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    Formulario Actualizado 2019

    Uploaded by

    Luis Angel AF
    The document contains formulas for calculating: 1) The present value (VAE) and future value (CAE) of an investment using a constant discount rate. 2) Accumulated inflation (πacum n) from year to year inflation rates (π1, π2, etc.). 3) The price in year 0 (Precioaño 0) adjusted for inflation over multiple years. 4) The real discount rate (COK real) given the nominal rate and inflation.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd

    Formulario Actualizado 2019

    Uploaded by

    Luis Angel AF
    17 views1 page
    The document contains formulas for calculating: 1) The present value (VAE) and future value (CAE) of an investment using a constant discount rate. 2) Accumulated inflation (πacum n) from year to year inflation rates (π1, π2, etc.). 3) The price in year 0 (Precioaño 0) adjusted for inflation over multiple years. 4) The real discount rate (COK real) given the nominal rate and inflation.

    Original Title

    FORMULARIO ACTUALIZADO 2019

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    © © All Rights Reserved

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    The document contains formulas for calculating: 1) The present value (VAE) and future value (CAE) of an investment using a constant discount rate. 2) Accumulated inflation (πacum n) from year to year inflation rates (π1, π2, etc.). 3) The price in year 0 (Precioaño 0) adjusted for inflation over multiple years. 4) The real discount rate (COK real) given the nominal rate and inflation.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    17 views1 page

    Formulario Actualizado 2019

    Uploaded by

    Luis Angel AF
    The document contains formulas for calculating: 1) The present value (VAE) and future value (CAE) of an investment using a constant discount rate. 2) Accumulated inflation (πacum n) from year to year inflation rates (π1, π2, etc.). 3) The price in year 0 (Precioaño 0) adjusted for inflation over multiple years. 4) The real discount rate (COK real) given the nominal rate and inflation.

    Copyright:

    © All Rights Reserved
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    Download as pdf or txt
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    FORMULAS

    𝐶𝑂𝐾 ∗ (1 + 𝐶𝑂𝐾)𝑡 𝐶𝑂𝐾 ∗ (1 + 𝐶𝑂𝐾)𝑡


    𝑉𝐴𝐸 = 𝑉𝑃𝑁 ∗ 𝐶𝐴𝐸 = 𝑉𝑃𝑁 ∗
    (1 + 𝐶𝑂𝐾)𝑡 − 1 (1 + 𝐶𝑂𝐾)𝑡 − 1

    𝜋𝑎𝑐𝑢𝑚 𝑛 = (1 + 𝜋1 ) ∗ (1 + 𝜋2 ) ∗ … ∗ (1 + 𝜋𝑛 ) − 1
    𝑃𝑟𝑒𝑐𝑖𝑜𝑛
    𝑃𝑟𝑒𝑐𝑖𝑜𝑎ñ𝑜 0 =
    (1 + 𝜋1 ) ∗ (1 + 𝜋2 ) ∗ … ∗ (1 + 𝜋𝑛 )

    𝐶𝑂𝐾𝑛𝑜𝑚 − 𝜋 𝐶𝑂𝐾𝑛𝑜𝑚 = 𝐶𝑂𝐾𝑟𝑒𝑎𝑙 ∗ (1 + 𝜋) + 𝜋


    𝐶𝑂𝐾 𝑟𝑒𝑎𝑙 =
    1+𝜋

    𝑉𝐿 = 𝑉𝐴 − 𝐷𝐸𝑃, 𝐴𝑀𝑂𝑅𝑇, 𝐴𝐺𝑂𝑇 𝑎𝑐𝑢𝑚 𝑉𝑎𝑙𝑜𝑟 𝑑𝑒 𝑅𝑒𝑠𝑐𝑎𝑡𝑒 = 𝑉𝑀 − (𝑉𝑀 − 𝑉𝐿) ∗ 𝐼𝑅

    𝐸𝐹𝐼 = 𝑖 ∗ 𝐼𝑅 𝑊𝐴𝐶𝐶 = 𝑊𝑒 ∗ 𝑅𝑒 + 𝑊𝑑 ∗ 𝑅𝑑 ∗ (1 − 𝑡)

    𝑖 ∗ (1 + 𝑖)𝑛
    𝐶𝑢𝑜𝑡𝑎 𝐶𝑜𝑛𝑠 = 𝐷𝑒𝑢𝑑𝑎 ∗ [ ]
    (1 + 𝑖)𝑛 − 1

    MEDICION DE RIESGO DE UN PROYECTO

    𝑛 𝑛
    𝐸(𝐹𝐶)
    𝐸(𝐹𝐶𝑡 ) = ∑ 𝐹𝐶𝑡 ∗ 𝑃𝑡 𝐸(𝑉𝐴𝑁) = −𝐼𝑛𝑣 + ∑
    (1 + 𝑟)𝑡
    𝑡=1 𝑡=1
    𝑛
    2
    𝑉(𝐹𝐶𝑡 ) = 𝜎𝑡2 = ∑(𝐹𝐶𝑡 − 𝐸(𝐹𝐶𝑡 )) ∗ 𝑃𝑡
    𝑡=1

    𝐷𝑆(𝐹𝐶𝑡 ) = 𝜎𝑡 = √∑(𝐹𝐶𝑡 − 𝐸(𝐹𝐶𝑡 ))2 ∗ 𝑃𝑡


    𝑡=1

    𝑆𝑖 𝑙𝑜𝑠 𝑓𝑙𝑢𝑗𝑜𝑠 𝑑𝑒 𝑐𝑎𝑑𝑎 𝑝𝑒𝑟í𝑜𝑑𝑜 𝑠𝑜𝑛 𝑖𝑛𝑑𝑒𝑝𝑒𝑛𝑑𝑖𝑒𝑛𝑡𝑒𝑠


    𝑛
    𝜎 2 (𝐹𝐶𝑡 )
    𝑉(𝑉𝐴𝑁) = ∑
    (1 + 𝑟)2𝑡
    𝑡=1

    𝑆𝑖 𝑙𝑜𝑠 𝑓𝑙𝑢𝑗𝑜𝑠 𝑑𝑒 𝑐𝑎𝑗𝑎 𝑒𝑠𝑡á𝑛 𝑝𝑒𝑟𝑓𝑒𝑐𝑡𝑎𝑚𝑒𝑛𝑡𝑒 𝑐𝑜𝑟𝑟𝑒𝑙𝑎𝑐𝑖𝑜𝑛𝑎𝑑𝑜𝑠


    𝑛 2
    𝜎(𝐹𝐶𝑡 )
    𝑉(𝑉𝐴𝑁) = [∑ ]
    (1 + 𝑟)𝑡
    𝑡=1

    𝑉𝐴𝑁0 − 𝐸(𝑉𝐴𝑁)
    𝑍0 =
    𝜎(𝑉𝐴𝑁)

    DETERMINACIÓN DEL COK


    𝐶𝑂𝐾𝑝𝑟𝑜𝑦 = 𝑟𝑓 + 𝛽𝑙𝑝𝑟𝑜𝑦 ∗ (𝑟𝑚 − 𝑟𝑓 ) + 𝑅𝑃

    𝛽𝑙𝐴
    𝛽𝑢𝐴 =
    𝐷𝐴
    [1 + (1 − 𝑡𝐴 ) ∗ ]
    𝐸𝐴

    𝐷𝑝𝑟𝑜𝑦
    𝛽𝑙𝑝𝑟𝑜𝑦 = 𝛽𝑢 ∗ [1 + (1 − 𝑡𝑃𝑒𝑟ú ) ∗ ]
    𝐸𝑝𝑟𝑜𝑦

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