Periodos

Tasa Cupon 10% TOTAL

Valor Nominal $1,000.00
Flujo de Intereses $100.00
Flujo

VP Intereses $614.46
VP Monto $385.54
Valor del Bono (B10) $1,000.00

Valor de Intereses (B5) $379.08

Valor del Monto Período 5 $620.92
Valor del Bono (B5) $1,000.00

VP Intereses
Tasa Mercado 10% VP Monto
Valor Bono

Periodos
Tasa Mercado 7% VP Intereses
Valor Nominal $1,000.00 Tasa Mercado 7% VP Monto
Flujo de Intereses $100.00 Valor Bono

Periodos
Tasa Mercado 15% VP Intereses
Valor Nominal $1,000.00 Tasa Mercado 15% VP Monto
Flujo de Intereses $100.00 Valor Bono
 1 2 3 4 5 6 7 8

$100.00 $100.00 $100.00 $100.00 $100.00 $100.00 $100.00 $100.00

$100.00 $100.00 $100.00 $100.00 $100.00 $100.00 $100.00 $100.00

$90.91 $82.64 $75.13 $68.30 $62.09 $56.45 $51.32 $46.65

1 2 3 4 5
$90.91 $82.64 $75.13 $68.30 $62.09

$575.90 $533.49 $486.84 $435.53 $379.08 $316.99 $248.69 $173.55

$424.10 $466.51 $513.16 $564.47 $620.92 $683.01 $751.31 $826.45
$1,000.00 $1,000.00 $1,000.00 $1,000.00 $1,000.00 $1,000.00 $1,000.00 $1,000.00

$651.52 $597.13 $538.93 $476.65 $410.02 $338.72 $262.43 $180.80

$543.93 $582.01 $622.75 $666.34 $712.99 $762.90 $816.30 $873.44
$1,195.46 $1,179.14 $1,161.68 $1,143.00 $1,123.01 $1,101.62 $1,078.73 $1,054.24

$477.16 $448.73 $416.04 $378.45 $335.22 $285.50 $228.32 $162.57

$284.26 $326.90 $375.94 $432.33 $497.18 $571.75 $657.52 $756.14
$761.42 $775.63 $791.98 $810.78 $832.39 $857.25 $885.84 $918.71
 9 10

$100.00 $100.00 Intereses

$1,000.00 Monto
$100.00 $1,100.00

$42.41 $38.55

$90.91 $0.00
$909.09 $1,000.00
$1,000.00 $1,000.00

$93.46 $0.00
$934.58 $1,000.00
$1,028.04 $1,000.00

$86.96 $0.00
$869.57 $1,000.00
$956.52 $1,000.00
 1 2 3 4
Valor nominal $1,000.00
Tasa cupon 0
TIR (tasa dscto) 12%

Flujo de Intereses 0 0 0 0

Valor presente $321.97 $360.61 $403.88 $452.35 $506.63

Ganancia de capital $38.64 $43.27 $48.47 $54.28
Rentabilidad 12% 12% 12% 12%

1 2 3 4
Valor nominal $1,000.00
Tasa cupon 12%
TIR (tasa dscto) 12%

Flujo de Intereses $120.00 $120.00 $120.00 $120.00

Valor presente $321.97 $360.61 $403.88 $452.35 $506.63

Ganancia de capital $38.64 $43.27 $48.47 $54.28
Rentabilidad 12% 12% 12% 12%
 5 6 7 8 9 10

0 0 0 0 0 1000

$567.43 $635.52 $711.78 $797.19 $892.86 $1,000.00

$60.80 $68.09 $76.26 $85.41 $95.66 $107.14
12% 12% 12% 12% 12% 12%

5 6 7 8 9 10

$120.00 $120.00 $120.00 $120.00 $120.00 1000

$567.43 $635.52 $711.78 $797.19 $892.86 $1,000.00

$60.80 $68.09 $76.26 $85.41 $95.66 $107.14
12% 12% 12% 12% 12% 12%
Rendimiento Actual = Rendimiento de Intereses
En este caso es 0
a)

b)

c)
 Valor del bono $1,000.00
Tasa cupón 0%
INT 0
Tasa de mercado 11%
Periodos que faltan 3

Valor actual $731.19

Rendimiento actual -> 0 Porque los intereses son 0

0 1 2 3
$731.19 $811.62 $900.90 $1,000.00
11% 11% 11%
Para el que ahorita está vendiendo en $929 Para el que ahorita está comprando en $929

Valor del bono $1,000.00 Valor inicial $929.00

Tasa cupon 4% Tasa cupon 4%
Tiempo restante 9 Tiempo restante 9
Valor actual $929.00 Valor final $1,000.00
INT $40.00 INT $40.00

Rendimiento actual 4.00% Rendimiento actual 4.31%

Rendimiento ganancia de capital -7.10% Rendimiento ganancia de capital 7.64%

Rendimiento del bono -3.10% Rendimiento del bono 11.95%

Sale perdiendo Saldría ganando