Ciclo de Problemas 2
Ciclo de Problemas 2
Ciclo de Problemas 2
EL DINERO EN EL TIEMPO
CICLO DE PROBLEMAS 2
Elaboró:
Curso:
Docente:
Económicas y de Negocios
Abril 2018
CICLO DE PROBLEMAS 2
VP 60.000.000
ip 0,02
n 120
Cuota Fija 1.322.885,81
DESARROLLO
Vp = 1500000(1+0.02)((1-(1+002)24)/0,02)
Verificando en Excel:
VF = VP(1+ip)n
En donde:
VP = 21’061.693,8
ip = 2% (0,02)
CF = No se conoce
VF = 21’061.693,8(1+0.02)24
Vp= 80.000.000
ip= 24%/12=2%
C= Vp*ip/1-(1+ip)-n
C= 80.000.000*0,02/1- (1+0,02)-132
C= $1.726.453,93
n= 180
ip= 24%/12=2%
C= Vp*ip/1-(1+ip)-n
Vp=1.726.453,93*(1- (1+0,02)-180
80%= $ 83.878.736,57
X=(0,2*83.878.736,57)/0,8
X= $20.969.684,13
Desarrollo:
Valor presente anualidad vencida:
VP = C (1+ip)((1-(1+ip)-n)/ip)
C= Vp*ip/1-(1+ip)-n
En donde:
VP=65’000.000
n=6*12
ip= 0,16/12
C= No se conoce
C= (65’000.000*0,0133333333)/(1-(1+0,0133333333)-72)
C= $1’409.969,64 que es el pago de la cuota
Comprobando con Excel:
Pago de la cuota=1.409.969,64
VF = C (((1+ip)n-1)/ip)
VF = $2’390.030,36(((1+0,01)48-1)/0,01)
VF = $146’323.891,3 que es el saldo en el fondo a los 4 años.
Demostración por Excel:
6. Suponga que usted aspira a formar un fondo a base de depositar una
cantidad en una entidad financiera al finalizar cada uno de los próximos
16 trimestres. Se espera que la renta que reciba sea de 1.800.000 al
inicio de cada mes comenzando dentro de 4 años durante 36 meses.
Tasa mensual del 2%. ¿De cuántos serán los depósitos que usted debe
realizar?
ip=0,02
C=1.800.000
n=36 meses
Vp= C(1-(1+ip)-n/ip*(1+ip)n´-1)
Vp = 1.800.000 (1-(1+0,02)-36/0,02*(1+0,02)48-1)
Vp= 18.088.999,45
Desarrollo:
Costo de la motobomba = $12’000.000
Se pacta pagar el 30% del costo de la motobomba, entonces:
$12’000.000*0.3=$3’600.000
$12’000.000-$3’600.000=$8’400.000 esto es lo que se está
financiando a 36 meses
Por la fórmula de Anualidad Vencida tenemos:
VP=C ((1-(1+ip)-n)/(ip(1+ip)n’)
C=No se conoce (Cuota periódica)
ip= 1.5% (Tasa de interés periódica)
n= 36 (número de cuotas mensuales)
n’= 6 (Periodo de gracia)
VP= $8’400.000 (Valor del préstamo)
Despejando C, tenemos:
C= (VP*ip(1+ip)n’)/(1-(1+ip)-n)
Reemplazando, tenemos:
C = ($8’400.000*0.015(1+0.015)6)/(1-(1+0.015)-n)
C = $332.056,9841 que es el valor de la cuota
ip=2,27%
Vp=$50.000.000
n=60
C= Vp*ip/1-(1+ip)-n
C=50.000.000*0,0227/1-(1+0,0227)-60
C= 1.533.991,08
Respuesta:
- El interés es 2,27% nominal mensual.
- Capital en el pago No. 15= $42.963.891,32
Punto b
ip=2,27%
Vp=$50.000.000
n=66
n´=6
C= Vp*ip(1+ip)n´/1-(1+ip)-n
C= 50.000.000*0,0227(1+0,0227)6/1-(1+0,0227)-60
C= 1.298.629,898/0,7399
RTA: C= 1.755.091,72
VF = VP x (1 + r x n)
Donde:
VP= valor presente (el monto que invertimos hoy para ganar intereses)
n= número de períodos
VF= 6.630
VF = 1500 x (1 x 23)
VF=34.500-25%
VF: 25.875
Retiro prolongado a los 70 con incremento del beneficio de un 30%
comenzando a los 70 años
VF= 8.250
VF= 19.590
VF= 13.000.000
N= 60 meses
C= ¿
VF = C ((1+ip)^n-1))
Ip
Reemplazando tenemos
VF = 142801.57 ((1+0.013333)^35-1)
0.013333
VF = 6316393.10
Comprobamos en Excel
Intereses ganados hasta el mes 35
11. Se concede un crédito por $ 28.000.000 a una tasa del 24% anual
efectivo, con un plazo de 15 años para ser amortizado mediante cuotas
mensuales vencidas las cuales se incrementarán cada año en un 12%.
¿Cuál es el valor de las cuotas para los dos primeros años y para los dos
últimos años?
Para ip≠G
Reemplazando:
___(28000000x0.018(1+0.24)^15-(0.24-0.12)_____
((1+0.018)^12-1)((1+0.24)^15-(1+0.12)^15
C1= 12220.179
0 $82.000.000,00
1 $82.000.000,00 $98.400,00 $408.397,60 $506.797,60 $81.591.602,40
2 $81.591.602,40 $97.909,92 $408.887,68 $506.797,60 $81.182.714,72
3 $81.182.714,72 $97.419,26 $409.378,34 $506.797,60 $80.773.336,38
4 $80.773.336,38 $96.928,00 $409.869,60 $506.797,60 $80.363.466,79
5 $80.363.466,79 $96.436,16 $410.361,44 $506.797,60 $79.953.105,35
6 $79.953.105,35 $95.943,73 $410.853,87 $506.797,60 $79.542.251,48
7 $79.542.251,48 $95.450,70 $411.346,90 $506.797,60 $79.130.904,58
8 $79.130.904,58 $94.957,09 $411.840,51 $506.797,60 $78.719.064,07
9 $78.719.064,07 $94.462,88 $412.334,72 $506.797,60 $78.306.729,34
10 $78.306.729,34 $93.968,08 $412.829,52 $506.797,60 $77.893.899,82
11 $77.893.899,82 $93.472,68 $413.324,92 $506.797,60 $77.480.574,90
12 $77.480.574,90 $92.976,69 $413.820,91 $506.797,60 $77.066.753,99
13 $77.066.753,99 $92.480,10 $414.317,49 $506.797,60 $76.652.436,50
14 $76.652.436,50 $91.982,92 $414.814,68 $506.797,60 $76.237.621,82
15 $76.237.621,82 $91.485,15 $415.312,45 $506.797,60 $75.822.309,37
16 $75.822.309,37 $90.986,77 $415.810,83 $506.797,60 $75.406.498,54
17 $75.406.498,54 $90.487,80 $416.309,80 $506.797,60 $74.990.188,74
18 $74.990.188,74 $89.988,23 $416.809,37 $506.797,60 $74.573.379,37
19 $74.573.379,37 $89.488,06 $417.309,54 $506.797,60 $74.156.069,82
20 $74.156.069,82 $88.987,28 $417.810,32 $506.797,60 $73.738.259,51
21 $73.738.259,51 $88.485,91 $418.311,69 $506.797,60 $73.319.947,82
22 $73.319.947,82 $87.983,94 $418.813,66 $506.797,60 $72.901.134,16
23 $72.901.134,16 $87.481,36 $419.316,24 $506.797,60 $72.481.817,92
24 $72.481.817,92 $86.978,18 $419.819,42 $506.797,60 $72.061.998,50
25 $72.061.998,50 $86.474,40 $420.323,20 $506.797,60 $71.641.675,30
26 $71.641.675,30 $85.970,01 $420.827,59 $506.797,60 $71.220.847,71
27 $71.220.847,71 $85.465,02 $421.332,58 $506.797,60 $70.799.515,13
28 $70.799.515,13 $84.959,42 $421.838,18 $506.797,60 $70.377.676,95
29 $70.377.676,95 $84.453,21 $422.344,39 $506.797,60 $69.955.332,56
30 $69.955.332,56 $83.946,40 $422.851,20 $506.797,60 $69.532.481,36
31 $69.532.481,36 $83.438,98 $423.358,62 $506.797,60 $69.109.122,74
32 $69.109.122,74 $82.930,95 $423.866,65 $506.797,60 $68.685.256,09
33 $68.685.256,09 $82.422,31 $424.375,29 $506.797,60 $68.260.880,80
34 $68.260.880,80 $81.913,06 $424.884,54 $506.797,60 $67.835.996,26
35 $67.835.996,26 $81.403,20 $425.394,40 $506.797,60 $67.410.601,85
36 $67.410.601,85 $80.892,72 $425.904,88 $506.797,60 $66.984.696,98
Refinanciar al tercer año donde se debe un valor de $66.984.696,98
tasa de interés
13,20% mensual monto $66.984.697
N = 144
periodo
s inicial interés amort cuota final
$66.984.696,
98
$8.841.980, $8.841.980, $66.984.696,
37 $66.984.696,98 00 $0,16 16 82
$8.841.979, $8.841.980, $66.984.696,
38 $66.984.696,82 98 $0,18 16 65
$8.841.979, $8.841.980, $66.984.696,
39 $66.984.696,65 96 $0,20 16 45
$8.841.979, $8.841.980, $66.984.696,
40 $66.984.696,45 93 $0,23 16 22
$8.841.979, $8.841.980, $66.984.695,
41 $66.984.696,22 90 $0,26 16 97
$8.841.979, $8.841.980, $66.984.695,
42 $66.984.695,97 87 $0,29 16 68
$8.841.979, $8.841.980, $66.984.695,
43 $66.984.695,68 83 $0,33 16 35
$8.841.979, $8.841.980, $66.984.694,
44 $66.984.695,35 79 $0,37 16 98
$8.841.979, $8.841.980, $66.984.694,
45 $66.984.694,98 74 $0,42 16 56
$8.841.979, $8.841.980, $66.984.694,
46 $66.984.694,56 68 $0,48 16 08
$8.841.979, $8.841.980, $66.984.693,
47 $66.984.694,08 62 $0,54 16 54
$8.841.979, $8.841.980, $66.984.692,
48 $66.984.693,54 55 $0,61 16 93
$8.841.979, $8.841.980, $66.984.692,
49 $66.984.692,93 47 $0,69 16 24
$8.841.979, $8.841.980, $66.984.691,
50 $66.984.692,24 38 $0,78 16 46
$8.841.979, $8.841.980, $66.984.690,
51 $66.984.691,46 27 $0,88 16 58
$8.841.979, $8.841.980, $66.984.689,
52 $66.984.690,58 16 $1,00 16 58
$8.841.979, $8.841.980, $66.984.688,
53 $66.984.689,58 02 $1,13 16 44
$8.841.978, $8.841.980, $66.984.687,
54 $66.984.688,44 87 $1,28 16 16
$8.841.978, $8.841.980, $66.984.685,
55 $66.984.687,16 71 $1,45 16 71
$8.841.978, $8.841.980, $66.984.684,
56 $66.984.685,71 51 $1,64 16 07
$8.841.978, $8.841.980, $66.984.682,
57 $66.984.684,07 30 $1,86 16 21
$8.841.978, $8.841.980, $66.984.680,
58 $66.984.682,21 05 $2,11 16 10
$8.841.977, $8.841.980, $66.984.677,
59 $66.984.680,10 77 $2,38 16 72
$8.841.977, $8.841.980, $66.984.675,
60 $66.984.677,72 46 $2,70 16 02
$8.841.977, $8.841.980, $66.984.671,
61 $66.984.675,02 10 $3,05 16 96
$8.841.976, $8.841.980, $66.984.668,
62 $66.984.671,96 70 $3,46 16 51
$8.841.976, $8.841.980, $66.984.664,
63 $66.984.668,51 24 $3,91 16 59
$8.841.975, $8.841.980, $66.984.660,
64 $66.984.664,59 73 $4,43 16 16
$8.841.975, $8.841.980, $66.984.655,
65 $66.984.660,16 14 $5,02 16 14
$8.841.974, $8.841.980, $66.984.649,
66 $66.984.655,14 48 $5,68 16 47
$8.841.973, $8.841.980, $66.984.643,
67 $66.984.649,47 73 $6,43 16 04
$8.841.972, $8.841.980, $66.984.635,
68 $66.984.643,04 88 $7,28 16 76
$8.841.971, $8.841.980, $66.984.627,
69 $66.984.635,76 92 $8,24 16 53
$8.841.970, $8.841.980, $66.984.618,
70 $66.984.627,53 83 $9,32 16 20
$8.841.969, $8.841.980, $66.984.607,
71 $66.984.618,20 60 $10,55 16 65
$8.841.968, $8.841.980, $66.984.595,
72 $66.984.607,65 21 $11,95 16 70
$8.841.966, $8.841.980, $66.984.582,
73 $66.984.595,70 63 $13,52 16 17
$8.841.964, $8.841.980, $66.984.566,
74 $66.984.582,17 85 $15,31 16 86
$8.841.962, $8.841.980, $66.984.549,
75 $66.984.566,86 83 $17,33 16 53
$8.841.960, $8.841.980, $66.984.529,
76 $66.984.549,53 54 $19,62 16 91
$8.841.957, $8.841.980, $66.984.507,
77 $66.984.529,91 95 $22,21 16 71
$8.841.955, $8.841.980, $66.984.482,
78 $66.984.507,71 02 $25,14 16 56
$8.841.951, $8.841.980, $66.984.454,
79 $66.984.482,56 70 $28,46 16 11
$8.841.947, $8.841.980, $66.984.421,
80 $66.984.454,11 94 $32,22 16 89
$8.841.943, $8.841.980, $66.984.385,
81 $66.984.421,89 69 $36,47 16 42
$8.841.938, $8.841.980, $66.984.344,
82 $66.984.385,42 88 $41,28 16 14
$8.841.933, $8.841.980, $66.984.297,
83 $66.984.344,14 43 $46,73 16 41
$8.841.927, $8.841.980, $66.984.244,
84 $66.984.297,41 26 $52,90 16 51
$8.841.920, $8.841.980, $66.984.184,
85 $66.984.244,51 28 $59,88 16 63
$8.841.912, $8.841.980, $66.984.116,
86 $66.984.184,63 37 $67,79 16 85
$8.841.903, $8.841.980, $66.984.040,
87 $66.984.116,85 42 $76,73 16 11
$8.841.893, $8.841.980, $66.983.953,
88 $66.984.040,11 29 $86,86 16 25
$8.841.881, $8.841.980, $66.983.854,
89 $66.983.953,25 83 $98,33 16 92
$8.841.868, $8.841.980, $66.983.743,
90 $66.983.854,92 85 $111,31 16 61
$8.841.854, $8.841.980, $66.983.617,
91 $66.983.743,61 16 $126,00 16 61
$8.841.837, $8.841.980, $66.983.474,
92 $66.983.617,61 53 $142,63 16 98
$8.841.818, $8.841.980, $66.983.313,
93 $66.983.474,98 70 $161,46 16 52
$8.841.797, $8.841.980, $66.983.130,
94 $66.983.313,52 38 $182,77 16 75
$8.841.773, $8.841.980, $66.982.923,
95 $66.983.130,75 26 $206,90 16 85
$8.841.745, $8.841.980, $66.982.689,
96 $66.982.923,85 95 $234,21 16 64
$8.841.715, $8.841.980, $66.982.424,
97 $66.982.689,64 03 $265,12 16 52
$8.841.680, $8.841.980, $66.982.124,
98 $66.982.424,52 04 $300,12 16 40
$8.841.640, $8.841.980, $66.981.784,
99 $66.982.124,40 42 $339,74 16 66
$8.841.595, $8.841.980, $66.981.400,
100 $66.981.784,66 58 $384,58 16 08
$8.841.544, $8.841.980, $66.980.964,
101 $66.981.400,08 81 $435,35 16 73
$8.841.487, $8.841.980, $66.980.471,
102 $66.980.964,73 34 $492,81 16 92
$8.841.422, $8.841.980, $66.979.914,
103 $66.980.471,92 29 $557,86 16 06
$8.841.348, $8.841.980, $66.979.282,
104 $66.979.914,06 66 $631,50 16 55
$8.841.265, $8.841.980, $66.978.567,
105 $66.979.282,55 30 $714,86 16 69
$8.841.170, $8.841.980, $66.977.758,
106 $66.978.567,69 94 $809,22 16 47
$8.841.064, $8.841.980, $66.976.842,
107 $66.977.758,47 12 $916,04 16 43
$8.840.943, $8.841.980, $66.975.805,
108 $66.976.842,43 20 $1.036,96 16 48
$8.840.806, $8.841.980, $66.974.631,
109 $66.975.805,48 32 $1.173,83 16 64
$8.840.651, $8.841.980, $66.973.302,
110 $66.974.631,64 38 $1.328,78 16 86
$8.840.475, $8.841.980, $66.971.798,
111 $66.973.302,86 98 $1.504,18 16 68
$8.840.277, $8.841.980, $66.970.095,
112 $66.971.798,68 43 $1.702,73 16 95
$8.840.052, $8.841.980, $66.968.168,
113 $66.970.095,95 67 $1.927,49 16 46
$8.839.798, $8.841.980, $66.965.986,
114 $66.968.168,46 24 $2.181,92 16 54
$8.839.510, $8.841.980, $66.963.516,
115 $66.965.986,54 22 $2.469,93 16 60
$8.839.184, $8.841.980, $66.960.720,
116 $66.963.516,60 19 $2.795,97 16 64
$8.838.815, $8.841.980, $66.957.555,
117 $66.960.720,64 12 $3.165,03 16 61
$8.838.397, $8.841.980, $66.953.972,
118 $66.957.555,61 34 $3.582,82 16 79
$8.837.924, $8.841.980, $66.949.917,
119 $66.953.972,79 41 $4.055,75 16 04
$8.837.389, $8.841.980, $66.945.325,
120 $66.949.917,04 05 $4.591,11 16 93
$8.836.783, $8.841.980, $66.940.128,
121 $66.945.325,93 02 $5.197,13 16 80
$8.836.097, $8.841.980, $66.934.245,
122 $66.940.128,80 00 $5.883,16 16 64
$8.835.320, $8.841.980, $66.927.585,
123 $66.934.245,64 42 $6.659,73 16 91
$8.834.441, $8.841.980, $66.920.047,
124 $66.927.585,91 34 $7.538,82 16 09
$8.833.446, $8.841.980, $66.911.513,
125 $66.920.047,09 22 $8.533,94 16 15
$8.832.319, $8.841.980, $66.901.852,
126 $66.911.513,15 74 $9.660,42 16 73
$8.831.044, $8.841.980, $66.890.917,
127 $66.901.852,73 56 $10.935,60 16 13
$8.829.601, $8.841.980, $66.878.538,
128 $66.890.917,13 06 $12.379,10 16 04
$8.827.967, $8.841.980, $66.864.524,
129 $66.878.538,04 02 $14.013,14 16 90
$8.826.117, $8.841.980, $66.848.662,
130 $66.864.524,90 29 $15.862,87 16 03
$8.824.023, $8.841.980, $66.830.705,
131 $66.848.662,03 39 $17.956,77 16 26
$8.821.653, $8.841.980, $66.810.378,
132 $66.830.705,26 09 $20.327,06 16 20
$8.818.969, $8.841.980, $66.787.367,
133 $66.810.378,20 92 $23.010,23 16 96
$8.815.932, $8.841.980, $66.761.320,
134 $66.787.367,96 57 $26.047,59 16 38
$8.812.494, $8.841.980, $66.731.834,
135 $66.761.320,38 29 $29.485,87 16 51
$8.808.602, $8.841.980, $66.698.456,
136 $66.731.834,51 16 $33.378,00 16 51
$8.804.196, $8.841.980, $66.660.672,
137 $66.698.456,51 26 $37.783,90 16 61
$8.799.208, $8.841.980, $66.617.901,
138 $66.660.672,61 78 $42.771,37 16 24
$8.793.562, $8.841.980, $66.569.484,
139 $66.617.901,24 96 $48.417,19 16 05
$8.787.171, $8.841.980, $66.514.675,
140 $66.569.484,05 89 $54.808,26 16 78
$8.779.937, $8.841.980, $66.452.632,
141 $66.514.675,78 20 $62.042,95 16 83
$8.771.747, $8.841.980, $66.382.400,
142 $66.452.632,83 53 $70.232,62 16 21
$8.762.476, $8.841.980, $66.302.896,
143 $66.382.400,21 83 $79.503,33 16 87
$8.751.982, $8.841.980, $66.212.899,
144 $66.302.896,87 39 $89.997,77 16 11
$8.740.102, $8.841.980, $66.111.021,
145 $66.212.899,11 68 $101.877,48 16 63
$8.726.654, $8.841.980, $65.995.696,
146 $66.111.021,63 86 $115.325,30 16 33
$8.711.431, $8.841.980, $65.865.148,
147 $65.995.696,33 92 $130.548,24 16 09
$8.694.199, $8.841.980, $65.717.367,
148 $65.865.148,09 55 $147.780,61 16 48
$8.674.692, $8.841.980, $65.550.079,
149 $65.717.367,48 51 $167.287,65 16 83
$8.652.610, $8.841.980, $65.360.710,
150 $65.550.079,83 54 $189.369,62 16 21
$8.627.613, $8.841.980, $65.146.343,
151 $65.360.710,21 75 $214.366,41 16 80
$8.599.317, $8.841.980, $64.903.681,
152 $65.146.343,80 38 $242.662,78 16 02
$8.567.285, $8.841.980, $64.628.986,
153 $64.903.681,02 89 $274.694,26 16 76
$8.531.026, $8.841.980, $64.318.032,
154 $64.628.986,76 25 $310.953,91 16 85
$8.489.980, $8.841.980, $63.966.033,
155 $64.318.032,85 34 $351.999,82 16 03
$8.443.516, $8.841.980, $63.567.569,
156 $63.966.033,03 36 $398.463,80 16 23
$8.390.919, $8.841.980, $63.116.508,
157 $63.567.569,23 14 $451.061,02 16 21
$8.331.379, $8.841.980, $62.605.907,
158 $63.116.508,21 08 $510.601,07 16 14
$8.263.979, $8.841.980, $62.027.906,
159 $62.605.907,14 74 $578.000,41 16 73
$8.187.683, $8.841.980, $61.373.610,
160 $62.027.906,73 69 $654.296,47 16 26
$8.101.316, $8.841.980, $60.632.946,
161 $61.373.610,26 55 $740.663,60 16 66
$8.003.548, $8.841.980, $59.794.515,
162 $60.632.946,66 96 $838.431,20 16 46
$7.892.876, $8.841.980, $58.845.411,
163 $59.794.515,46 04 $949.104,12 16 34
$7.767.594, $1.074.385, $8.841.980, $57.771.025,
164 $58.845.411,34 30 86 16 48
$7.625.775, $1.216.204, $8.841.980, $56.554.820,
165 $57.771.025,48 36 79 16 69
$7.465.236, $1.376.743, $8.841.980, $55.178.076,
166 $56.554.820,69 33 83 16 86
$7.283.506, $1.558.474, $8.841.980, $53.619.602,
167 $55.178.076,86 15 01 16 85
$7.077.787, $1.764.192, $8.841.980, $51.855.410,
168 $53.619.602,85 58 58 16 27
$6.844.914, $1.997.066, $8.841.980, $49.858.344,
169 $51.855.410,27 16 00 16 26
$6.581.301, $2.260.678, $8.841.980, $47.597.665,
170 $49.858.344,26 44 71 16 55
$6.282.891, $2.559.088, $8.841.980, $45.038.577,
171 $47.597.665,55 85 30 16 24
$5.945.092, $2.896.887, $8.841.980, $42.141.689,
172 $45.038.577,24 20 96 16 28
$5.562.702, $3.279.277, $8.841.980, $38.862.412,
173 $42.141.689,28 99 17 16 11
$5.129.838, $3.712.141, $8.841.980, $35.150.270,
174 $38.862.412,11 40 76 16 35
$4.639.835, $4.202.144, $8.841.980, $30.948.125,
175 $35.150.270,35 69 47 16 88
$4.085.152, $4.756.827, $8.841.980, $26.191.298,
176 $30.948.125,88 62 54 16 34
$3.457.251, $5.384.728, $8.841.980, $20.806.569,
177 $26.191.298,34 38 78 16 56
$2.746.467, $6.095.512, $8.841.980, $14.711.056,
178 $20.806.569,56 18 97 16 59
$1.941.859, $6.900.120, $8.841.980, $7.810.935,9
179 $14.711.056,59 47 69 16 0
$1.031.043, $7.810.936, $8.841.980,
180 $7.810.935,90 54 62 16 ($0,72)
¿Cuál debe ser el valor de las cuotas sabiendo que la tasa de interés de
refinanciación es del 1,1% mensual? $8.841.980,16
Por otra parte, al tener alzas en las tasas de interés esto hace que
aumentan las transferencias de reservas. Se utilizan datos de 75 países
entre 2000 y 2013, mostrando la relación entre los cambios en las tasas
de interés y las transferencias de reservas como porcentaje del PIB