FA - Clase 08 - 191003 Ejercicio Bonos y Acciones.xlsx - 1 Tasas nominales y reales Si los inversionistas requieren una tasa de rendimiento real de 10 y

FA - Clase 08 - 191003 Ejercicio Bonos y Acciones.xlsx - 1...

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Tasa de inflación = 8% Rendimiento Real = 10% Tasa nominal aproximada = 8% + 10% = Tasa nominal exacta = 1 + R = (1 + r) * (1 + h) Tasa nominal exacta = 1 + R = ( 1 + 0.08 ) * ( 1 + 0.1 ) Tasa nominal exacta = 1 + R = 1.08 * 1.1 Tasa nominal exacta = 1 + R = 1.188 Tasa nominal exacta = R = 0.188 Precio Sucio o Facturación= $ 1,090.00 Tasa de cupón = 8.40% Pago de interés = Semestral = 2 Valor facial = $ 1,000.00 Interés de cupón = $ 42.00 Meses ya devengados = 4 Interés ya devengado = $ 28.00 Precio Limpio = $ 1,090.00 - $ 28.00 = 1. Tasas nominales y reales Si los inversionistas requieren una tasa 10% y la tasa de inflación es de 8%, ¿cuál debe ser la tasa nominal aproximada? ¿Y la tasa nominal exacta? 2. Un inversionista compra un bono con precio de facturación de tiene una tasa de cupón de 8.4% anual y faltan dos meses para la semestral del cupón. a. ¿Cuál es el precio limpio del bono?
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18% $ 1,062.00 a de rendimiento real de 1 090 dólares. El bono siguiente fecha de pago
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Fecha de maduración = 1-Dec-30 Fecha de compra = 1-Dec-14 Semestres = 32 = 16 = Valor de compra = C = 65,409.72 Valor nominal = 100,000.00 Tasa de interés nominal = = 7% anual Periodicidad de pago = p = 2 (semestral) Rendimiento = i 12% anual Flujo de intereses = R = 3,500.00 dado V = [ 65409.72-3500* [{1 - (1+(0.12/2)}^(-32)]/(0.12/2)] / [( 1 + (0.12/2)^ V = [ 65,409.72 - 3500 *[{ 1 -( 1 + V = [ 65,409.72 - 3500 *[{ 1 - 1.06 ^ V = [ 65,409.72 - 3500 *[{ 1 - 0.15 } /( V = [ 65,409.72 - 3500 *( 0.85 / 0.06 )]/( V = [ 65,409.72 - 3500 * 14.08 ] / 0.15 •El 1° de diciembre de 2014 un inversionista compra un Bono del Tesoro de los Esta $65.409,72; obteniendo una rentabilidad del 12% capitalizable semestralmente. Si nominal de $100.000, paga intereses del 7% capitalizable semestralmente y se redim 2030, ¿Cuál es el valor de redención? V Nom i Nom C=( V+ [ R −Vi]∗{ (1 −( 1+𝑖 )^(−𝑛))/𝑖 } ) * (1 + in) C=( V+ [ R −V(i)]∗{ (1 −( 1+𝑖 )^(−𝑛))/𝑖 } ) * (1 + in) C=( V+ [ R ∗{ (1 −( 1+𝑖 )^(−𝑛))/𝑖 " } " −V(i)∗{ (1 −( 1+𝑖 )^(−𝑛))/𝑖 " } " ] ) ) C− R ∗{ (1 −( 1+𝑖 )^(−𝑛))/𝑖 " }"=( V+ [−V(i)∗{ (1 −( 1+𝑖 )^(−𝑛))/𝑖 " } " ] ) ) C− R ∗{ (1 −( 1+𝑖 )^(−𝑛))/𝑖 " }"=( V+ [−V∗{ (1 −( 1+𝑖 )^(−𝑛))/ " } " ] ) ) C− R ∗{ (1 −( 1+𝑖 )^(−𝑛))/𝑖 " }"=( V −V+V (1+𝑖) ^(−𝑛) ) C− R ∗{ (1 −( 1+𝑖 )^(−𝑛))/𝑖 " }"=( V (1+𝑖) ^(−𝑛) ) V = [ C− R ∗{ (1 −( 1+𝑖 )^(−𝑛))/𝑖 " }]"/ (1+𝑖) ^(−𝑛) )
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V = [ 65,409.72 - 49294.2 ]/ 0.15 V = 16,115.57 / 0.15 V = 103,999.99
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Primer Parcial DN-0442 2017 REPOSICION Ejercicio No. 2 2030 - 2014
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