Ingenieria Financiera Asignación No.2

 

 Csanicfaöi #5 Rrjedklcs  RUJHKVJU?  CIVKDLJ GAD]JI  NU[RJ IJ.8? 

Kmncrmj Kspaijsc - 7->2=-322= 

 

 

Ruitj F - Frumj

 

 

 

 

Ukspukstc Ruitj F? Kd vcdjr mkd frumj mksfakimk c -2.73 fji ui prkfaj mk [VM$;8.6= cd

ljlkitj mk iukstrc rkvasaöi c dcs 7?22 c.l. mkd mìc mk gjy 7 mk ijvaklerk mk 5231, sai klecrnj sk jeskrvc ui lcyjr vjdulki mk fjitrctcfaöi cd fakrrk mkd mìc mk cykr fucimj rkcdlkitk ks quk fjlakizc c fckr kd prkfaj mk mk kstk fjlljmaty, fji ui vjdulki mk fjitrctcfaöi mk huturjs mk 3,6;>,667 fji rkspkftj cd fakrrk mkd mìc 8 mk ijvaklerk 3.2;1,=;2. Mk cfukrmj c ijtafacs kifjitrcmcs kstk mksfkisj mkd frumj sk mkek praifapcdlkitk cd fjlpjrtclakitj cdfastc mk huturjs ìimafk mödcr hrkitk c ui nrupj mk jtrcs skas mavascs praifapcdks, dj fucd prjmuoj quk sk kdkvcrc c ui 2,3>% pcrc fjtazcr ki 17,3;; mödcrks, c rczöi kstk sufksj kd vcdjr mkd fjlljmaty gcddö cpjyj cd cdfcizcr uij mk sus lìialjs mk [VM$;;.76 y rksastkifac cd aifrklkitcrsk c [VM$;>.77. gttps?//ks.aivkstain.fjl/fjlljmataks/frumk-jad   Hukitks? gttps?//ks.aivkstain.fjl/fjlljmataks/frumk-jad gttps?//www.flknrjup.fjl/trcmain/kikrny/frumk-jad/dangt-swkktfrumkZqujtksZvjdulkZvja.gtld#trcmkMctk   frumkZqujtksZvjdulkZvja.gtld#trcmkMctk vkr ijtafac mkd mìc 7 mk ijvaklerk mk 5231.

gttps?//ks.aivkstain.fjl/ikws/fjlljmataks-ikws/djs-huturjs-mkd-frumj-ecocrji-murcitk-dcsksaji-kurjpkc-316>327   sksaji-kurjpkc-316>327

 

  Ruitj C - Lcaz

Djs prkfaj mk huturjs pcrc kd lcìz sknÿi hkfgc mk iknjfacfaöi lãs fkrfcic rkhdkoci ui culkitj mk 2.5 fji rkspkftj cd mìc mìc citkrajr. Kstk fcleaj ki djs prkfajs mkd lcìz pukmk fjrrkspjimkr c quk kd prkfaj mk djs cdalkitjs c iavkd luimacd sueaö mk prkfaj. —Kd ìimafk mk prkfajs mk djs cdalkitjs mk dc Jrnciazcfaöi mk dcs Icfajiks [iamcs pcrc dc  Cnrafudturc y dc Cdalkitcfaöi (JI[CC, lãs fjijfamc fjlj HCJ), quk lamk dcs vcracfajiks lkisucdks mk uic fkstc mk fkrkcdks, skladdcs jdkcnaijscs, prjmuftjs dãftkjs, fcrik czÿfcr, prjlkmaö 3>5,> puitjs ki jftuerk, ui 3,>% lãs quk kd lks citkrajr y ui 8,2% lãs ki tárlaijs aitkrciucdks“  Hukitk? Ukutkr, > mk ijvaklerk mk 5231.

 

  Ruitj N  ‖ Mödcr Fcicmakisk

Djs prkfaj mk huturjs pcrc kd mödcr fcicmakisk sknÿi hkfgc mk iknjfacfaöi lãs fkrfcic rkhdkoci uic maslaiufaöi maslaiufaöi mk 2.2223; fji rkspkftj cd mìc citkrajr. Djs hcftjrks quk aihduyki sjerk dc tcsc mk dc ljikmc fcicmakisk, kd mödcr FCM, sk pukmki mavamar ki hcftjr  hcftjrks ks a itkrijs itkrij s (R jdatafcs jdata fcs E cifcra cs, cs , Aihdcfa Ai hdcfaöi, öi, RAE R AE ) , quk aifduyki aimafcmjrks mk kstcmìstafcs kfjiölafcs, csì fjlj lkmamcs y pkrspkftavcs mk dc pjdìtafc ljiktcrac aitkric y djs hcftjr  hcftjrks ks kxtkr kxtkrijs ijs  (Kd prkfaj mkd pktrödkj, Fcicmã ks kxpjrtcmjr mk pktrödkj y kd praifapcd fjlprcmjr ks KK[[ pjr jtrj dcmj kd vcdjr mkd mödcr KK[[ aihduyk ki kd vcdjr mk mödcr fcicmakisk, lakitrcs lãs hukrtk skc dc kfjijlìc mk KK[[ lãs pktrödkj ikfksatc y skrã lcyjr dc tcsc mkd mödcr fcicmakisk.)

 

  Ruitj G  ‖ Rksjs Lkxafcijs

Djs prkfaj mk huturjs pcrc kd pksj lkxafcij sknÿi hkfgc mk iknjfacfaöi lãs fkrfcic rkhdkoci uic maslaiufaöi maslaiufaöi mk 2.222262 fji rkspkftj cd mìc citkrajr. Kd pksj lkxafcij sk vk aihdukifacmj pjr hcftjrks aitkrijs mkd pcìs fjlj dcs haicizcs pÿedafcs, dc kfjijlìc mk Láxafj, aihdcfaöi, ktf. Rjr jtrj dcmj djs hcftjrks kxtkrijs fjlj kd hjrtcdkfalakitj mkd mödcr, cdtj prkfaj mkd pktrödkj. y kd mkeadatclakitj j hjrtcdkfalakitj mk dc kfjijlìc mk Fgaic hcftjr quk hjrtcdkfk j pjik ki mksvkitcoc dc kfjijlìc mk KK KK[[. [[.

 

  Ruitj F - Vjyc

Djs prkfajs mk huturjs pcrc dc Vjyc sknÿi dc hkfgc mk iknjfacfaöi lãs fkrfcic maslaiuyki cd 2.5 fji rkspkftj cd mìc citkrajr. Kd nrci prjedklc vaij fji dcs saklercs khkftucmcs kitrk kd ; y kd 33 mk ijvaklerk, ki mjimk sk fjistctcrji prjedklcs mk alpdcitcfaöi, ki dcs quk fkrfc mk 52 c 5;% tuvj quk skr rksklercmj. Kscs sjocs sk kspkrc quk klpakfki c fjskfgcrsk fj skfgcrsk mksmk kd 5; mk lcrzj ki cmkdcitk.

 

  Ruitj M ‖ Ncs Icturcd

Kd prkfaj mk huturjs pcrc kd Ncs Icturcd sknÿi dc hkfgc mk iknjfacfaöi lãs fkrfcic culkitc cd 2.22; fji rkspkftj cd mìc citkrajr. Djs huturjs mkd ncs icturcd sji kd tkrfkr fjitrctj mk huturjs mk prjmuftjs eãsafjs lãs nrcimk mkd luimj pjr vjdulki Clpdaclkitk utadazcmj fjlj prkfaj mk rkhkrkifac icfajicd pcrc kd ncs icturcd, quk fjitaiÿc frkfakimj fjlj hukitk mk kikrnìc ndjecd y kstcmjuiamkisk. Djs prkfajs mk huturjs mk ncs icturcd sk ecsci ki dc kitrknc ki kd Gkiry Gue ki Duasacic. Vk fjlkrfacdazc kdkftröiafclkitk ki FLK Ndjekx y hukrc mk ejdsc pjr fjl fjlpkiscfaöi pkiscfaöi södj fjlj KHV, KHR j fjlkrfaj ki edjquk c trcvás mk FLK FdkcrRjrt.

 

  Ruitj H  ‖ Qki Ocpjiks

Kd prkfaj mk huturjs pcrc kd Okci Ocpjiás sknÿi dc hkfgc mk iknjfacfaöi lãs fkrfcic culkitc cd 2.22222= fji rkspkftj cd mìc citkrajr. Dc cprkfacfaöi mkd Qki ki kd lkrfcmj aitkricfajicd takik cdzcs rkfakitks mk vcrajs cójs hrkitk cd mödcr kstcmjuiamkisk y kd kurj. Fjlj fjitrjdcmjr praifapcd mk dc cffaöi mk prkfaj gc samj uic fjleaicfaöi mkd kitjrij citapctìc cd raksnj mkd lkrfcmj, ki fucitj cd fjlpjrtclakitj mk dc mavasc cd mödcr kstcmjuiamkisk fji kd yki. Ruitj K - Hrcifj Vuazj

 

  Kd prkfaj mk huturj pcrc kd Hrcifj Vuazj mk cfukrmj c dc hkfgc mk iknjfacfaöi lãs fkrfcic maslaiuyk 2.2235 fji rkspkftj cd mìc citkrajr. Ki jftuerk mk 5231, kd Hrcifj Vuazj lcitkiìc uic tkimkifac cprkfactjrac ljtavcmj pjr kd mkeadatclakitj mk dc kfjijlìc kurjpkc y dc aifkrtamulerk pjdìtafc pkrsastkitk. Kd VIE rctahafö su fjlprjlasj mk aitkrvkifaöi mkd Hrcifj Vuazj, pkrj sk kstalc ui rcinj dctkrcd ki kd ÿdtalj tralkstrk mkd cój. Ki Vuazc dc satucfaöi ij ks dc lkojr yc quk kd RAE mkd 5] culkitc lkijs mk dj kspkrcmj y klpkjrc rkspkftj cd 3] (+2,5% 5] vs +2,1% kstalcmj vs +3,2% 3] rkvascmj c dc ecoc mksmk +3,>%). Vjerk tjmj pjrquk su Vkftjr Kxtkrajr sk mkeadatc fji ui Hrcifj Vuazj luy cprkfacmj c aiafajs mk jftuerk mk 5231. Dc cprkfacfaöi mkd Hrcifj rkspkftj cd kurj sk lcituvj murcitk kd 5], c pkscr mk djs kshukrzjs mkd Ecifj Fkitrcd mk Vuazc (VIE). Dcs rkskrvcs mk mavasc kxtrciokrc fjitaiucrji prãftafclkitk ki lãxaljs gastörafjs, pkrj ij huk suhafakitk. Vanuk sakimj ui vcdjr rkhunaj, y kstj pkroumafc c sus Kxpjrtcfajiks pjrquk dcs kifcrkfk. Kd VIE, ki dc ÿdtalc rkuiaöi jhafacd, lcituvj su ]apj Markftjr ki -2,>;% k aisastaö ki su fjlprjlasj mk aitkrvkifaöi mkd Hrcifj Vuazj. Vu RAE mkpkimk lufgj mkd Vkftjr Kxtkrajr, y cftucrãi ki fjiskfukifac. Rjr ksj kspkrcljs quk dcs rkskrvcs mk mavascs lcrquki iukvjs lãxaljs gastörafjs murcitk kd ÿdtalj tralkstrk mkd cój. Ki kstk fjitkxtj, dcs kstalcfajiks satÿci cd Hrcifj Vuazj ki ui rcinj dctkrcd. Dc mkeadamcm kfjiölafc ki dc [KL y dc aifkrtamulerk pjdìtafc (quk lkojrc, pkrj ij mkscpcrkfk) tkimkrãi c cprkfacr kd Hrcifj. Q djs kshukrzjs mkd VIE ij skrãi suhafakitks pcrc mkprkfacrdj. Rkrj sì quk pjmrãi, cd lkijs, ikutrcdazcr dc cprkfacfaöi. Kd rcinj kstalcmj pcrc 5231 sk satÿc ki 3,21/3,33. Fucdquakr iavkd supkrajr rksudtcrìc mahìfad mk cdfcizcr, pkrj skrìc luy pjsatavj pcrc kd RAE suazj mk 5231. Xaljs quk gc tkiamj uic pkqukóc ecoc cd 7 mk ijvaklerk mk 5231, dj quk aimafc quk djs kshukrzjs pjr mkprkfacr kd hrcifj suazj pcrc kd ÿdtalj tralkstrk mk 5231 kstãi surtakimj khkftjs. Ruitj A - Kurj

Kd prkfaj mk huturj pcrc kd Kurj mk cfukrmj c dc hkfgc mk iknjfacfaöi lãs fkrfcic maslaiuyk 2.2252 fji rkspkftj cd mìc citkrajr.

 

  Dc kfjijlìc kurjpkc sk mkeadatc lãs mk dj kspkrcmj, ljtavcmj pjr kd mkeadatclakitj mk dc kfjijlìc kurjpkc y dc aifkrtamulerk pjdìtafc pkrsastkitk (Njeakrij atcdacij k aifdusj kd Erkxat). Kd RAE mk dc [KL ki kd 5] frkfaö cpkics +3,5% hrkitk c +3,6% mkd 3]. Q dc Aihdcfaöi sk lcitakik dkojs mkd jeoktavj mk +5% (+3,=% 3] y +3,2% 5]). 

Ukspukstc Rrjedklc Ij. 5

 Cd pcscr dj mìcs dc tkfijdjnìc vc ki culkitj, csì laslj sk mafk quk c lkiumj kd luimj sk vukdvk lãs pkqukój y kstj sk gcfk kvamkitk sjerktjmj ki kd luimj fcmc vkz lãs ndjecdazcmj mkd fjlkrfaj. Djs cvcifks táfiafjs aifduyki lkijrks fjstjs mk trcispjrtk fjlj rksudtcmj mkd trcispjrtk lcrìtalj mk prjmuftjs ki fjitkikmjrks y sastklcs cvcizcmjs mk tkdkfjluiafcfajiks tkdkfjluiafcfaji ks damkrcmjs pjr kd surnalakitj mk dc Ukm Aihjrlãtafc Luimacd. Rjr dj tcitj, dcs fjlpcóìcs ljmkrics mk gjy ki mìc ddkvci c fcej sus iknjfajs hukrc mk su pcìs mk jranki y, ki kd prjfksj, nkikrci ainrksjs j aifurrki ki jedancfajiks mkijlaicmcs ki mavascs mahkrkitks c su ljikmc mk jranki. Ki kd prjfksj, kstcs klprkscs pukmki vkrsk kxpukstcs cd raksnj mk quk dcs tcscs mk fcleaj skci alprkmkfaedks y pukmci hduftucr ki markffajiks cmvkrscs. Kstcs aifkrtamulerks pukmki gcfkr quk skc mahìfad cmlaiastrcr djs hduojs mk fcoc cftucdks, pdciahafcr uic huturc kxpcisaöi mkd iknjfaj j tkikr áxatj ki ui cleakitk fjlpktatavj mk lkrfcmj. Aiijvcfaöi mk prjmuftj, daquamkz y sknuramcm haicifakrc sji djs trks padcrks sjerk djs fucdks FLK Nrjup su clpdaj lkrfcmj mk mkravcmjs pralkrc fdcsk. FLK Nrjup jhrkfk prjmuftjs kifjistruyö ecsk c ui rcinj mk mavascsmkiknjfacmcs hrkfukitklkitk, daquamkz prjpjrfajicmc ki dc pdctchjrlc mk jpkrcfaöi kdkftröiafc FLK Ndjekx® mk tkfijdjnìc mk puitc y ncrcitìcs haicifakrcs, pjsaedks nrcfacs c su sastklc fkitrcdazcmj mk fjlpkiscfaöi. Ukspukstc Rrjedklc Ij. 6

Kd prkfaj mkd fjitrctj mkd huturj mk dc daerc kstkrdaic ki dc hkfgc mk iknjfacfaöi lãs fkrfcic ks mk 3.5737 mödcrks (Ijv 5231). Ecsãimjijs ki ui fjitrctj mk pcnj mk 85,;22 daercs, kd ljitj pcrc fulpdar fji kd fjitrctj skrìc mk 72,335.;2 mödcrks.