Cálculo Financeiro e Análise de Projectos

7/31/2019 Clculo Financeiro e Anlise de Projectos

1/8

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2/8

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3/8

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4/8

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5/8

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f& Mc}cxefic a |doax ma ~xfecfxa ~d`deci}a mc eama d d}fi`fx aw > >>> csxaw ia lfido maw 6

ecwcw)

ff& C wc d ce~xcwd tsfwcx ~d`dx daw laxicgcmaxcw ia lfido ma af}d|a ew1

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ksxaw gae~aw}aw)

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6/8

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disdo mc 0# da hdiga1 "S}fof{c d~cidw d filaxeda xcoc|di}c c d~xcwci}c }amaw aw wcsw gogsoaw&

8) "ma crdec mc 8 gbdedmd 8>>8%8>>7& Se d`xfgso}ax ~aimcxd/ dg}sdoeci}c/ se ~xakcg}a mc~odi}da c cr~oaxda mse ~aedx ise wcs se }cxxcia) Cwwc }cxxcia ~amcx/ do}cxid}f|deci}c/ wcx

dxxcimdma ~ax 4 >>> sifmdmcw eaic}xfdw "s)e)& da dia) ôdi}dx a ~aedx fe~ofgdx se fi|cw}feci}a

fifgfdo mc 3> >>> s)e) c a gsw}a md wsd edis}cia disdo axdx aw = >>> "figosfima d d~dibd md

lxs}d/ c}g)))&) D ~xamsa disdo ma ~aedx wcx |cimfmd d se ~xca dgaxmdma gae d gaa~cxd}f|d oagdo

tsc mc 4>> s)e) ~ax }aicodmd ia lfido ma ~xfecfxa dia c tsc gxcwgcx }drd mc 3# da dia) D |fmd

}fo ma ~aedx mc 3 diaw/ ia }cima tsdotscx |doax xcwfmsdo/ c d }drd mc ksxa xcoc|di}c ~dxd cw}cd`xfgso}ax mc 0#) Tsdi}dw }aicodmdw mc|cx ~xams{fx disdoeci}c cw}c ~aedx "dmef}d tsc d

~xamsa disdo gaiw}di}c& ~dxd tsc a d`xfgso}ax cw}ckd fi}cxcwwdma ce fe~oceci}dx cw}c ~xakcg}a

ce |c{ mc dxxcimdx a }cxxcia1 "ahw; gae crgc~a ma fi|cw}feci}a fifgfdo gaiwfmcxc tsc }amaw aw

xcw}di}cw |doaxcw wc xc~ax}de da lfido mc gdmd dia)&

7) "ma crdec mc xcgsxwa 8>>8%8>>7& Sed ~cmxcfxd mcgfmfs fe~oceci}dx se ~xakcg}a tsc }cx sed|fmd }fo mc }xw diaw) Ia ~xfecfxa dia wcx icgcwwxfa ~xagcmcx cwgd|da mc se }cxxcia tsc d

ce~xcwd ~awwsf) Gaiwctsci}ceci}c d ce~xcwd mcfrdx mc ~amcx dxxcimdx a }cxxcia a tsc obc

~cxef}fxfd ah}cx sed xcimd disdo mc 7>> s)e ~dàw ia lfido mc gdmd dia) Ia wcx icgcwwxfa

icibse fi|cw}feci}a fifgfdo edw d cwgd|da gsw}dx "d~cidw ia lfido ma ~xfecfxa dia& gcxgd mc 0>>

s)e) Dw xcgcf}dw `cxdmdw ~coa ~xakcg}a wa d~cidw xcgchfmdw ia lfido ma 8 c 7 diaw c/ k otsfmdw mawgsw}aw mc cr~oaxda/ dwgcimce d 7 >>> s)e) disdfw) Ia lfido ma o}fea dia dw crfìgfdw dehfci}dfw

crf`ce tsc a oagdo wckd xcloaxcw}dma/ a tsc fe~ofgd sed mcw~cwd dmfgfaido mc = 3>> s)e) "ia lfido ma

}cxgcfxa dia& D }drd mc ksxa xcoc|di}c d tsc d ce~xcwd ~amc d~ofgdx a wcs gd~f}do mc 4># "disdo&)

d& Gdogsoc d"w& ]FX"w& mcw}c ~xakcg}a)h& Gdogsoc a \DO mcw}c ~xakcg}ag& Tsdo d wsd xcgaecimda d cw}d ce~xcwd1

=) "ma }cw}c fi}cxemfa 8>>8%8>>7& Sed ce~xcwd cw} d ~aimcxdx d ~awwfhfofmdmc mc d}xfhsfx sed|fd}sxd d se maw wcsw |cimcmaxcw) A fi|cw}feci}a icgcwwxfa mc 4> >>> csxaw wc`sfima%wc gsw}aw

mc edis}cia/ wc`sxaw c gaehsw}|cfw mc 4 3>> csxaw ce gdmd se maw = diaw wc`sfi}cw) Ia lfido

ma = dia d |fd}sxd }ce se |doax xcwfmsdo mc 3>> csxaw) Cw~cxd%wc tsc d s}fof{da md |fd}sxd oc|c d

se dseci}a ma osgxa disdo `cxdma ~coa |cimcmax ce gdswd mc 8 >>> csxaw ~dxd 0 >>> csxaw)

Wdhcima tsc a gsw}a mc a~ax}sifmdmc ma gd~f}do mc 8># "da dia&/ wcx tsc d ce~xcwd mc|c dmtsfxfx

d |fd}sxd1 Ksw}flftsc)


7/8

3) "ma crdec mc 4 gbdedmd 8>>8%8>>7& Se ~xams}ax mc wal}pdxc mcgfmfs odidx ia iawwa ~dw se~xams}a mcwci|ao|fma ia cr}cxfax) ^dxd cwwc clcf}a dmtsfxfs aw mfxcf}aw crgoswf|aw mc gaecxgfdof{da

~ax 03> >>> s)e) ^asga mc~afw mc cw}c fxxc|cxw|co fi|cw}feci}a }cx }fma os`dx/ se ficw~cxdma

dseci}a iaw gsw}aw mc cr~oaxda oc|as%a d xc|cx dw wsdw cw}fed}f|dw "}amaw aw |doaxcw ce sifmdmcw

eaic}xfdw&;

% fi|cw}feci}aw fifgfdfw ce ctsf~deci}aw mc d~afa |cimd ma ~xams}a; 4 8>> >>>

% iecxa mc diaw mc |cimd ma ~xams}a d} wsd ahwaocwgigfd; 3 diaw

% xcgcf}dw disdfw ~xa|cifci}cw md |cimd ma ~xams}a; 7>> >>> s)e)

% gsw}aw disdfw xcwso}di}cw md |cimd ma ~xams}a; 4>> >>> s)e)% |doax xcwfmsdo maw ctsf~deci}aw dmtsfxfmaw; =3> >>> s)e)

% }drd mc ksxa xcoc|di}c; 3#

Id wsd a~fifa/ |doc as ia d ~cid gaecxgfdof{dx cw}c ~xams}a1 Cr~oftsc/ eaw}xdima aw gogsoaw d

tsc }c|c tsc xcgaxxcx ~dxd mdx d wsd xcw~aw}d)


8/8

2) "]cw}c mc @cw}a mc Ce~xcwdw mc 8>>0%8>>2& Ws~aibd tsc mc|c cwgaobcx ci}xc mafwctsf~deci}aw do}cxid}f|aw ~dxd sed sifmdmc ldhxfo) A ~xfecfxa/ ci|ao|c se fi|cw}feci}a fifgfdo

"fecmfd}a& mc 4 efoba mc csxaw/ }ce sed |fmd }fo mc < diaw/ `cxd sed xcgcf}d dmfgfaido ~dxd d wsd

ce~xcwd mc 40)0>> csxaw ~ax ew c }ce se gsw}a eciwdo mc edis}cia mc 4)0>> csxaw) A as}xa/

fe~ofgd se fi|cw}feci}a fifgfdo mc 8 efobcw mc csxaw/ `cxd sed xcgcf}d dmfgfaido ~dxd d wsd ce~xcwd

}dehce mc 40)0>> csxaw ~ax ew/ }ce sed |fmd }fo mc 48 diaw/ ia }cima tsdotscx gsw}a mc

edis}cia) Cehaxd didofwc as}xaw ~dxec}xaw tsc gaiw}dxa ma wcs xcod}xfa mcwgxf}f|a mcw}c

fi|cw}feci}a "d wcx ci}xc`sc dmefifw}xda&/ a wcs gxf}xfa

mc cwgaobd wcx d~cidw c crgoswf|deci}c a md xcimfhfofmdmc ma fi|cw}feci}a) A |doax xcwfmsdo mcw}cwctsf~deci}aw isoa c d }drd mc mcwgai}a xcoc|di}c mc =# da dia)

d& Mclfid ]ce~a mc Xcgs~cxda ma Gd~f}do) Tsdo a }ce~a mc xcgs~cxda ma gd~f}do ~dxd gdmd

sed mcw}dw etsfidw1

h& Mclfid \doax Dg}sdof{dma Otsfma) Tsdo a \DO mc gdmd se mcw}cw ~xakcg}aw1

g& Mclfid \doax Disdo Ctsf|doci}c) Tsdo a |doax disdo ctsf|doci}c mc gdmd se mcw}cw ~xakcg}aw1

m& Wc }f|cx tsc a~}dx ~ax se maw mafw/ gaea gae~dxdxfd dw msdw waoscw1 f)c) tsc ctsf~deci}a

a~}dxfd ~ax gae~xdx1

Ksw}flftsc)

6) "Crdec mc ~agd Iaxedo mc @cw}a mc Ce~xcwdw 8>44%8>48& Sed ce~xcwd ~aimcxd xcdof{dx

mafw ~xakc}aw do}cxid}f|aw) A ~xfecfxa gaiwfw}c id cr~oaxda mc sed hdxxd`ce ~dxd lfiwbfmxacog}xfgaw msxdi}c => diaw/ ~xc|cima se fi|cw}feci}a fifgfdo ia |doax mc 7 >>> s)e) c se xclaxa

ma fi|cw}feci}a ia |doax mc 8 >>> s)e) ia lfido ma wc`sima dia) Cw}fed%wc tsc cw}c ~xakc}a `cxc se

dseci}a mdw xcgcf}dw }xfecw}xdfw ia eai}di}c mc 33> s)e/ gae figfa d~cidw ia lfido ma ~xfecfxa dia)

âx as}xa odma/ aw gsw}aw disdfw mc|cxa dseci}dx ce 6>> s)e) c ia bd|cx gsw}aw ia o}fea dia ma

~xakcg}a) A |doax ma ~xakc}a ia lfido md |fmd }fo mc 4 3>> s)e)) Ce do}cxid}f|d da ~xakc}a mcwgxf}a/ b

a ~xakcg}a mc cr~oaxdx se ia|a }xddma xama|fxfa msxdi}c 8> diaw) A fi|cw}feci}a fifgfdo dwwagfdma d

cw}c ~xakcg}a mc = >>> s)e)) A |doax xcwfmsdo ma ~xakc}a mc 3>> s)e)) Dw xcgcf}dw eciwdfw `cxdmdw

wa mc 4>> s)e) d} da lfido maw ~xfecfxaw 4> diaw ma ~xakc}a c mc 43> csxaw iaw 4> diaw wc`sfi}cw)

Aw gsw}aw }xfecw}xdfw wa gaiw}di}cw da oaià md |fmd ma ~xakc}a/ gae se |doax mc 7>> s)e)/ c ~dàw

wce~xc ia lfido ma 8 ew mc gdmd }xfecw}xc) D }drd mc ksxa disdo tsc |fàxd iaw ~xrfeaw => diaw

mc 8 ~ax gci}a)

d& Fimftsc gaea d|dofd gdmd ~xakc}a ~cx wc s}fof{dima a gxf}xfa \DO "\doax Dg}sdof{dma Otsfma&)

h& ^dxd mcgfmfx tsdo maw ~xakc}aw a edfw xci}|co/ mclfid c s}fof{c a gxf}xfa ma \doax Ctsf|doci}c

Disdo)

g& Dmfgfaidoeci}c cr~ofgf}c gaea gdogsod a imfgc mc xcimfhfofmdmc maw ~xakc}aw "\DO!"|doax

d}sdof{dma mdw mcw~cwdw mc fi|cw}feci}a&& c mf`d ce tsc gfxgsiw}igfdw mc|c wcx s}fof{dma)

m& Se gxf}xfa do}cxid}f|a ~dxd gae~dxda mc ~xakc}aw a ]ce~a mc Xcgs~cxda ma Gd~f}do)

Mclfid%a "edw ia ldd gai}dw$& c fimftsc msdw mcw|di}d`ciw mcw}c)

Cálculo Financeiro e Análise de Projectos

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