Opción 1 Inflación COP 2019 - 01

Libor + 8% TV Inflación USA 2019 - 04

Tasa libor respecto al Banco República

Devaluación histórica
Tasa efectiva anual
Devaluación teórica inflación
Devaluación histórica

Opción 2
IPC + 8% TV

IPC COP2019 04 3.25%

Tasa final 11.51% EA

Prime + 8% SV
3/3/2017 3.75%
1 3.6984% NTV
2 11.9943% NTV
 3 12.5446% EA
4 2.3749% EA Dev. Teórica inf
5 15.2175% EA

Tiempo inversión 5 años

Capital 3,500,000,000
Tasa 15.2175% EA
Dólar 03/03/2017 2,961

Valor futuro Valor generado

USD 7,106,562,537 3,606,562,537
COP 21,041,892,082,496 10,678,707,082,496

Opción 1 DAVIVIENDA DTF + 9,5%

DTF 21/09/2019 4.51% EA

Tasa final 14.010%

Opción 2 CHASE BANK PRIME + 7,5%

Inflación COP 08/19 3.75%

Inflación USA 08/19 1.75%

9/21/2019 5%
1 4.9089% NTV
2 12.77706% NTV
3 13.4024% EA
4 1.96560% EA - DEV TEO INF
5 15.63144% EA
 5/5/2019
Tasa de cambio
Capital requerido
USD 55,548,012
COP 180,000,000,000

Capital propio
USD 24,688,005
COP 80,000,000,000

Socio norteamericano
USD 9,000,000
COP 29,163,960,000

Crédito Bancolombia
3.25% USD 21,860,007
2.00% COP 70,836,040,000

2.61738% NSV
10.82677%
11.1198% EA
1.22549% EA
12.48158% EA

Según el procedimiento realizado, la tasa más atractiva es la opción 2 = IPC +

8% TV

Inflación USA 02/2017 5.18%

Inflación COP 02/2017 2.74%
 Flujo de dinero recaudado
Período Interés Saldo
- - 3,500,000,000
1 532,611,199 4,032,611,199
2 613,661,111 4,646,272,310
3 707,044,762 5,353,317,072
4 814,639,036 6,167,956,109
5 938,606,429 7,106,562,537
3,606,562,537 USD
10,678,707,082,496 COP

Respuestas
1. Respecto al costo de financiación la opción más favorable es el banco DAVIVIENDA
2. La opción 1 es más viable en la medida que no sobrepasa la rentabilidad esperada. La opción 2
de ninguna manera es viable en comparación con la 1.
3. El flujo de pagos se visualiza en las otras hojas de trabajo con lo solicitado.
3,240.44
Tasa 1.10%
Valor 550,000,000

N° Cuota Costo financiero Abono a k Saldo

0 $ 550,000,000
1 15,209,100 6,042,433 9,166,667 540,833,333
2 15,108,392 5,941,726 9,166,667 531,666,667
3 15,007,685 5,841,019 9,166,667 522,500,000
4 14,906,978 5,740,311 9,166,667 513,333,333
5 14,806,271 5,639,604 9,166,667 504,166,667
6 14,705,564 5,538,897 9,166,667 495,000,000
7 14,604,856 5,438,190 9,166,667 485,833,333
8 14,504,149 5,337,482 9,166,667 476,666,667
9 14,403,442 5,236,775 9,166,667 467,500,000
10 14,302,735 5,136,068 9,166,667 458,333,333
11 14,202,028 5,035,361 9,166,667 449,166,667
12 14,101,320 4,934,654 9,166,667 440,000,000
13 14,000,613 4,833,946 9,166,667 430,833,333
14 13,899,906 4,733,239 9,166,667 421,666,667
15 13,799,199 4,632,532 9,166,667 412,500,000
16 13,698,491 4,531,825 9,166,667 403,333,333
17 13,597,784 4,431,118 9,166,667 394,166,667
18 13,497,077 4,330,410 9,166,667 385,000,000
19 13,396,370 4,229,703 9,166,667 375,833,333
20 13,295,663 4,128,996 9,166,667 366,666,667
21 13,194,955 4,028,289 9,166,667 357,500,000
22 13,094,248 3,927,581 9,166,667 348,333,333
23 12,993,541 3,826,874 9,166,667 339,166,667
24 12,892,834 3,726,167 9,166,667 330,000,000
25 12,792,126 3,625,460 9,166,667 320,833,333
26 12,691,419 3,524,753 9,166,667 311,666,667
27 12,590,712 3,424,045 9,166,667 302,500,000
28 12,490,005 3,323,338 9,166,667 293,333,333
29 12,389,298 3,222,631 9,166,667 284,166,667
30 12,288,590 3,121,924 9,166,667 275,000,000
31 12,187,883 3,021,217 9,166,667 265,833,333
32 12,087,176 2,920,509 9,166,667 256,666,667
33 11,986,469 2,819,802 9,166,667 247,500,000
34 11,885,762 2,719,095 9,166,667 238,333,333
35 11,785,054 2,618,388 9,166,667 229,166,667
36 11,684,347 2,517,680 9,166,667 220,000,000
37 11,583,640 2,416,973 9,166,667 210,833,333
38 11,482,933 2,316,266 9,166,667 201,666,667
39 11,382,225 2,215,559 9,166,667 192,500,000
40 11,281,518 2,114,852 9,166,667 183,333,333
41 11,180,811 2,014,144 9,166,667 174,166,667
42 11,080,104 1,913,437 9,166,667 165,000,000
43 10,979,397 1,812,730 9,166,667 155,833,333
44 10,878,689 1,712,023 9,166,667 146,666,667
45 10,777,982 1,611,315 9,166,667 137,500,000
46 10,677,275 1,510,608 9,166,667 128,333,333
47 10,576,568 1,409,901 9,166,667 119,166,667
48 10,475,860 1,309,194 9,166,667 110,000,000
49 10,375,153 1,208,487 9,166,667 100,833,333
50 10,274,446 1,107,779 9,166,667 91,666,667
51 10,173,739 1,007,072 9,166,667 82,500,000
52 10,073,032 906,365 9,166,667 73,333,333
53 9,972,324 805,658 9,166,667 64,166,667
54 9,871,617 704,951 9,166,667 55,000,000
55 9,770,910 604,243 9,166,667 45,833,333
56 9,670,203 503,536 9,166,667 36,666,667
57 9,569,496 402,829 9,166,667 27,500,000
58 9,468,788 302,122 9,166,667 18,333,333
59 9,368,081 201,414 9,166,667 9,166,667
60 9,267,374 100,707 9,166,667 -
734,294,207 184,294,207 550,000,000
Tasa 1.218%
Valor 550,000,000

Mes Cuota Costo financiero Abono a k Saldo

0 550,000,000
1 15,863,842 6,697,175 9,166,667 540,833,333
2 15,752,222 6,585,556 9,166,667 531,666,667
3 15,640,603 6,473,936 9,166,667 522,500,000
4 15,528,983 6,362,317 9,166,667 513,333,333
5 15,417,364 6,250,697 9,166,667 504,166,667
6 15,305,744 6,139,077 9,166,667 495,000,000
7 15,194,125 6,027,458 9,166,667 485,833,333
8 15,082,505 5,915,838 9,166,667 476,666,667
9 14,970,885 5,804,219 9,166,667 467,500,000
10 14,859,266 5,692,599 9,166,667 458,333,333
11 14,747,646 5,580,980 9,166,667 449,166,667
12 14,636,027 5,469,360 9,166,667 440,000,000
13 14,524,407 5,357,740 9,166,667 430,833,333
14 14,412,787 5,246,121 9,166,667 421,666,667
15 14,301,168 5,134,501 9,166,667 412,500,000
16 14,189,548 5,022,882 9,166,667 403,333,333
17 14,077,929 4,911,262 9,166,667 394,166,667
18 13,966,309 4,799,642 9,166,667 385,000,000
19 13,854,689 4,688,023 9,166,667 375,833,333
20 13,743,070 4,576,403 9,166,667 366,666,667
21 13,631,450 4,464,784 9,166,667 357,500,000
22 13,519,831 4,353,164 9,166,667 348,333,333
23 13,408,211 4,241,544 9,166,667 339,166,667
24 13,296,592 4,129,925 9,166,667 330,000,000
25 13,184,972 4,018,305 9,166,667 320,833,333
26 13,073,352 3,906,686 9,166,667 311,666,667
27 12,961,733 3,795,066 9,166,667 302,500,000
28 12,850,113 3,683,446 9,166,667 293,333,333
29 12,738,494 3,571,827 9,166,667 284,166,667
30 12,626,874 3,460,207 9,166,667 275,000,000
31 12,515,254 3,348,588 9,166,667 265,833,333
32 12,403,635 3,236,968 9,166,667 256,666,667
33 12,292,015 3,125,349 9,166,667 247,500,000
34 12,180,396 3,013,729 9,166,667 238,333,333
35 12,068,776 2,902,109 9,166,667 229,166,667
36 11,957,156 2,790,490 9,166,667 220,000,000
37 11,845,537 2,678,870 9,166,667 210,833,333
38 11,733,917 2,567,251 9,166,667 201,666,667
39 11,622,298 2,455,631 9,166,667 192,500,000
40 11,510,678 2,344,011 9,166,667 183,333,333
41 11,399,058 2,232,392 9,166,667 174,166,667
42 11,287,439 2,120,772 9,166,667 165,000,000
43 11,175,819 2,009,153 9,166,667 155,833,333
44 11,064,200 1,897,533 9,166,667 146,666,667
45 10,952,580 1,785,913 9,166,667 137,500,000
46 10,840,961 1,674,294 9,166,667 128,333,333
47 10,729,341 1,562,674 9,166,667 119,166,667
48 10,617,721 1,451,055 9,166,667 110,000,000
49 10,506,102 1,339,435 9,166,667 100,833,333
50 10,394,482 1,227,815 9,166,667 91,666,667
51 10,282,863 1,116,196 9,166,667 82,500,000
52 10,171,243 1,004,576 9,166,667 73,333,333
53 10,059,623 892,957 9,166,667 64,166,667
54 9,948,004 781,337 9,166,667 55,000,000
55 9,836,384 669,718 9,166,667 45,833,333
56 9,724,765 558,098 9,166,667 36,666,667
57 9,613,145 446,478 9,166,667 27,500,000
58 9,501,525 334,859 9,166,667 18,333,333
59 9,389,906 223,239 9,166,667 9,166,667
60 9,278,286 111,620 9,166,667 -
754,263,850 204,263,850 550,000,000