053.3
33 $ 83,958,333.3 $ 524,171.24 $ 2,152,777.8 $ 2,676,949.0
34 $ 81,805,555.6 $ 511,066.96 $ 2,152,777.8 $ 2,663,844.7
35 $ 79,652,777.8 $ 497,962.68 $ 2,152,777.8 $ 2,650,740.5
36 $ 77,500,000.0 $ 484,858.40 $ 2,152,777.8 $ 2,637,636.2
37 $ 75,347,222.2 $ 471,754.12 $ 2,152,777.8 $ 2,624,531.9
38 $ 73,194,444.4 $ 458,649.84 $ 2,152,777.8 $ 2,611,427.6
39 $ 71,041,666.7 $ 445,545.56 $ 2,152,777.8 $ 2,598,323.3
40 $ 68,888,888.9 $ 432,441.27 $ 2,152,777.8 $ 2,585,219.1
41 $ 66,736,111.1 $ 419,336.99 $ 2,152,777.8 $ 2,572,114.8
42 $ 64,583,333.3 $ 406,232.71 $ 2,152,777.8 $ 2,559,010.5
43 $ 62,430,555.6 $ 393,128.43 $ 2,152,777.8 $ 2,545,906.2
44 $ 60,277,777.8 $ 380,024.15 $ 2,152,777.8 $ 2,532,801.9
45 $ 58,125,000.0 $ 366,919.87 $ 2,152,777.8 $ 2,519,697.6
46 $ 55,972,222.2 $ 353,815.59 $ 2,152,777.8 $ 2,506,593.4
47 $ 53,819,444.4 $ 340,711.31 $ 2,152,777.8 $ 2,493,489.1
48 $ 51,666,666.7 $ 327,607.03 $ 2,152,777.8 $ 2,480,384.8
49 $ 49,513,888.9 $ 314,502.74 $ 2,152,777.8 $ 2,467,280.5
50 $ 47,361,111.1 $ 301,398.46 $ 2,152,777.8 $ 2,454,176.2
51 $ 45,208,333.3 $ 288,294.18 $ 2,152,777.8 $ 2,441,072.0
52 $ 43,055,555.6 $ 275,189.90 $ 2,152,777.8 $ 2,427,967.7
53 $ 40,902,777.8 $ 262,085.62 $ 2,152,777.8 $ 2,414,863.4
54 $ 38,750,000.0 $ 248,981.34 $ 2,152,777.8 $ 2,401,759.1
55 $ 36,597,222.2 $ 235,877.06 $ 2,152,777.8 $ 2,388,654.8
56 $ 34,444,444.4 $ 222,772.78 $ 2,152,777.8 $ 2,375,550.6
57 $ 32,291,666.7 $ 209,668.50 $ 2,152,777.8 $ 2,362,446.3
58 $ 30,138,888.9 $ 196,564.22 $ 2,152,777.8 $ 2,349,342.0
59 $ 27,986,111.1 $ 183,459.93 $ 2,152,777.8 $ 2,336,237.7
60 $ 25,833,333.3 $ 170,355.65 $ 2,152,777.8 $ 2,323,133.4
61 $ 23,680,555.6 $ 157,251.37 $ 2,152,777.8 $ 2,310,029.2
62 $ 21,527,777.8 $ 144,147.09 $ 2,152,777.8 $ 2,296,924.9
63 $ 19,375,000.0 $ 131,042.81 $ 2,152,777.8 $ 2,283,820.6
64 $ 17,222,222.2 $ 117,938.53 $ 2,152,777.8 $ 2,270,716.3
65 $ 15,069,444.4 $ 104,834.25 $ 2,152,777.8 $ 2,257,612.0
66 $ 12,916,666.7 $ 91,729.97 $ 2,152,777.8 $ 2,244,507.7
67 $ 10,763,888.9 $ 78,625.69 $ 2,152,777.8 $ 2,231,403.5
68 $ 8,611,111.1 $ 65,521.41 $ 2,152,777.8 $ 2,218,299.2
69 $ 6,458,333.3 $ 52,417.12 $ 2,152,777.8 $ 2,205,194.9
70 $ 4,305,555.6 $ 39,312.84 $ 2,152,777.8 $ 2,192,090.6
71 $ 2,152,777.8 $ 26,208.56 $ 2,152,777.8 $ 2,178,986.3
72 -$ 0.0 $ 13,104.28 $ 2,152,777.8 $ 2,165,882.1
umamos IBR y los 6,5 puntos para obtener la tasa efectiva anual y pasamos a efectiva mensual:

Sumando el IPC tenemos el0.07554163 7.554%

Interés efectivo mensual: 0.00608715 0.6087% EM

 PARAMETROS DE FINANCIACIÓN
Tasa de interés: 11.50% EA
Cantidad de periodos: 60 meses
Valor del prestamo: $ 155,000,000
Periodo de gracia: 0 meses
PRIMER CUOTA: $ 1,550,000 %
Interés EM 0.00911247 EM
GRADIENTE: -$ 67,744.1 Mensuales

TABLA DE AMORTIZACION
Periodo Saldo Inicial Cuota Interés
1 $155,000,000 $1,550,000 $1,412,433
2 $154,862,433 $1,617,744 $1,411,179
3 $154,655,868 $1,685,488 $1,409,297
4 $154,379,676 $1,753,232 $1,406,780
5 $154,033,224 $1,820,976 $1,403,623
6 $153,615,870 $1,888,721 $1,399,820
7 $153,126,969 $1,956,465 $1,395,365
8 $152,565,869 $2,024,209 $1,390,252
9 $151,931,912 $2,091,953 $1,384,475
10 $151,224,434 $2,159,697 $1,378,028
11 $150,442,765 $2,227,441 $1,370,905
12 $149,586,228 $2,295,185 $1,363,100
13 $148,654,143 $2,362,929 $1,354,606
14 $147,645,820 $2,430,674 $1,345,418
15 $146,560,564 $2,498,418 $1,335,529
16 $145,397,675 $2,566,162 $1,324,932
17 $144,156,445 $2,633,906 $1,313,621
18 $142,836,160 $2,701,650 $1,301,590
19 $141,436,100 $2,769,394 $1,288,832
20 $139,955,538 $2,837,138 $1,275,340
21 $138,393,740 $2,904,882 $1,261,109
22 $136,749,967 $2,972,626 $1,246,130
23 $135,023,470 $3,040,371 $1,230,397
24 $133,213,496 $3,108,115 $1,213,904
25 $131,319,286 $3,175,859 $1,196,643
26 $129,340,070 $3,243,603 $1,178,607
27 $127,275,074 $3,311,347 $1,159,790
28 $125,123,517 $3,379,091 $1,140,184
29 $122,884,610 $3,446,835 $1,119,782
30 $120,557,557 $3,514,579 $1,098,577
31 $118,141,554 $3,582,323 $1,076,561
32 $115,635,792 $3,650,068 $1,053,728
33 $113,039,452 $3,717,812 $1,030,068
34 $110,351,709 $3,785,556 $1,005,576
35 $107,571,729 $3,853,300 $980,244
36 $104,698,673 $3,921,044 $954,063
37 $101,731,693 $3,988,788 $927,027
38 $98,669,931 $4,056,532 $899,127
39 $95,512,526 $4,124,276 $870,355
40 $92,258,604 $4,192,021 $840,704
41 $88,907,287 $4,259,765 $810,165
42 $85,457,687 $4,327,509 $778,730
43 $81,908,909 $4,395,253 $746,392
44 $78,260,049 $4,462,997 $713,142
45 $74,510,194 $4,530,741 $678,972
46 $70,658,424 $4,598,485 $643,873
47 $66,703,812 $4,666,229 $607,836
48 $62,645,419 $4,733,973 $570,854
49 $58,482,300 $4,801,718 $532,918
50 $54,213,500 $4,869,462 $494,019
51 $49,838,057 $4,937,206 $454,148
52 $45,354,999 $5,004,950 $413,296
53 $40,763,345 $5,072,694 $371,455
54 $36,062,106 $5,140,438 $328,615
55 $31,250,283 $5,208,182 $284,767
56 $26,326,868 $5,275,926 $239,903
57 $21,290,844 $5,343,671 $194,012
58 $16,141,186 $5,411,415 $147,086
59 $10,876,857 $5,479,159 $99,115
60 $5,496,813 $5,546,903 $50,090
 Pasamos la tasa a efectiva mensual:

Interés efectivo mensual: 0.00911247 0.9112%

ORTIZACION
Abono Saldo Final
$137,567 $154,862,433
$206,565 $154,655,868
$276,192 $154,379,676
$346,452 $154,033,224
$417,354 $153,615,870
$488,901 $153,126,969
$561,100 $152,565,869
$633,957 $151,931,912
$707,478 $151,224,434
$781,669 $150,442,765
$856,536 $149,586,228
$932,085 $148,654,143
$1,008,323 $147,645,820
$1,085,256 $146,560,564
$1,162,889 $145,397,675
$1,241,230 $144,156,445
$1,320,285 $142,836,160
$1,400,060 $141,436,100
$1,480,562 $139,955,538
$1,561,798 $138,393,740
$1,643,774 $136,749,967
$1,726,497 $135,023,470
$1,809,973 $133,213,496
$1,894,211 $131,319,286
$1,979,216 $129,340,070
$2,064,996 $127,275,074
$2,151,557 $125,123,517
$2,238,907 $122,884,610
$2,327,053 $120,557,557
$2,416,002 $118,141,554
$2,505,762 $115,635,792
$2,596,340 $113,039,452
$2,687,743 $110,351,709
$2,779,979 $107,571,729
$2,873,056 $104,698,673
$2,966,981 $101,731,693
$3,061,761 $98,669,931
$3,157,406 $95,512,526
$3,253,922 $92,258,604
$3,351,317 $88,907,287
$3,449,600 $85,457,687
$3,548,778 $81,908,909
$3,648,861 $78,260,049
$3,749,855 $74,510,194
$3,851,769 $70,658,424
$3,954,613 $66,703,812
$4,058,393 $62,645,419
$4,163,119 $58,482,300
$4,268,799 $54,213,500
$4,375,443 $49,838,057
$4,483,058 $45,354,999
$4,591,654 $40,763,345
$4,701,239 $36,062,106
$4,811,823 $31,250,283
$4,923,415 $26,326,868
$5,036,024 $21,290,844
$5,149,658 $16,141,186
$5,264,329 $10,876,857
$5,380,044 $5,496,813
$5,496,813 $0
EM
 PROMEDIO
BANCO TASA E.A. PLAZO EN MESES PRIMERAS 12
CUOTAS

A 20.4133% 84 0

B 10.6109% 48 0

C 7.5542% 72 3024212.46680864

11.5000%
D 60 1922592.63992557

INVESTIGADO 12.7736% 60 3454285.98300218

 ANÁLISIS

Considerado la situación en que se encuentra la empresa

ElectroToy S.A.S. considero que la alternativa de crédito más
adecuada es la presentada por el banco D, pues en el
primer añolas cuotas son menores a 2 millones en promedio
lo que supone un alivio ante la falta de liquidez que sean
bajas las cuotas, por ser una financiación con gradiente
lineal decreciente, las cuotas empezarán bajas e irán
subiendo, aspecto que favorece a la empresa por
encontrarse en problemas financieros en el corto plazo,
además la tasa de interés de 11,5 %EA y el plazo medio de
60 cuotas presentan una buena alternativa.
1

3
 CONCLUSIONES
Ante la situación planteada de la empresa ElectroToy S.A.S. se encontró que la
mejor alternativa para financiar el proyecto sería la propuesta por el banco D,
donde tiene un plazo de 60 meses, un interés de 11,5 E.A. y la amortización
comienza con el 1% del monto del capital aplicando gradiente negativo para las
cuotas siguientes.

Ante ésta alternativa no es conveniente negociar dos años más de plazo aunque se
mantenga la tasa de interés pues la forma de pago no presentaría grandes
modificaciones en sus cuotas, sólo disminuiría un poco el gradiente el cuál ya es
bastante pequeño en las condiciones planteadas, la cuota inicial se mantendría fija
por ende no representría beneficios considerables al deudor.

Se pudo constatar con los datos reales de una entidad fianciera naciona
BANCOLOMBIA para mi caso que las oportunidades de financiamiento a mediano
plazo presentan tasas elevadas lo cual aunque podría ser de gran ayuda para salir
de una crisis en un momento dado para una empresa, en el largo plazo esa tasa
elevada puede ser un gran riesgo financiero por las cuotas elevadas que éstas
conllevan.