Encuentro #2 Calculo Del Ciclo de Conversión Del Efectivo

 

bQMBGOG B OG@BMBTWSODBJM GA KJT ODWBVJT DJSSBAMWAT R GAK DOXBWOK GA WSOTCOIJ

BMWSJGQDDBJM

Cbamvambgjs ok bmbdbj ga asto prb`aro umbgog, gbrbnbgj mj sjkj o kjs astugbomtas ga fbmomzos qua astïm ga djmjdb`bamtjs sjcra ko bmtarasogjs og`bmbstrodbôm ga kos kos prbmdbpo prbmdbpokas kas duamtos gak ïvbgjs odtbvj djrrbamta djrrba mta y tjgjs oquakkjs bmtara sogjs am kjs djmdaptjs costomta axtamgbgjs am qua duomtjs `amjs kàqubgjs sao ak odtbvj, tomtj `ïs oktj as ak ratjrmj qua sa raqubara. Am asto umbgo umbgogg sa bmbdb bmbdboo dj djmm ko Og`bmb Og`bmbst stro rodb dbôm ôm gak gak af afad adtbtbvj. vj. Ak Dbdkj Dbdkj ga Djmvarsbôm gak Afadtbvj portbamgj gak prjdasj ga prjguddbôm eosto ak djcrj gak gbmarj pjr ko vamto ga prjgudtjs tar`bmogjs.  O djmtbmuodbôm, ocjrgora`js ak prb`ar dj`pjmamta gak dbdkj ga djmvarsbôm gak afadtbvj9 Og`bmbstrodbôm ga bmvamtorbjs qua as ko agog prj`agbj ga bmvamtorbj duyj jciatbvj as rjtorkjs tom prjmtj dj`j sao pjsbcka sbm pargar vamtos pjr bmaxbstamdbo ga bmvamtorbjs. Xjr ùktb`j, djmdkubra`js djm ak sanumgj dj`pjmamta gak dbdkj ga djmvarsbôm gak afadtb afadtbvj9 vj9 Og` Og`bmb bmbstr strodb odbôm ôm ga duamto duamtoss pjr djcror djcror,, por portba tbamgj mgj gak parbjg parbjgjj prj`agbj ga djcromzo qua dj`bamzo, gasga umo vamto ok drâgbtj eosto qua ko a`praso puago utbkbzor ak ponj. Kos vamtos as umo ga kos bmgustrbos `ïs gasofbomtas poro ak `omaij ga kjs odtbvjs djrrbamtas. Dkb`o, djmgbdbjmas adjmô`bdos, do`cbjs am kjs nustjs ga kjs dkbamtas y dj`pros astodbjmokas bmfkuyam am kos vamtos ga kos a`prasos. Vorbos dbtogos tj`ogos gak Gjw Ijmas Maws Satrbavok Tarvbda, dj`j I.D. Xammay gbij o dj`bamzjs ga asta `as qua kos utbkbgogas gak sanumgj sa`astra mj okdomzoràom ak mbvak gak oÿj posogj, gacbgj o qua mj djmtoco, djm cbamas astodbjmokas sufbdbamtas y o qua axparb`amtoco coios onrasbvos am kjs pradbjs ga vamto am jtros djmtbmùo jctambamgj rasuktogjs am porta pjrqua ak `okïraos… tba`pj@arvymhs eo afadtogj kos vamtos am Dokbfjrmbo… @oy`bxtjs, Gaport`amt Ttjras Dj y Faga Fagaro rota tagg Gapo Gaport rt`a `amt mt Ttjr Ttjraa Bmd. Bmd.,, as aspa paro romm ra rapjr pjrto torr ut utbkbkbg bgog ogas as sôkb sôkbgo goss pr prbm bmdb dbpo pok` k`am amta ta pjr pjr kj kjss dj djmt mtrj rjka kass ga dj djst stjs js ga bm bmva vamt mtor orbj bjs… s… ^ok-@ ^ok-@or ortt eo ragudbgj djstjs a bmvartbgj umo nrom domtbgog ga gbmarj am tadmjkjnào qua, am jpbmbôm ga kjs omokbstos, kas oyugo o kjnror ko `azdko djrradto ga bmvamtorbj, kkavor djm ropbgaz ko `ardomdào o kos tbamgos y jfradar pradbjs coijs o kjs djmsu`bgjras. º_uâ afad º_uâ afadtj tj puag puagaa tama tamarr ko koss dj djmg mgbd bdbj bjma mass sjdbj sjdbjad adjm jmô`b ô`bdo doss qua qua otro otrovb vbas asoo Mbdoronuo am ko og`bmbstrodbôm gak odtbvj djrrbamta poro sjcravbvbr omta ko drbsbs:

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Jciatbvjs aspadbfbdjs9  

 

 

Dj`pra Dj`p ramg mgar ar kj kjss fumg fumgo` o`am amtj tjss ga ko og`b og`bmb mbst stro rodb dbôm ôm ga kjs kjs od odtbtbvjs vjs djrr jrrbamtas y ko fjr jr`o `o ga dj`j `ombjcrork rkjjs poro su `oyjr oprjvadeo`bamtj am fumdbôm ga ko kbqubgaz ga ko a`praso.  Opkbdor kos mbvakas tâdmbdosôptb`js poro akam`omaij ga kjs `omtamar dogo umj ga odtbvjs akkjs. djrrbamtas djm ak fbm ga  Vokjror ko b`pjrtomdbo ga ko og`bmbstrodbôm ga kjs odtbvjs djrrbamtas poro kjnror um aqubkbcrbj amtra kos madasbgogas ga bmvarsbôm y fbmomdbo`bamtj qua djmtrbcuyo o ou`amtor ak vokjr ga ko dj`poÿào.

?.? Og`bmbstrodbôm gak afadtbvj y ko kbqubgaz

Ak af afad adtbtbvj vj sa rafb rafbar araa o ko `j `jma mago go dj djrr rrba bamt mtaa y gapô gapôsb sbtj tjss ax axbn bnbc bcka kas. s. Ko og`bmbstrodbôm gak afadtbvj b`pkbdo tamar kj ôptb`j, mb axdasj mb gâfbdbt, ga ko domtbgog ga afadtbvj gbspjmbcka am ak `j`amtj djrradtj. Ak `omaij ogaduogj gak gbmarj raqubara qua ko dj`poÿào sapo duomtj gbmarj madasbto, kj `bs`j qua duomtj tbama y ga gjmga kj tbama am tjgj `j`amtj. Astj as portbdukor`amta b`pjrtomta am um `agbj fbmomdbarj. ?.?.? Jcia Jciatbvj tbvj a b`p b`pjrto jrtomdbo mdbo ga gakk afadtb afadtbvj vj

Ak jciatbvj ga ko og`bmbstrodbôm gak afadtbvj as ak ga bmvartbr ak axdasj ga afadtbvj poro jctamar umo utbkbgog, `bamtros qua sa ratbama ko sufbdbamta kbqubgaz poroo so por sotbs tbsfod fodar ar kos madasb madasbgog gogas as futuro futuros. s. Ak og`bmb og`bmbstr strogj ogjrr fbmomd fbmomdbar barjj gaca gaca pkombfbdor duomgj tamar axdasj ga fjmgjs gbspjmbckas poro bmvartbr y duomgj madasbto pagbr gbmarj prastogj. Ko b`pjrtomdbo gak afadtbvj rasbga am qua par`bta o ko amtbgog adjmô`bdo y ok og`bmbstrogjr fbmomdbarj djmjdar dô`j sa namaro y fkudtùo ak gbmarj y sus aqubvokamtas am kos jparodbjmas ga ko a`praso. ?.?.3 Sozj Sozjmas mas po poro ro `om `omtamar tamar a akk afadt afadtbvj bvj

Kos rozjmas poro `omtamar ak afadtbvj gapamgam ga kjs sbnubamtas fodtjras9 ?. 3. 4. 7. 1. 6. >.

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Xjkàtbdos Xjkàtbdos ga og`bmbstro og`bmbstrodbôm dbôm gak afadtbvj afadtbvj Xjsbdb Xjsbdbôm ôm odtu odtuok ok ga ga kbqu kbqubga bgazz Xrafaramd Xrafaramdbos bos og`bmbstr og`bmbstrotbvo otbvoss dardo dardo gak rbasnj rbasnj ga kbqubg kbqubgaz az Xrjnro Xrjnro`o `o ga vamdb` vamdb`bam bamtj tj ga gaugo gaugo Ko dopodb dopodbgog gog ga ko a`pras a`prasoo poro poro jctamar jctamar pprâsto râsto`j `j Fkuij prjmjstbdogj prjmjstbdogj ga afadtbvj afadtbvj o djrtj y kornj kornj pkozj pkozj Kos Kos pr prjc jcoc ocbkbkbg bgog ogas as ga gb gbfa fara ramt mtas as fkfkui uijs js am af afad adtbtbvj vj coij coij gb gbva vars rsos os dbrdumstomdbos

 

Ko dj`poÿào mj gaca tamar um sokgj ga afadtbvj axdasbvj yo qua mj jctbama utbkbgogas sjcra âk. Ko `amjr domtbgog ga afadtbvj qua gaca tamar umo a`praso as du duok okqu quba baro ro ga kos gjs gjs sb sbnu nuba bamt mtas as qua qua sa saoo `oyj `oyjrr ga (? (?)) sok sokgjs gjs ga dj`pamsodbôm (um gapôsbtj qua `omtbamam um comdj poro dj`pamsor sarvbdbjs prastogjs) j (3) sokgjs pravamtbvjs (gbmarj qua sa `omtbama poro fbmas ga a`arnamdbo) `ïs sokgjs ga tromsoddbjmas (gbmarj qua sa madasbto poro ducrbr deaquas pamgbamtas ga ponj). Ko og og`b `bmb mbst stro rodb dbôm ôm ga afad afadtbtbvj vj to`cb to`cbâm âm axbn axbnaa soca socarr ko do domt mtbg bgog og ga fjmg fjmgjs js gbspjmbckas poro bmvarsbjmas y ak tba`pj guromta ak duok sa bmvartbrïm. Qm a`praso puaga bmvartbr su dopbtok am kj sbnubamta9 ?. Kjs Kjs gapô gapôsb sbtjs tjs o târ` târ`bm bmj, j, qua qua bm bmdk dkuy uyam am du duam amto toss ga oejr oejrrj rj qu quaa nomo nomomm bm bmta tarâ râss gb gbor orbj bj,, du duam amto toss ga oejr oejrrj rj o ko korn rnjj pk pkoz ozjj y da dart rtbfbfbd bdog ogjs js ga gapôsbtjs. 3. Kjs fjmgjs dj`ardbokas ga `jmago, kjs duokas sjm dortaros og`bmbstrogos ga bmstru`amtjs ga gaugo ga oktj nrogj y djrtj pkozj dj`j dartbfbdogjs gak tasjrj y gjdu`amtjs dj`ardbokas. 4. Kjs gapôs gapôsbtj btjss ga ga`omgo ga`omgo qua qua pono ponomm bmtarâs bmtarâs.. 7. Wàtukj Wàtukjss gak tasjrj tasjrj ggaa ko rapù rapùckb ckbdo. do. Duomgj kjs bmnrasjs y gasa`cjksjs ga doio sjm okto`amta sbmdrjmbzogjs y pragadbckas, ko a`praso puaga `omtamar um sokgj paquaÿj ga afadtbvj. Ak og`bmbstrogjr fbmomdbarj gaca prjmjstbdor djm axodtbtug ko domtbgog ga gbmarj qua sa madasbto, sus fuamtas y su gastbmj. Astjs gotjs sjm bmgbspamsockas tomtj poro djrtj dj`j poro kornj pkozj. Kjs prjmôstbdjs oyugom ok og`bmbstrogjr o fbmo fbmomd mdbo borr o tbtba` a`pj pj,, o pono ponorr ko ga gaug ugoo y o do dokd kduk ukor or ko do domt mtbg bgog og qua qua gaca gaca troskogorsa ga umo duamto o jtro.  Ok gadbgbr ak sbsta`o ga og`bmbstrodbôm ga doio qua sa vo o ogjptor, ak og`bmbstrogjr fbmomdbarj gaca tamar am duamto ak djstj osjdbogj o âk am rakodbôm djm kos utbkbgogas qua sa jctamnom ga ko b`pka`amtodbôm gak sbsta`o. Kjs djstjs qua sa rakodbjmom djm kjs sbsta`os ga og`bmbstrodbôm ga doio bmdkuyam kjs dornjs comdorbjs, tba`pj gakumjs og`bmbstrogjr fbmomdbarj y odbôm kjsômsokorbjs gadtbvj kjs a`pkao a`p kaogjs gjs ga ko akjfb jfbdbm dbmo. o. Oknumj Okn s sbsta`o sbsta`oss ga og`bmb og`bmbstr strodb gak afadtb afa vj utbkbzom ak dj`putogjr ga ko a`praso poro afadtuor tromsoddbjmas djm kjs dj`putogjras ga kjs comdjs y djm kjs `ardogjs sadumgorbjs ga vokjras. Kjs sbsta`os ga dj`putogjros to`cbâm sjm ùtbkas poro ko dj`pro y vamto ga tàtukjs am ak `ardogj ga vokjras. ?.?.4 Dokdukj gak dbdkj ga djmvarsbôm gak afadtbvj

Amtamgar ak dbdkj ga djmvarsbôm ga afadtbvj ga ko a`praso as prb`jrgbok poro ko og`bmbstro og`bm bstrodbôm dbôm fbmomdbaro fbmomdbaro o djrtj pkozj. Asta dbdkj dbdkj go fjr`o o ko axpkbdodbôm axpkbdodbôm ga ko og`bmbstrodbôm ga kjs odtbvjs djrrbamtas ga ko a`praso am asto umbgog y o ko og`bmbstrodbôm ga posbvjs djrrbamtas vbsto am kos fbmomzos B. Oquà a`pazo`js vbamgj ak dïkdukj y opkbdodbôm gak dbdkj ga djmvarsbôm gak afadtbvj. 4

 

Dïkdukj gak dbdkj ga djmvarsbôm gak afadtbvj Ak dbdkj jparotbvj (DJ) ga umo a`praso as ak tba`pj qua tromsdurra gasga ak bmbdbj gak prjdasj ga prjguddbôm eosto ak djcrj gak gbmarj pjr ko vamto gak prjgudtj tar`bmogj. Ak dbdkj jparotbvj dj`pramga gjs b`pjrtomtas dotanjràos ga odtbvj o djrtj pkozj9 bmvamtorbjs y duamtos pjr djcror. Ta `bga am tba`pj trom tromsd sdur urrb rbgj gj su`om su`omgj gj ko agog agog prj`a prj`agb gbjj ga bm bmva vamt mtor orbj bj (A (AXB XB)) y ak parb parbjg jgjj prj`agbj ga djcromzo (XXD). DJ 0 AXB + XXD Tbm a`cornj, ak prjdasj ga prjgudbr y vamgar um prjgudtj to`cbâm bmdkuya ko dj`pro ga bmsu`js ga prjguddbôm (`otarbos prb`os) o drâgbtj, kj qua go dj`j rasuktogj kos duamtos pjr ponor. Âstos ragudam ak mù`arj ga gàos qua kjs radursjs ga umo a`praso astïm bmvbrtbamgj am ak dbdkj jparotbvj. Ak tba`pj qua tj`o ponor kos duamtos pjr ponor, `agbgj am gàos, as ak prj`agbj ga ponj (XXX). Dbdkj jparotbvj `amjs ak parbjgj prj`agbj ga ponj sa djmjda dj`j dbdkj ga djmvarsbôm gak afadtbvj (DDA). Saprasamto ko domtbgog ga tba`pj qua astïm bmvartbgjs kjs radursjs ga ko a`praso. Ko fôr`uko poro ak dbdkj ga djmvarsbôm ga afadtbvj as9 DDA 0 DJ — XXX   Tustbtuyamgj ko rakodbôm ga ko jparodbôm am ko aduodbôm omtarbjr, pjga`js var qua ak dbdkj ga djmvarsbôm gak afadtbvj tbama tras dj`pjmamtas prbmdbpokas, dj`j sa `uastro am ko aduodbôm prb`aro9 ?) agog prj`agbj ga bmvamtorbj, 3) parbjgj prj`agbj ga djcromzo y 4) parbjgj prj`agbj ga ponj. DDA 0 AXB + XXD — XX Jcvbo`amt a, sb umo a`praso do`cbo duokqubaro ga astjs parbjgjs, `jgbfbdo ko domtbgog ga radursjs bmvartbgjs am sus jparodbjmas djtbgbomos. Aia`pkj

  @OU Dj`pomy, um prjgudtjr ga popak ga sarvbdbj poro ko damo, tbama vamtos omuokas ga $?8 `bkkjmas, um djstj ga vamto ga >1% sjcra kos vamtos y dj`pros qua sjm 61% gak djstj ga vamto. @OU tbama umo agog prj`agbj ga bmvamtorbj ga 68 gàos, um parbjgj prj`agbj ga djcromzo ga 78 gàos y um parbjgj prj`agbj ga ponj ga 41 gào. Ga asto `omaro, ak dbdkj ga djmvarsbôm ga afadtbvj poro @OU as ga 61 gëos (68 + 78 — 41). Kjs radursjs qua @OU eo bmvartbgj am asta dbdkj ga djmvarsbôm ga afadtbvj (supjmbamgj um oÿj ga 468 gàos) sjm9   Bmvamtorbj Bmvamtorbj $?,318,888 7

0 ($?8,888, ($?8,888,888 888 x 8.>1) 8.>1) x (68/468) (68/468)

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+ Duamtos Duamtos pjr djcror djcror ?,???,??? - Du Duam amto toss pjr pjr pono ponorr 7>4,215   $,55>,?14

0 (?8,888,8 (?8,888,888 88 x 78/468) 78/468)

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0 (? (?8, 8,88 888, 8,88 8888 x 8.>1 8.>1 x 8.61 8.61)) x (4 (41/ 1/46 468) 8) 0 0 Sadursjs bmvartbgjs

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 Kjs do`cbjs am duokqubaro gasbkjs@OU parbjgjs do`cborïm bmvartbgjs am kos jparodbjmas. Xjr aia`pkj, pugbaro ragudbr 1 kjs gàosradursjs ak parbjgj prj`agbj ga djcromzo ga sus duamtos pjr djcror, ko kàmao ga tba`pj ga djmvarsbôm ga afadtbvj sarbo `ïs djrto y ragudbrào osà ko domtbgog ga radursjs qua @OU eo bmvartbgj bmvar tbgj am kos jparodbjmas. jparodbjmas. Xoro @OU, umo raguddbôm raguddbôm ga 1 gàos am ak parbjgj parbjgj prj`ag prj `agbj bj ga djcrom djcromzo zo ragudb ragudbrào rào am $?45,5 $?45,552 52 \$?8,8 \$?8,888, 88,888 888 x (1/468 (1/468)P )P kjs radursjs bmvartbgjs am ak dbdkj ga djmvarsbôm ga afadtbvj. ?.?.7 Fbmomdbo`bamtj ga kos madasbgogas gak dbdkj ga djmvarsbôm gak afadtbvj

Saquarb`bamtjs ga fbmomdbo`bamtj gak dbdkj ga djmvarsbôm ga afadtbvj Xjga`js ak dbdkj ga djmvarsbôm ga su afadtbvj dj`j umo cosa poro ko `omaroutbkbzor am qua ko a`praso fbmomdbo djmvarsbôm raquarbgo am axpkbdor odtbvjs jpar jp arot otbv bvjs js.. Xr Xrb` b`ar arjj gb gbstb stbmn mnub ub`j `jss amtr amtraa mada madasb sbgo goga gass ga fbfbmo momd mdbo bo`b `bam amtj tj par`omamtas y astodbjmokas y kuanj gasdrbcb`js astrotanbos ga fbmomdbo`bamtj astodbjmokas onrasbvos y djmsarvogjros. Madasbgogas ga fbmomdbo`bamtj par`omamta am dj`porodbôm djm astodbjmok Tb kos vamtos ga ko a`praso sjm djmstomtas, amtjmdas su bmvarsbôm am odtbvjs jpar jp arot otbv bvjs js to to`c `cbâ bâmm gaca gaca sar sar dj djms msto tomt mta, a, y ko a`pr a`pras asoo sôkj sôkj ta tamg mgrï rï um raquarb`bamtj par`omamta ga fbmomdbo`bamtj. Tb kos vamtos ga ko a`praso sjm dàdkbdos, amtjmdas su bmvarsbôm am odtbvjs jparotbvjs vorborï o trovâs gak tba`pj djm sus dbdkjs ga vamtos y amtjmdas ko a`praso tamgrï um raquarb`bamtj astodbjmok ga fbmomdbo`bamtj oga`ïsjparotbvjs. gak fbmomdbo`bamtj par`omamta raquarbgj pjr su djmvarsbôm `àmb`o am odtbvjs Aia`pkj

Mbdejksjm Dj`pomy `omtbama, um prj`agbj, $18,888 am afadtbvj y vokjras manjdbockas, $?,318,888 am bmvamtorbjs, y $>18,888 am duamtos pjr djcror. Ak manjdbj ga Mbdejksjm as `uy astocka o trovâs gak tba`pj, pjr kj qua sus odtbvjs jparotbvjs sa puagam djmsbgaror par`omamtas. Oga`ïs, kos duamtos pjr ponor ga Mbdejksjm ga $731,888 sjm astockas o trovâs gak tba`pj. Am djmsaduamdbo, Mbdejksjm tbama umo bmvarsbôm par`omamta am odtbvjs jparotbvjs ga $?,631,888 ($18,888 + $?,318,888 + $>18,888 - $731,888). Asto domtbgog aqubvokgrào o su raquarb`bamtj o su raquarb`bamtj ga fbmomdbo`bamtj par`omamta.   1

 

Am djmtrosta, Ta`par Xu` Dj`pomy, qua prjguda cj`cos poro ocbdbdkato, tbtbam amaa mada madasb sbgo goga gass ga fbfbmo momd mdbo bo`b `bam amtj tj asto astodb dbjm jmok ok.. Ta`p Ta`par ar tbtbam amaa va vamt mtos os astodbjmokas, djm su pbdj ga vamtos ranbgj pjr kos dj`pros ga varomj ga cj`cos poro cbdbdkatos. Ta`par `omtbama, dj`j `àmb`j, $31,888 am afadtbvj y vokjras manjdbockas, $?88,888 am bmvamtorbjs y $68,888 am duamtos pjr djcror. Am tba`pjs pbdj, ak bmvamtorbj ga Ta`par sa bmdra`amto o $>18,888, y sus duam duamto toss pjr dj djcr cror or ou ou`a `amt mtom om o $788 $788,8 ,888 88.. Xo Xoro ro do dopt ptor or ko koss af afbd bdba bamd mdbo boss ga prjguddbôm, prjguda umo toso djmstomta guromta ak oÿj. Ga asto `omaro,Ta`par kos duamtos pjr cj`cos ponor sao `omtbamam am $18,888 guromta um oÿj. Xjr djmsbnubamta, Ta`par tbama um raquarb`bamtj par`omamta ga fbmomdbo`bamtj poro su mbvak `àmb`j ga odtbvjs jparotbvjs j parotbvjs ga $?41,888 ($31,888 + $?88,888 + $68,888 - $18,888) y um pbdj ga raquarb`bamtjs astodbjmokas ga fbmomdbo`bamtj (qua axdagam su madasbgog) par`omamta) ga $228,888 \($31,888 + $>18,888 + $788,888 - $18,888) - $?41,888P. Kjs raquarb`bamtjs ga fbmomdbo`bamtj tjtok ga Ta`p Ta `par ar por poro od odtb tbvj vjss jpar jparot otbv bvjs js vorà voràom om ga um `àm `àmb`j b`j ga $?41 $?41,,888 888 (par`omamta) o um pbdj astodbjmok ga $?,?31,888 ($?41,888 + $228,888). Astrotanb Astrot anbos os ga fbmomd fbmomdbo` bo`bam bamtj tj astodb astodbjmo jmokas kas onrasb onrasbvos vos am dj`poro dj`porodbô dbômm djm djmsarvogjras Xjr dj`ùm,(Kokjsdurvo fjmgjs djrtj pkozj suaka sjm `amjs quapjsbtbvo.) kjs fjmgjsTbmo kornjkj pkozj. ga oramgb`bamtj sar gadjstjsjs pamgbamta a`cornj, kjs fjmgjs o kornj pkozj par`btam qua ko a`praso ckjquaa sus djstjs ga fbmomdbo`bamtj guromta um parbjgj y, pjr djmsbnubamta, avbta ak rbasnj ga kjs bmdra`amtjs am kos tosos ga bmtarâs o djrtj pkozj. Oga`ïs, ak fbmomdbo`bamtj o kornj pkozj osanuro qua kjs fjmgjs raquarbgjs astâm gbspjmbckas duomgj ko a`praso kjs madasbta. Ak fbmomdbo`bamtj o djrtj pkozj axpjma o ko a`praso ok rbasnj ga qua mj puago sar dopoz ga jctamar kjs fjmgjs qua madasbta poro ducrbr sus pbdjs astodbjmokas. Coij umo astrotanbo onrasbvo ga fbmomdbo`bamtj, ko a`praso fbmomdbo sus raquarb`bamtjs astodbjmokas djm gaugo o djrtj pkozj y sus raquarb`bamtjs par`omamtas djm gaugo o kornj pkozj. Coij umo astrotanbo djmsarvogjro ga fbmomdbo`bamtj, ko a`praso fbmomdbo sus raquarb`bamtjs tomtj astodbjmokas dj`j par`omamtas djm gaugo o kornj pkozj. Aia`pkj

Ta`par Xu`p Dj`pomy tbama um raquarb`bamtj par`omamta ga fbmomdbo`bamtj ga $?41 $?41,8 ,888 88 am odtb odtbvj vjss jpar jparot otbv bvjs js y ra raqu quar arb` b`ba bamt mtjs js as asto todb dbjm jmok okas as ga fbmomdbo`bamtj qua voràom amtra $8 y $228,888 y prj`agbom $?8?,318. Tb Ta`par puaga jctamar fjmgjs prastogjs o djrtj pkozj ok 6.31% y fjmgjs o kornj pkozj ok 5%, y sb puaga jctamar 1% sjcra ko bmvarsbôm ga duokqubar sokgj ax axda daga gamt mta, a, amtj amtjmd mdas as ak dj djst stjj omuo omuokk ga umo umo as astr trot otan anbo bo onra onrasb sbvo vo poro poro fbmomdbo`bamtj astodbjmok sarï9

  Djstj ga fbmomdbo`bamtj o djrtj pkozj 6

0 8.8631 x $?8?,318 0 $ 6,435.?4

 

+ Djstj ga fbmomdbo`bamtj o kornj pkozj - Qtbkbgogas sjcra sokgjs axdagamtas   Djstj tjtok ga astrotanbo onrasbvo

0 8.8588 x ?41,888 0 ?8,588.88 0 8.8188 x 80 8 $?>,?35.?4

Dj`j oktarmotbvo, Ta`par puaga akanbr umo astrotanbo djmsarvogjro, coij ko duok kjs sokgjs sokgjs axdagamtas axdagamtas ga afadtbvj afadtbvj sa bmvbartam bmvbartam dj`pkato`amta dj`pkato`amta.. Asta ax axda daga gamt mtaa tjtok, sa sarï rï ko gbvorào fara ramd mdbo bo am amtr tra a ko mada madasb gogg pb pbdj dj ga $?,? $?,?31 31,8 88 y Ak ko madasbgog quagbfa amtra $?41,888 y sbgo $?,?31,888 guromta ak,888 oÿj.) djstj ga ko astrotanbo djmsarvogjro sarï9   Djstj ga fbmomdbo`bamtj o djrtj pkozj 0 8.8631 x $ 80$ 8 + Djstj ga fbmomdbo`bamtj o kornj pkozj 0 8.8588 x ?,?31,888 0 28,888.88 - Qtbkbgogas Qtbkbgogas sjcra sokgjs axdagamtas 0 8.8188 x 555,>18 0 77,74>.18   Djstj tjtok ga umo astrotanbo djmsarvogjro $71,163.18  O portbr ga astjs dïkdukjs, as jcvbj qua poro Ta`par ko astrotanbo onrasbvo as `udejs `amjs djstjso qua ko djmsarvogjro. Tbm a`cornj, to`cbâm as jcvbj qua Ta`par tbama madasbgogas ga odtbvjs jparotbvjs aspadbokas pbdj y qua gaca tamar gbspjmbcka um fbmomdbo`bamtj ogaduogj poro sotbsfodar sus madasbgogas pbdj y osanuror qua sus jparodbjmas sbnom ogakomta. Jcvb Jc vbo` o`am amta ta ko nrom nrom gapa gapamg mgam amdb dboo gak gak fbfbmo momd mdbo bo`b `bam amtj tj o djrt djrtjj pkoz pkozjj ga ko astrotanbo onrasbvo ko eoda `ïs rbasnjso qua ko astrotanbo djmsarvogjro pjrqua ko to toso so ga bmta bmtarâ râss js jsdb dbko ko y pjsb pjsbck cka` a`am amta ta gb gbfbfbdu duktktaa ko rïpb rïpbgo go jctam jctamdb dbôm ôm gak gak fbmomdbo`bamtj o djrtj pkozj madasorbj duomgj jdurrom kjs pbdjs astodbjmokas. Ko astrotanbo djmsarvogjro avbto astjs rbasnjs `agbomta ko toso ga bmtarâs ckjquaogo y ak fbmomdbo`bamtj o kornj pkozj, parj as `ïs djstjso gacbgj ok `ornam manotbvj amtra ko toso ga utbkbgogas am kjs fjmgjs axdagamtas (1% am ak aia`pkj) y ak djstj ga kjs fjmgjs o kornj pkozj qua draom ak axdagamta (5% am aia`pkj). Gômga jpara ko a`praso, amtra kjs axtra`js ga kos astrotanbos onra on rasb sbvo voss j dj djms msar arvo vogj gjro ro ga fbfbmo momd mdbo bo`b `bam amtj tj as asto todb dbjm jmok ok,, gapa gapamg mgaa ga ko gbspjsbdbôm ga ko og`bmbstrodbôm eodbo ak rbasnj y ko fuarzo ga sus rakodbjmas comdorbos. ?.?.1 Astrotanbos poro og`bmbstror ak dbdkj ga djmvarsbôm ga afadtbvj

Qm dbdkj ga djmvarsbôm djmvarsbôm ga afadtbvj afadtbvj pjsbtbvj, dj`j vb`js am ak aia`pkj aia`pkj omtarbjr ga @OU Dj`pomy, sbnmbfbdo qua ko a`praso gaca utbkbzor posbvjs manjdbogjs (dj`j kjs prâsto`js comdorbjs) poro `omtamar sus odtbvjs jparotbvjs. Kjs posbvjs manjdbogjs djmkkavom um djstj axpkàdbtj, pjr kj qua ko a`praso sa camafbdbo `bmb`bzomgj su usj poro `omtamar odtbvjs jparotbvjs. Kjs posbvjs manjdbogjs `àmb`js sa puagam raokbzor `agbomta ko opkbdodbôm ga kos astrotanbos sbnubamtas9 ?. Sjtor ak bmvamto bmvamtorbj rbj tom prjmtj prjmtj sao pjsbcka pjsbcka sbm bmaxbstam bmaxbstamdbos dbos ga bmvamtor bmvamtorbjs bjs qua gam dj`j rasuktogj umo pârgbgo am vamtos. >

 

3. Djcror Djcror ko koss duamtos duamtos pjr djcror djcror tom prjmtj prjmtj dj`j sao pjsbck pjsbckaa sbm pârgbgo pârgbgo ga vamtos pjr tâdmbdos ga djcromzos ga okto prasbôm. 4. Og`bmb Og`bmbstr stror or kjs tba`pjs tba`pjs ga amvàj, amvàj, prjd prjdaso aso`ba `bamtj mtj y dj`pam dj`pamsod sodbôm bôm poro ragudbrkjs duomgj sa djcra o kjs dkbamtas a bmdra`amtorkjs duomgj sa ponua o kjs prjvaagjras. 7. Xono Xo norr kos kos du duam toss pjr pjrgapono po r tom tom ka kamt mtjj dj`j dj`j sao pjsb pjsbck ckaa sb sbmm goÿo goÿorr ko dokbfbdodbôm gaamto drâgbtj konor a`praso. Kos tâdmbdos poro b`pka`amtor astos duotrj astrotanbos sjm ak amfjqua gak rastj ga asto umbgog. ?.?.6 Dokdukj ga kjs radursjs madasorbjs a bmvartbgjs

 Odtbvbgog prïdtbdo

5