1) t 0 FCx (200,000) VP 380,000.00 VPL 180,000.00 ILL 1.90 2) i 15.00% t 0 1 2 3 FCx (3,000) 1,200 3,200 4,500 FCx0 (3,000) 1,043 2,420 2,959 FCx_Ac (3,000) (1,957) 463 3,422 VP 6,421.96 VPL 3,421.96 ILL 2.14 TIR 62.47% PBD 0 1 0 0 PBD 2 3) i 8.00% t 0 1 2 3 FCx (9,000) 1,800 4,200 5,600 FCx0 (9,000) 1,667 3,601 4,445 FCx_Ac (9,000) (7,333) (3,733) 713
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1)
t 0
FCx (200,000)
VP 380,000.00
VPL 180,000.00
ILL 1.90
2) i 15.00%
t 0 1 2 3
FCx (3,000) 1,200 3,200 4,500
FCx0 (3,000) 1,043 2,420 2,959
FCx_Ac (3,000) (1,957) 463 3,422
VP 6,421.96
VPL 3,421.96
ILL 2.14
TIR 62.47%
PBD 0 1 0 0
PBD 2
3) i 8.00%
t 0 1 2 3
FCx (9,000) 1,800 4,200 5,600
FCx0 (9,000) 1,667 3,601 4,445
FCx_Ac (9,000) (7,333) (3,733) 713
VP 9,712.95
VPL 712.95
ILL 1.08
TIR 11.68%
PBD 0 1 1 0
PBD 3
4) i 12.00%
t 0 1 2 3
FCx (150,000) 62,000 74,200 85,600
FCx0 (150,000) 55,357 59,152 60,928
FCx_Ac (150,000) (94,643) (35,491) 25,437
VP 175,437.32
VPL 25,437.32
ILL 1.17
TIR 21.10%
PBD 0 1 1 0
PBD 3
VP VPL ILL
1 200,000 380,000.00 180,000.00 1.90
3 9,000 9,712.95 712.95 1.08
5 1,000,000 937,487.40 (62,512.60) 0.94
7 2,350 2,815.31 465.31 1.20
I0
5) i 17.00%
t 0 1 2 3
FCx (1,000,000) 280,000 460,000 580,000
FCx0 (1,000,000) 239,316 336,036 362,135 (62,513)
FCx_Ac (1,000,000) (760,684) (424,648) (62,513)
VP 937,487.40
VPL (62,512.60)
ILL 0.94
TIR 13.52%
PBD 0 1 1 1
PBD não existe
6)
t 0
FCx (3,200,000)
VP 4,000,000.00
VPL 800,000.00
ILL 1.25
7) i 8.00%
t 0 1 2 3 4
FCx (2,350) 850 850 850 850
FCx0 (2,350) 787 729 675 625
FCx_Ac (2,350) (1,563) (834) (159) 465
VP 2,815.31
VPL 465.31
ILL 1.20
TIR 16.61%
PBD 0 1 1 1 0
PBD 4
1) 20.00% 7)
t 1 2 3
FCx 880,000 670,000 950,000
FCx0 733,333 465,278 549,769 148,380
FCx_Ac (866,667) (401,389) 148,380
VP
VPL
ILL
TIR
PBD 1 1 0
PBD
2) 20.00% 8)
t 1 2 3 t
FCx 480,000 670,000 820,000 FCx
FCx0 400,000 465,278 474,537 139,815 FCx0
FCx_Ac (800,000) (334,722) 139,815 FCx_Ac
VP VP
VPL VPL
ILL ILL
TIR TIR
PBD 1 1 0 PBD
PBD PBD
3) 20.00% 9)
t 1 2 3 t
FCx 820,000 460,000 330,000 FCx
FCx0 683,333 319,444 190,972 (86,250) FCx0
FCx_Ac (596,667) (277,222) (86,250) FCx_Ac
VP VP
VPL VPL
ILL ILL
TIR TIR
PBD 1 1 1 PBD
PBD PBD
4) 20.00% 10)
t 1 2 3 t
FCx 380,000 670,000 120,000 FCx
FCx0 316,667 465,278 69,444 251,389 FCx0
FCx_Ac (283,333) 181,944 251,389 FCx_Ac
VP VP
VPL VPL
ILL ILL
TIR TIR
PBD 1 0 0 PBD
PBD PBD
5) 11)
SÓ CONCEITUAL
t
FCx
FCx0
FCx_Ac
VP
VPL
ILL
TIR
PBD
PBD
6) 20.00%
t 1
FCx 1,400,000
FCx0 1,166,667
FCx_Ac 166,667
VP
VPL
ILL
TIR
PBD 0
PBD
VP VPL TIR ILL
1 1,748,380 148,380 25.80% 1.09
2 1,339,815 139,815 26.67% 1.12
3 1,193,750 (86,250) 14.88% 0.93
4 851,389 251,389 47.95% 1.42
6 1,166,667 166,667 40.00% 1.17
8 2,815 465 16.61% 1.20
9 10,958 4,958 55.16% 1.83
10 2,886 (114) 9.85% 0.96
11 10,457,221 2,257,221 16.23% 1.28
SÓ CONCEITUAL
i 8.00%
0 1 2 3 4
(2,350) 850 850 850 850
(2,350) 787 729 675 625
(2,350) (1,563) (834) (159) 465
2,815.31
465.31
1.20
16.61%
0 1 1 1 0
4
i 10.00%
0 1 2 3
(6,000) 4,500 5,400 3,200
(6,000) 4,091 4,463 2,404
(6,000) (1,909) 2,554 4,958
10,957.93
4,957.93
1.83
55.16%
0 1 0 0
2
i 12.00%
0 1 2 3
(3,000) 1,100 1,200 1,331
(3,000) 982 957 947
(3,000) (2,018) (1,061) (114)
2,886.16
(113.84)
0.96
9.85%
0 1 1 1
não existe
i 12.00%
0 1 2 3 4 5 6
(8,200,000) 1,400,000 1,400,000 1,400,000 1,400,000 1,400,000 1,400,000
(8,200,000) 1,250,000 1,116,071 996,492 889,725 794,398 709,284
(8,200,000) ### ### ### ### ### ###
###
2,257,221.07
1.28
16.23%
0 1 1 1 1 1 1
11
7 8 9 10 11 12 13 14
1,400,000 1,400,000 1,400,000 1,400,000 1,400,000 1,400,000 1,400,000 1,400,000
633,289 565,437 504,854 450,763 402,467 359,345 320,844 286,468
### ### (740,450) (289,688) 112,779 472,124 792,968 1,079,436
1 1 1 1 0 0 0 0
15 16 17 18 19 20
1,400,000 1,400,000 1,400,000 1,400,000 1,400,000 1,400,000
255,775 228,370 203,902 182,055 162,549 145,133
1,335,210 1,563,581 1,767,483 1,949,538 2,112,088 2,257,221
0 0 0 0 0 0
3)
I (ou K) = 12.5898%
Investimento = (10,000)
Tempo 1 2 3
Fluxo 3,333.33 3,333.33 3,333.33
Em t = 0 2,960.60 2,629.54 2,335.51
FLUXO DE CAIXA ACUMULADOS
Pay-Back Simples 3,333.33 6,666.66 9,999.99
Pay-Back Descontado 2,960.60 5,590.14 7,925.65
4)
TMA = 20.00%
Investimento = (1,000,000)
Tempo 1 2 3 7 8 9 10
Fluxo 250,000 250,000 250,000 250,000 250,000 250,000 250,000
Em t = 0 208,333.33 173,611.11 144,675.93 69,770.41 58,142.01 48,451.67 40,376.40
Fluxos Acumulados 208,333.33 381,944.44 526,620.37 901,147.94 959,289.95 1,007,741.63 1,048,118.02
Outra forma de Fazer
Exercício
PV = (10,000)
PMT= 3,333.33
N= 4
TMA = 12.5898%
FLUXO
Projeto 1 2 3
A 2,200 242 0.0
B 1,100 2,420 133.1
C 0 2,420 2,928.2
D 1,100 0 2,928.2
I =
FLUXO DESCONTADO PARA DATA 0
Projeto 1 2 3
A 2,000 200 0
B 1,000 2,000 100
C 0 2,000 2,200
D 1,000 0 2,200
VPL TIR IL
A 200 20.08% 1.10
B 1,100 42.92% 1.55
C 1,300 27.53% 1.45
D 1,200 35.15% 1.60
PONTOS DE EQUILÍBRIO
FINANCEIRO CONTÁBIL
Quantidade ### Quantidade 58,750 comp./ano
PONTOS DE EQUILÍBRIO
ECONÔMICO
Quantidade ###
Quantidade de alunos 2,000.00
Receita Total 800,000
Gastos variáveis (170,000)
Comissão de vendas (40,000)
Impostos variáveis (80,000)
Apostilas e assemelhados (50,000)
LAIR 370,000
IR (148,000)
Resultado Financeiro 247,000
Resultado Contábil 222,000
+ Depreciação 25,000
- Custo de Reposição (43,151.95)
Resultado Econômico 203,848
VPL 7,085,939
PONTOS DE EQUILÍBRIO
Financeiro 746.03
Contábil 825.40
Econômico 921.44
Resultado
Financeiro ###
Contábil ###
Econômico ###
b
Quantidade de clientes 40.00
Receita Total 120,000
Gastos variáveis (86,000) PONTOS DE EQUILÍBRIO
Honorários advocatícios (24,000) Financeiro 18.24
Impostos sobre a receita (12,000) Contábil 22.35
Custas processuais (50,000) Econômico 30.37
Gastos Fixos Totais (19,000)
Gastos Fixos (15,500) PMT
Depreciação (3,500)
LAIR 15,000
IR (6,000)
Resultado Financeiro 12,500
Resultado Contábil 9,000
+ Depreciação 3,500
- Custo de Reposição (7,587.92)
Resultado Econômico 4,912
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