A car is purchased for the Company's Management. It must be paid within 48.

months one overdue payment of $1,843,369. The financing of the vehicle according to the
distributor, is affected by a rate of 1% per month. What will the cost of
counted? Answer: $70,000,000

1,843.369 n = 48 months i = 1% monthly VP?

VP = A [(1- (1+ i)-n) / i]

VP=1843369((1−(1+0.01)¿¿−48)/0.01)=70,000,000¿

A commercial company sells sound equipment with an initial fee of $500,000 and 24
monthly payments of $185,500. If 30% is charged with monthly capitalization, find the
cash value. Answer: $3,817,664.87.

185.5000
30/12=2,52,5/100=0.025

VP = A [(1 - (1 + i)-n

185500((1−(1+0.025)¿¿−24)/0.025)=3,317,664.872+500,000¿3,817,664.87
 3. Pedro Pica piedra must pay a fee of $100,000 semiannually for 10 years.
agreed at 16% semiannually. Upon making the ninth payment, he wants to settle his balance with a
lump sum payment. How much should you pay at that moment to settle your debt? Answer.
$502,864.44

n = 20 - 9 performed remains = 11

A = 100,000 semiannual n = 11 semesters i = 16/100 = 0.16 semestral

VP = A [(1- (1+ i)-n

VP=100000((1−(1+0.16)¿¿−11)/0.16)=502,864.44¿

4. Calculate the cash value of an industrial equipment purchased as follows: $150,000 per installment.
initial payment and 12 quarterly payments of $80,000, at an interest rate of 40% capitalizable
quarterly. Response $695,095.34.

A= 80,000 n= 12 quarterly i = 0.1 quarterly

VP = A [(1- (1+ i)-n VF = A [((1 + i)n- 1) / i]

VP=80,000((1−(1+0,1)¿¿−12)/0,1)=545,095.34+ 150,000=695,095.34¿

5. Calculate the value of the semiannual deposits necessary in a savings account that
pay 30% with semiannual compounding, to have a capital of $19 in 5 years
560,000. Response: $963,370.34.
30/2=15 15/100 = 0.15

A=? i = 0.15 semi-annually 10 semesters

A = VF / [((1 + i)n– 1) / i]
A=19560000/(((1+0.15)¿¿10−1)/0.15)=963,370.34¿
 6. A financial entity offers you a loan of $1,000,000 for 3 years at an interest rate of
34% interest CT and you can pay it off in equal monthly installments.
Find the amount of the installment and if after paying installment 30 he decides to cancel the remaining balance with
un solo pago, calcule el valor del pago. Rta. $44.155,88 y $241.238,25.

A=? n= 36 monthly i = 0.027566441 monthly 1000.000

monthly

34/4= 8.5 8.5/100 = 0.085

( 1+0.0854) −−−−−−− ( 1+ i12)

1,385858701 --------------------- 1 + i

√1,3858587011+i
12

1,027566442 - 1
i = 0.027566441

A = VP / [(1 - (1 + i)-n

1,000,000/((1−(1+ 0.027566441)¿¿−36)/0.027566441)=44,155.88¿

VP = A [(1 - (1 + i)) / i]
VP=44155.88((1−(1+0.027566441)¿¿−6)/0.027566441)=241,142.25¿
 7. The owner of a house has the option to sell it for cash for $45,000,000 or
to rent it for $400,000 monthly for 3 years when I expect to sell for $75
000,000. If the interest rate is 24% per month, what decision should be made? Answer: Accept the
second alternative.

A= n=

8. From what date should monthly deposits of $4,236.405 be made into a fund?
which recognizes an interest rate of 2.41% per month, to be satisfied on the 30th of
December to a debt of $27,000,000 acquired with Bancafe? Answer: July 30.

4,236.405 n=? i= 2.41 mensual = 0,0241

n = (log A - log (A - VP.i)) / log (1+i)

n= ( log 4' 236.405−log(4' 236.405−27' .000.000∗0.0241) ) /log(1+0.0241)=7=JULIO

9. A newlywed couple buys an apartment for $50,000,000 paying a rate

of interest of 3% per month. If the couple can make monthly payments at the end of each month of
$1,806.648, when will the apartment be fully paid off? Answer: 60 months.

50,000,000 3% monthly

n = (log A - log (A - VP.i)) / log (1+i)

n= ( log1' .806.648−log(1' .806.648−50' 000.000∗0.03) ) / log(1+0.03)=60

10. To advance a citrus crop, a loan is obtained from the Agricultural Bank for
$85,000,000 with a four-year term. The debt repayment allows that in the
in the first year only interest is paid, and in the remaining three years, the payments to
capital must be equal semiannual installments. The Bank applies a rate to the debt of
28%
344,257.18

85,000,000 n= 4 years i= 28%

11. For the construction of a warehouse, an exporter receives a loan from Bancoldex for
Value of $50,000,000 over six years at an interest rate of 12% CT. What is the annual installment or payment?
Should it be executed? Prepare the amortization schedule of the debt. Answer: $12,351.618.18

50,000,000 6 years
 ¿?
$293,255.94

A= 2.000 n = 20 i=18%

VF = A [((1 + i)n
VF=2.000(((1+0.18)¿¿20−1)/0.18)=293,255.94¿

VP = A [(1 - (1 + i)-n) / i]
VF=2,000((1−( 1+ 0.18)¿¿20)/0.18)=10,705.49¿

13. For the purchase of a car that costs $6,000,000, a down payment of 40% is required and
the rest is canceled in 36 monthly installments, how much will the installment amount to if the interest
What is 3.5% of EM? Answer: $177,422.99.

6,000,000 n= 36 monthly A=? i= 0.035

VP = 6000000 - 40% = 3,600,000

A = VP / [(1- (1+ i)-n

A=3600000/((1−(1+ 0.035)¿¿−36)/0.035)=177,422.99¿

14. If in the previous problem 2 extraordinary installments are offered: the first one for $350,000.
in month 5 and the second of $500,000 in month 18, what will be the value of the installment?
ordinary? Answer: 149,633.07.

n=36 n= 5 n= 18 i = 0.035 monthly

VP1= 350,000

VP2= 500.000

A=VP(1+ i)−n A=350,000(1+0.035)−5=294,690.61

A=VP(1+ i)−n A=500,000(1+0.035)−18=269,180.57=¿

3,036,128.82

A = VP / [(1- (1+ i)-n

A=3' 36,128.82/((1−(1+0.035)¿¿−36)/0.035)=149.633,07¿
15. A person goes to buy a machine that costs $800,000. In order to be able to
have that amount available on December 15, 2014, start making deposits
monthly deposits of $A in a fund that pays 30% CM. If the first deposit is made on the 15th of
February 2013, find the value of the monthly deposit. Answer: $26,157.10.

VP= 800.000 ? i = 30/12 = 2.5 i= 2.5/100= 0.025

VF / [((1 + i)n
A=800,000/(((1+0.025)¿¿23−1)/0.025)=26,157.10¿

16. A document stipulates quarterly payments of $10,000 starting with the first payment on the 20th of
January 1987 and ending on July 20, 1995. If you wish to change this document.
for another that stipulates quarterly payments of $A starting on April 20, 1988 and
ending on July 20, 1989. Find the value of the payment assuming a rate of
20% CT. Rta. $41,172.87.

A= 10.000 n=35 A=? new i= 0,05

VP = A [(1- (1+ i)-n

VP=10,000((1−(1+0.05)¿¿−35)/0.05)=163,741.94¿

A = VP / [(1 - (1 + i)-n) / i]

A=163,741.94/((1−(1+0.05)¿¿−8)/0.05)=¿ ¿

17. A debt of $800,000 will be settled in quarterly payments of $78,000 during

as long as necessary. Assuming a 30% CT rate, how many payments
Should they be done? Answer: 20.

A= 78.000 i = 0.075 800,000

n = (log A - log (A - VP. i)) / log (1 + i)

 ( log78.000−log ( 78,000−800,000∗0.075 ) ) / log(1+0.075)=20

18. Solve the previous exercise if the rate is 42% CT. Justify your answer from the
mathematical perspective and from the financial perspective. Answer: There is no solution.

A= 78.000 i = 0.075 VF= 800,000

( log78.000−log ( 78,000−800,000∗0.105 ) ) / log(1+0.105)=¿

19. They wish to gather exactly $60,000 through monthly deposits of $1,000 in a
Fund that pays 36% CM. How many deposits should be made? What additional deposit?
The joint action with the last deposit of $1,000 will complete the $60,000? What?
An additional deposit made a month after the last deposit of $1,000 will complete the
$60,000?

A = 1000 monthly i = 36 convertible monthly 36/12= 3% * 100= 0.03

n = (log (VF. i + A) – log A) / log (1 + i)

n = (log (60,000 * 0.03 + 1000) - log 1000) / log (1 + 0.03) = 34

VF = A [((1 + i)n– 1) / i]
1000(((1+0.03)¿¿34−1) /0.03)=57,730.17+2.270¿

For the other result, the f value formula in compound interest is used.

20. Solve the previous problem, including an additional deposit of $7,000 in the period.
10. Route 29 payments, $2,507, $782.

21. A person commits to pay $60,000 monthly starting from July 8, 1988.
until December 8, 1989. To comply with that contract, it is proposed to make
monthly deposits of $A each in a savings account that guarantees 1.5% EM. If
the first deposit is made on March 8, 1986, what will be the value of $A
Assuming that the last deposit will be made on April 8, 1987? Answer: $49,411.