Caso 1 VF

Periodos
Aos de estudios universitarios (AEU)
Periodo de gracia (PG)
Perodo de repago (PR)
240
Aos al lanzamiento del esquema (AL)
aos
ao
meses
aos
Tasas
Tasa de inters efectiva mensual (TEM 1)
0.80%
Tasa de inters efectiva anual (TEA 1)
10.00%
Tasa de inters efectiva mensual (TEM 2)
1.17%
Tasa de inters efectiva anual (TEA 2)
15%
Tasa de inflacin esperada anual (INFLAE)
3.00%
Tasa de inflacin por experiencia
2.37%
Tasa de inflacin por experiencia al cuadrado
-0.03%
Estado
IES
Garanta mxima
45.00%
80.00%
Garanta mnima
20.00%
25.00%
Costos operativos
80.00%
IR
UITs ganadas
% efectivo
0.00%
27
15.00%
54
21.00%
55
30.00%
Valor de UIT
3500.00
Aumento de UITs
0.00%
COK
Tasa mnima de ganancia del fondo
11.00%
10.00%
5.82%
5.40%
Estudios
Universitarios
Pensin anual de referencia
Pensin semestral de referencia
11,000
soles
5,500
soles
Intereses a pagar durante los Aos de estudios Q1
30
60
100
soles
2,914
soles
Ingreso anual promedio ao base al egresar
34,972
soles
Ingreso mensual esperado al egresar
2,983
soles
41,758
soles
Ingreso mensual promedio ao base al egresar
Ingreso anual esperado al egresar

Ingreso anual promedio base educacin secundaria
Probabilidad de desercin por ao de estudio
8,165
Ao 1 (p1)
4.00%
Ao 2 (p2)
4.00%
Ao 3 (p3)
4.00%
Ao 4 (p4)
4.00%
Ao 5 (p5)
4.00%
Probabilidad de desercin condicional estudio

Ao 1 (d1)
4.00%
Ao 2 (d2)
3.84%
Ao 3 (d3)
3.69%
Ao 4 (d4)
3.54%
Ao 5 (d5)
3.40%
Probabilidad total
18.46%
Probabilidad de default promedio inicial
6.38%
Probabilidad de default promedio final
0.00%
Aos
Caso N 1: Un programa de crdito educativo para el Per
Cronograma de Pagos
Estudios Universitarios Quintil 1 d
Desembolso del Saldo de la Intereses

banco
deuda
generados
Ao 1
Ao 2
Aos de
estudios
Ao 3
Mes 0
Mes 1
Mes 2
Mes 3
Mes 4
Mes 5
Mes 6
Mes 7
Mes 8
Mes 9
Mes 10
Mes 11
Mes 12
Mes 1
Mes 2
Mes 3
Mes 4
Mes 5
Mes 6
Mes 7
Mes 8
Mes 9
Mes 10
Mes 11
Mes 12
Mes 1
Mes 2
Mes 3
Mes 4
Mes 5
Mes 6
5,500
5,500
5,500
5,500
5,500
5,500
5,514
5,528
5,542
5,556
5,570
5,585
11,143
11,202
11,261
11,321
11,381
11,442
17,047
17,153
17,260
17,368
17,476
17,586
23,240
23,395
23,551
23,709
23,868
24,029
29,734
29,941
30,150
30,360
30,573
30,786
44
44
44
44
44
44
88
89
89
90
90
91
135
136
137
138
138
139
184
185
187
188
189
190
235
237
239
240
242
244
Aos de
estudios
Ao 3
Ao 4
Ao 5
Periodo
de gracia
Ao 6
Ao 7
Mes 7
Mes 8
Mes 9
Mes 10
Mes 11
Mes 12
Mes 1
Mes 2
Mes 3
Mes 4
Mes 5
Mes 6
Mes 7
Mes 8
Mes 9
Mes 10
Mes 11
Mes 12
Mes 1
Mes 2
Mes 3
Mes 4
Mes 5
Mes 6
Mes 7
Mes 8
Mes 9
Mes 10
Mes 11
Mes 12
36,546
36,807
37,071
37,336
37,604
37,874
43,690
44,008
44,329
44,652
44,979
45,307
51,182
51,560
51,942
52,326
52,713
53,103
59,041
59,482
59,926
60,374
60,825
61,280
67,283
67,789
68,300
68,814
69,333
69,856
289
291
294
296
298
300
346
348
351
353
356
359
405
408
411
414
417
420
467
471
474
478
481
485
533
537
541
545
549
553
70,383
70,914
71,450
71,989
72,534
73,082
73,635
74,192
74,753
75,320
75,890
76,465
557
561
565
570
574
578
583
587
592
596
601
605
Saldo de la
deuda
Cuota
Intereses
Mes 1
76,407
953
895
Mes 2
76,348
953
894
Mes 3
76,288
953
893
Mes 4
76,227
953
893
5,500
5,500
5,500
5,500
Mes 1
Mes 2
Mes 3
Mes 4
Mes 5
Mes 6
Mes 7
Mes 8
Mes 9
Mes 10
Mes 11
Mes 12
Ao 7
Ao 8
Ao 9
Mes 5
76,166
953
892
Mes 6
76,104
953
891
Mes 7
76,042
953
890
Mes 8
75,978
953
890
Mes 9
75,914
953
889
Mes 10
75,849
953
888
Mes 11
75,784
953
887
Mes 12
75,717
953
887
Mes 1
75,650
953
886
Mes 2
75,582
953
885
Mes 3
75,513
953
884
Mes 4
75,444
953
884
Mes 5
75,373
953
883
Mes 6
75,302
953
882
Mes 7
75,230
953
881
Mes 8
75,157
953
880
Mes 9
75,083
953
879
Mes 10
75,009
953
878
Mes 11
74,933
953
878
Mes 12
74,857
953
877
Mes 1
74,780
953
876
Mes 2
74,701
953
875
Mes 3
74,622
953
874
Mes 4
74,542
953
873
Mes 5
74,461
953
872
Mes 6
74,380
953
871
Mes 7
74,297
953
870
Mes 8
74,213
953
869
Mes 9
74,128
953
868
Ao 9
Ao 10
Ao 11
Mes 10
74,042
953
867
Mes 11
73,955
953
866
Mes 12
73,868
953
865
Mes 1
73,779
953
864
Mes 2
73,689
953
863
Mes 3
73,598
953
862
Mes 4
73,506
953
861
Mes 5
73,413
953
860
Mes 6
73,319
953
859
Mes 7
73,224
953
858
Mes 8
73,127
953
857
Mes 9
73,030
953
856
Mes 10
72,931
953
854
Mes 11
72,831
953
853
Mes 12
72,730
953
852
Mes 1
72,628
953
851
Mes 2
72,525
953
850
Mes 3
72,420
953
849
Mes 4
72,315
953
847
Mes 5
72,208
953
846
Mes 6
72,099
953
845
Mes 7
71,990
953
844
Mes 8
71,879
953
842
Mes 9
71,767
953
841
Mes 10
71,653
953
840
Mes 11
71,539
953
838
Mes 12
71,423
953
837
Mes 1
71,305
953
836
Mes 2
71,186
953
834
Ao 12
Ao 13
Ao 14
Mes 3
71,066
953
833
Mes 4
70,945
953
831
Mes 5
70,822
953
830
Mes 6
70,697
953
829
Mes 7
70,571
953
827
Mes 8
70,444
953
826
Mes 9
70,315
953
824
Mes 10
70,184
953
823
Mes 11
70,052
953
821
Mes 12
69,919
953
820
Mes 1
69,784
953
818
Mes 2
69,647
953
816
Mes 3
69,509
953
815
Mes 4
69,369
953
813
Mes 5
69,228
953
812
Mes 6
69,085
953
810
Mes 7
68,940
953
808
Mes 8
68,793
953
807
Mes 9
68,645
953
805
Mes 10
68,495
953
803
Mes 11
68,344
953
801
Mes 12
68,190
953
800
Mes 1
68,035
953
798
Mes 2
67,878
953
796
Mes 3
67,719
953
794
Mes 4
67,558
953
792
Mes 5
67,396
953
790
Mes 6
67,231
953
789
Mes 7
67,064
953
787
Ao 14
Ao 15
Ao 16
Periodo
de repago
Mes 8
66,896
953
785
Mes 9
66,726
953
783
Mes 10
66,553
953
781
Mes 11
66,379
953
779
Mes 12
66,202
953
777
Mes 1
66,024
953
775
Mes 2
65,843
953
772
Mes 3
65,661
953
770
Mes 4
65,476
953
768
Mes 5
65,289
953
766
Mes 6
65,099
953
764
Mes 7
64,908
953
762
Mes 8
64,714
953
759
Mes 9
64,518
953
757
Mes 10
64,320
953
755
Mes 11
64,120
953
753
Mes 12
63,917
953
750
Mes 1
63,712
953
748
Mes 2
63,504
953
745
Mes 3
63,294
953
743
Mes 4
63,081
953
741
Mes 5
62,866
953
738
Mes 6
62,649
953
736
Mes 7
62,429
953
733
Mes 8
62,206
953
730
Mes 9
61,981
953
728
Mes 10
61,753
953
725
Mes 11
61,522
953
723
Mes 12
61,289
953
720
Periodo
de repago
Ao 17
Ao 18
Ao 19
Mes 1
61,053
953
717
Mes 2
60,814
953
714
Mes 3
60,573
953
712
Mes 4
60,328
953
709
Mes 5
60,081
953
706
Mes 6
59,831
953
703
Mes 7
59,578
953
700
Mes 8
59,322
953
697
Mes 9
59,063
953
694
Mes 10
58,801
953
691
Mes 11
58,535
953
688
Mes 12
58,267
953
685
Mes 1
57,996
953
682
Mes 2
57,721
953
679
Mes 3
57,444
953
675
Mes 4
57,163
953
672
Mes 5
56,878
953
669
Mes 6
56,591
953
665
Mes 7
56,300
953
662
Mes 8
56,005
953
659
Mes 9
55,708
953
655
Mes 10
55,406
953
652
Mes 11
55,101
953
648
Mes 12
54,793
953
645
Mes 1
54,481
953
641
Mes 2
54,165
953
637
Mes 3
53,846
953
634
Mes 4
53,523
953
630
Mes 5
53,196
953
626
Ao 19
Ao 20
Ao 21
Mes 6
52,865
953
622
Mes 7
52,531
953
619
Mes 8
52,192
953
615
Mes 9
51,850
953
611
Mes 10
51,503
953
607
Mes 11
51,153
953
603
Mes 12
50,798
953
598
Mes 1
50,440
953
594
Mes 2
50,077
953
590
Mes 3
49,709
953
586
Mes 4
49,338
953
582
Mes 5
48,962
953
577
Mes 6
48,582
953
573
Mes 7
48,197
953
568
Mes 8
47,808
953
564
Mes 9
47,414
953
559
Mes 10
47,016
953
555
Mes 11
46,613
953
550
Mes 12
46,205
953
545
Mes 1
45,793
953
541
Mes 2
45,376
953
536
Mes 3
44,953
953
531
Mes 4
44,526
953
526
Mes 5
44,094
953
521
Mes 6
43,657
953
516
Mes 7
43,215
953
511
Mes 8
42,767
953
506
Mes 9
42,314
953
500
Mes 10
41,856
953
495
Ao 22
Ao 23
Ao 24
Mes 11
41,393
953
490
Mes 12
40,924
953
484
Mes 1
40,450
953
479
Mes 2
39,970
953
473
Mes 3
39,485
953
468
Mes 4
38,994
953
462
Mes 5
38,497
953
456
Mes 6
37,994
953
450
Mes 7
37,486
953
445
Mes 8
36,971
953
439
Mes 9
36,451
953
433
Mes 10
35,924
953
426
Mes 11
35,391
953
420
Mes 12
34,852
953
414
Mes 1
34,307
953
408
Mes 2
33,755
953
401
Mes 3
33,197
953
395
Mes 4
32,632
953
388
Mes 5
32,061
953
382
Mes 6
31,483
953
375
Mes 7
30,898
953
368
Mes 8
30,307
953
362
Mes 9
29,708
953
355
Mes 10
29,103
953
348
Mes 11
28,490
953
341
Mes 12
27,870
953
333
Mes 1
27,243
953
326
Mes 2
26,609
953
319
Mes 3
25,967
953
311
Ao 24
Ao 25
Ao 26
Mes 4
25,318
953
304
Mes 5
24,661
953
296
Mes 6
23,997
953
289
Mes 7
23,324
953
281
Mes 8
22,644
953
273
Mes 9
21,956
953
265
Mes 10
21,260
953
257
Mes 11
20,555
953
249
Mes 12
19,843
953
240
Mes 1
19,122
953
232
Mes 2
18,393
953
224
Mes 3
17,655
953
215
Mes 4
16,908
953
207
Mes 5
16,153
953
198
Mes 6
15,389
953
189
Mes 7
14,616
953
180
Mes 8
13,834
953
171
Mes 9
13,042
953
162
Mes 10
12,242
953
153
Mes 11
11,432
953
143
Mes 12
10,613
953
134
Mes 1
9,784
953
124
Mes 2
8,945
953
114
Mes 3
8,097
953
105
Mes 4
7,238
953
95
Mes 5
6,370
953
85
Mes 6
5,491
953
75
Mes 7
4,603
953
64
Mes 8
3,703
953
54
Ao 26
Mes 9
2,794
953
43
Mes 10
1,873
953
33
Mes 11
942
953
22
Mes 12
953
11
el Per
Estudios Universitarios Quintil 2 d
Intereses
pagados
30
30
30
30
30
30
30
30
30
30
30
30
30
30
30
30
30
30
30
30
30
30
30
30
30
30
30
30
30
30
Ao 1
Ao 2
Aos de
estudios
Ao 3
Mes 0
Mes 1
Mes 2
Mes 3
Mes 4
Mes 5
Mes 6
Mes 7
Mes 8
Mes 9
Mes 10
Mes 11
Mes 12
Mes 1
Mes 2
Mes 3
Mes 4
Mes 5
Mes 6
Mes 7
Mes 8
Mes 9
Mes 10
Mes 11
Mes 12
Mes 1
Mes 2
Mes 3
Mes 4
Mes 5
Mes 6
30
30
30
30
30
30
30
30
30
30
30
30
30
30
30
30
30
30
30
30
30
30
30
30
30
30
30
30
30
30
30
30
30
30
30
30
30
30
30
30
30
30
Aos de
estudios
Ao 3
Ao 4
Ao 5
Periodo
de gracia
Ao 6
Mes 7
Mes 8
Mes 9
Mes 10
Mes 11
Mes 12
Mes 1
Mes 2
Mes 3
Mes 4
Mes 5
Mes 6
Mes 7
Mes 8
Mes 9
Mes 10
Mes 11
Mes 12
Mes 1
Mes 2
Mes 3
Mes 4
Mes 5
Mes 6
Mes 7
Mes 8
Mes 9
Mes 10
Mes 11
Mes 12
Mes 1
Mes 2
Mes 3
Mes 4
Mes 5
Mes 6
Mes 7
Mes 8
Mes 9
Mes 10
Mes 11
Mes 12
Amortizacin
58
Mes 1
59
Mes 2
60
Mes 3
61
Mes 4
Ao 7
61
62
Mes 5
Ao 7
Mes 6
63
Mes 7
63
Mes 8
64
Mes 9
65
Mes 10
66
Mes 11
66
Mes 12
67
Mes 1
68
Mes 2
69
Mes 3
70
Mes 4
70
Mes 5
71
Ao 8
Mes 6
72
Mes 7
73
Mes 8
74
Mes 9
75
Mes 10
75
Mes 11
76
Mes 12
77
Mes 1
78
Mes 2
79
Mes 3
80
Mes 4
81
Mes 5
82
Ao 9
Mes 6
83
Mes 7
84
Mes 8
85
Mes 9
Ao 9
86
Mes 10
87
Mes 11
88
Mes 12
89
Mes 1
90
Mes 2
91
Mes 3
92
Mes 4
93
Mes 5
94
Ao 10
Mes 6
95
Mes 7
96
Mes 8
97
Mes 9
99
Mes 10
100
Mes 11
101
Mes 12
102
Mes 1
103
Mes 2
105
Mes 3
106
Mes 4
107
Mes 5
108
Ao 11
Mes 6
110
Mes 7
111
Mes 8
112
Mes 9
113
Mes 10
115
Mes 11
116
Mes 12
117
Mes 1
119
Mes 2
120
Mes 3
122
Mes 4
123
Mes 5
124
Ao 12
Mes 6
126
Mes 7
127
Mes 8
129
Mes 9
130
Mes 10
132
Mes 11
133
Mes 12
135
Mes 1
137
Mes 2
138
Mes 3
140
Mes 4
141
Mes 5
143
Ao 13
Mes 6
145
Mes 7
146
Mes 8
148
Mes 9
150
Mes 10
152
Mes 11
153
Mes 12
155
Mes 1
157
Mes 2
159
Mes 3
161
Mes 4
163
Mes 5
165
166
Ao 14
Mes 6
Mes 7
Ao 14
168
Mes 8
170
Mes 9
172
Mes 10
174
Mes 11
176
Mes 12
179
Mes 1
181
Mes 2
183
Mes 3
185
Mes 4
187
Mes 5
189
Ao 15
Mes 6
191
Mes 7
194
Mes 8
196
Mes 9
198
Mes 10
201
Mes 11
203
Mes 12
205
Mes 1
208
Mes 2
210
Mes 3
213
Mes 4
215
Mes 5
218
Ao 16
Mes 6
220
Mes 7
223
Mes 8
225
Mes 9
228
Mes 10
231
Mes 11
233
Periodo
de repago
Mes 12
236
Periodo
de repago
Mes 1
239
Mes 2
242
Mes 3
244
Mes 4
247
Mes 5
250
Ao 17
Mes 6
253
Mes 7
256
Mes 8
259
Mes 9
262
Mes 10
265
Mes 11
268
Mes 12
271
Mes 1
275
Mes 2
278
Mes 3
281
Mes 4
284
Mes 5
288
Ao 18
Mes 6
291
Mes 7
294
Mes 8
298
Mes 9
301
Mes 10
305
Mes 11
308
Mes 12
312
Mes 1
316
Mes 2
319
Mes 3
323
Mes 4
327
Mes 5
Ao 19
331
Ao 19
Mes 6
335
Mes 7
338
Mes 8
342
Mes 9
346
Mes 10
350
Mes 11
355
Mes 12
359
Mes 1
363
Mes 2
367
Mes 3
371
Mes 4
376
Mes 5
380
Ao 20
Mes 6
385
Mes 7
389
Mes 8
394
Mes 9
398
Mes 10
403
Mes 11
408
Mes 12
412
Mes 1
417
Mes 2
422
Mes 3
427
Mes 4
432
Mes 5
437
Ao 21
Mes 6
442
Mes 7
447
Mes 8
453
Mes 9
458
Mes 10
463
Mes 11
469
Mes 12
474
Mes 1
480
Mes 2
485
Mes 3
491
Mes 4
497
Mes 5
503
Ao 22
Mes 6
509
Mes 7
515
Mes 8
521
Mes 9
527
Mes 10
533
Mes 11
539
Mes 12
545
Mes 1
552
Mes 2
558
Mes 3
565
Mes 4
571
Mes 5
578
Ao 23
Mes 6
585
Mes 7
592
Mes 8
598
Mes 9
605
Mes 10
613
Mes 11
620
Mes 12
627
Mes 1
634
Mes 2
642
Mes 3
Ao 24
649
Mes 4
657
Mes 5
665
Ao 24
Mes 6
672
Mes 7
680
Mes 8
688
Mes 9
696
Mes 10
704
Mes 11
713
Mes 12
721
Mes 1
729
Mes 2
738
Mes 3
747
Mes 4
755
Mes 5
764
Ao 25
Mes 6
773
Mes 7
782
Mes 8
791
Mes 9
800
Mes 10
810
Mes 11
819
Mes 12
829
Mes 1
839
Mes 2
848
Mes 3
858
Mes 4
868
Mes 5
879
Ao 26
Mes 6
889
Mes 7
899
Mes 8
Ao 26
910
Mes 9
920
Mes 10
931
Mes 11
942
Mes 12
Desembolso del
banco
Saldo de la Intereses
deuda
generados
Intereses
pagados
5,500
5,500
5,500
5,500
5,500
5,500
5,484
5,468
5,451
5,435
5,418
5,401
10,928
10,955
10,983
11,010
11,038
11,066
16,638
16,711
16,784
16,858
16,932
17,007
22,627
22,747
22,869
22,991
23,114
23,239
28,908
29,078
29,250
29,423
29,598
29,774
44
44
44
43
43
43
87
87
87
88
88
88
132
133
133
134
134
135
179
180
181
182
183
184
229
231
232
233
235
236
60
60
60
60
60
60
60
60
60
60
60
60
60
60
60
60
60
60
60
60
60
60
60
60
60
60
60
60
60
60
5,500
5,500
5,500
5,500
35,495
35,718
35,943
36,170
36,398
36,629
42,404
42,683
42,963
43,246
43,530
43,818
49,651
49,987
50,325
50,667
51,011
51,357
57,251
57,647
58,047
58,450
58,856
59,265
65,222
65,682
66,146
66,613
67,084
67,559
281
283
285
287
288
290
336
338
340
343
345
347
393
396
399
401
404
407
453
457
460
463
466
469
516
520
524
527
531
535
60
60
60
60
60
60
60
60
60
60
60
60
60
60
60
60
60
60
60
60
60
60
60
60
60
60
60
60
60
60
68,038
68,520
69,007
69,497
69,991
70,489
70,991
71,498
72,008
72,522
73,040
73,563
539
543
546
550
554
558
562
566
570
574
578
582
60
60
60
60
60
60
60
60
60
60
60
60
Saldo de la
deuda
Cuota
73,506
917
861
56
73,450
917
860
57
73,392
917
859
58
73,334
917
859
58
Intereses Amortizacin
73,275
917
858
59
73,215
917
857
60
73,155
917
857
60
73,094
917
856
61
73,032
917
855
62
72,970
917
854
62
72,907
917
854
63
72,843
917
853
64
72,778
917
852
65
72,713
917
852
65
72,647
917
851
66
72,580
917
850
67
72,512
917
849
68
72,443
917
848
69
72,374
917
848
69
72,304
917
847
70
72,233
917
846
71
72,161
917
845
72
72,089
917
844
73
72,015
917
843
73
71,941
917
843
74
71,866
917
842
75
71,790
917
841
76
71,713
917
840
77
71,635
917
839
78
71,556
917
838
79
71,476
917
837
80
71,396
917
836
81
71,314
917
835
82
71,232
917
834
83
71,148
917
833
83
71,064
917
832
84
70,978
917
831
85
70,892
917
830
86
70,804
917
829
87
70,716
917
828
88
70,626
917
827
90
70,536
917
826
91
70,444
917
825
92
70,351
917
824
93
70,257
917
823
94
70,163
917
822
95
70,067
917
821
96
69,969
917
820
97
69,871
917
819
98
69,772
917
817
99
69,671
917
816
101
69,569
917
815
102
69,466
917
814
103
69,362
917
813
104
69,257
917
812
105
69,150
917
810
107
69,042
917
809
108
68,933
917
808
109
68,823
917
807
110
68,711
917
805
112
68,598
917
804
113
68,484
917
803
114
68,368
917
801
116
68,251
917
800
117
68,133
917
799
118
68,013
917
797
120
67,892
917
796
121
67,770
917
794
123
67,646
917
793
124
67,520
917
791
125
67,393
917
790
127
67,265
917
789
128
67,135
917
787
130
67,003
917
785
131
66,870
917
784
133
66,736
917
782
135
66,600
917
781
136
66,462
917
779
138
66,323
917
778
139
66,182
917
776
141
66,039
917
774
143
65,895
917
773
144
65,749
917
771
146
65,602
917
769
148
65,452
917
768
149
65,301
917
766
151
65,148
917
764
153
64,994
917
762
155
64,837
917
760
156
64,679
917
759
158
64,519
917
757
160
64,357
917
755
162
64,193
917
753
164
64,027
917
751
166
63,859
917
749
168
63,689
917
747
170
63,518
917
745
172
63,344
917
743
174
63,168
917
741
176
62,990
917
739
178
62,810
917
737
180
62,628
917
735
182
62,444
917
733
184
62,258
917
731
186
62,069
917
728
188
61,879
917
726
191
61,686
917
724
193
61,490
917
722
195
61,293
917
719
197
61,093
917
717
200
60,891
917
715
202
60,687
917
712
204
60,480
917
710
207
60,270
917
708
209
60,059
917
705
212
59,844
917
703
214
59,628
917
700
217
59,408
917
698
219
59,187
917
695
222
58,962
917
692
224
58,735
917
690
227
58,505
917
687
230
58,273
917
685
232
58,038
917
682
235
57,800
917
679
238
57,559
917
676
241
57,316
917
673
243
57,070
917
671
246
56,821
917
668
249
56,568
917
665
252
56,313
917
662
255
56,055
917
659
258
55,794
917
656
261
55,530
917
653
264
55,263
917
650
267
54,993
917
647
270
54,719
917
643
273
54,442
917
640
277
54,163
917
637
280
53,879
917
634
283
53,593
917
630
287
53,303
917
627
290
53,010
917
624
293
52,713
917
620
297
52,413
917
617
300
52,109
917
613
304
51,802
917
610
307
51,491
917
606
311
51,177
917
602
314
50,859
917
599
318
50,537
917
595
322
50,211
917
591
326
49,882
917
587
329
49,548
917
584
333
49,211
917
580
337
48,870
917
576
341
48,525
917
572
345
48,176
917
568
349
47,822
917
564
353
47,465
917
560
357
47,104
917
555
362
46,738
917
551
366
46,368
917
547
370
45,993
917
543
374
45,614
917
538
379
45,231
917
534
383
44,844
917
529
388
44,451
917
525
392
44,054
917
520
397
43,653
917
515
401
43,247
917
511
406
42,836
917
506
411
42,420
917
501
416
42,000
917
496
421
41,574
917
491
426
41,144
917
486
430
40,708
917
481
436
40,267
917
476
441
39,822
917
471
446
39,371
917
466
451
38,914
917
461
456
38,453
917
455
462
37,986
917
450
467
37,513
917
444
472
37,035
917
439
478
36,552
917
433
484
36,063
917
428
489
35,568
917
422
495
35,067
917
416
501
34,560
917
410
507
34,048
917
404
513
33,529
917
398
519
33,004
917
392
525
32,474
917
386
531
31,937
917
380
537
31,394
917
374
543
30,844
917
367
550
30,288
917
361
556
29,725
917
354
563
29,156
917
348
569
28,580
917
341
576
27,998
917
334
583
27,409
917
328
589
26,812
917
321
596
26,209
917
314
603
25,599
917
307
610
24,982
917
300
617
24,357
917
292
625
23,725
917
285
632
23,086
917
278
639
22,439
917
270
647
21,784
917
263
654
21,122
917
255
662
20,453
917
247
670
19,775
917
239
678
19,090
917
231
686
18,396
917
223
694
17,694
917
215
702
16,984
917
207
710
16,266
917
199
718
15,540
917
190
727
14,805
917
182
735
14,061
917
173
744
13,308
917
165
752
12,547
917
156
761
11,777
917
147
770
10,998
917
138
779
10,210
917
129
788
9,412
917
119
797
8,606
917
110
807
7,789
917
101
816
6,964
917
91
826
6,128
917
81
835
5,283
917
72
845
4,428
917
62
855
3,563
917
52
865
2,688
917
42
875
1,802
917
31
885
906
917
21
896
917
11
906
Estudios Universitarios Quintil 3 de Ingresos
Desembolso del banco
Ao 1
Ao 2
Aos de
estudios
Ao 3
Mes 0
Mes 1
Mes 2
Mes 3
Mes 4
Mes 5
Mes 6
Mes 7
Mes 8
Mes 9
Mes 10
Mes 11
Mes 12
Mes 1
Mes 2
Mes 3
Mes 4
Mes 5
Mes 6
Mes 7
Mes 8
Mes 9
Mes 10
Mes 11
Mes 12
Mes 1
Mes 2
Mes 3
Mes 4
Mes 5
Mes 6
Saldo de la
deuda
Intereses
generados
5,444
5,387
5,330
5,273
5,215
5,156
10,641
10,626
10,611
10,596
10,580
10,564
16,092
16,121
16,149
16,178
16,207
16,236
21,810
21,884
21,958
22,033
22,109
22,185
27,806
27,928
28,050
28,174
28,299
28,424
44
43
43
43
42
42
85
85
85
85
84
84
128
128
129
129
129
129
173
174
175
175
176
176
221
222
223
224
225
226
5,500
5,500
5,500
5,500
5,500
5,500
Aos de
estudios
Ao 3
Ao 4
Ao 5
Periodo de
gracia
Ao 6
Ao 7
Mes 7
Mes 8
Mes 9
Mes 10
Mes 11
Mes 12
Mes 1
Mes 2
Mes 3
Mes 4
Mes 5
Mes 6
Mes 7
Mes 8
Mes 9
Mes 10
Mes 11
Mes 12
Mes 1
Mes 2
Mes 3
Mes 4
Mes 5
Mes 6
Mes 7
Mes 8
Mes 9
Mes 10
Mes 11
Mes 12
34,095
34,267
34,440
34,615
34,791
34,968
40,691
40,915
41,142
41,370
41,600
41,831
47,609
47,888
48,170
48,454
48,741
49,029
54,864
55,202
55,542
55,885
56,230
56,579
62,474
62,872
63,273
63,678
64,086
64,497
271
272
273
275
276
277
323
324
326
328
330
332
377
380
382
384
386
389
435
437
440
443
446
448
495
498
501
505
508
511
64,911
65,329
65,750
66,174
66,602
67,033
67,467
67,905
68,347
68,792
69,240
69,692
514
518
521
524
528
531
535
538
541
545
549
552
Saldo de la deuda
Cuota
Intereses
Mes 1
69,639
869
815
Mes 2
69,585
869
815
Mes 3
69,531
869
814
Mes 4
69,475
869
814
5,500
5,500
5,500
5,500
Mes 1
Mes 2
Mes 3
Mes 4
Mes 5
Mes 6
Mes 7
Mes 8
Mes 9
Mes 10
Mes 11
Mes 12
Ao 7
Ao 8
Ao 9
Mes 5
69,420
869
813
Mes 6
69,363
869
812
Mes 7
69,306
869
812
Mes 8
69,248
869
811
Mes 9
69,190
869
810
Mes 10
69,131
869
810
Mes 11
69,071
869
809
Mes 12
69,010
869
808
Mes 1
68,949
869
807
Mes 2
68,887
869
807
Mes 3
68,824
869
806
Mes 4
68,761
869
805
Mes 5
68,697
869
805
Mes 6
68,632
869
804
Mes 7
68,566
869
803
Mes 8
68,500
869
802
Mes 9
68,433
869
801
Mes 10
68,365
869
801
Mes 11
68,296
869
800
Mes 12
68,226
869
799
Mes 1
68,156
869
798
Mes 2
68,085
869
797
Mes 3
68,013
869
797
Mes 4
67,940
869
796
Mes 5
67,866
869
795
Mes 6
67,791
869
794
Mes 7
67,716
869
793
Mes 8
67,639
869
792
Mes 9
67,562
869
791
Ao 9
Ao 10
Ao 11
Mes 10
67,484
869
790
Mes 11
67,405
869
790
Mes 12
67,325
869
789
Mes 1
67,244
869
788
Mes 2
67,162
869
787
Mes 3
67,079
869
786
Mes 4
66,995
869
785
Mes 5
66,910
869
784
Mes 6
66,824
869
783
Mes 7
66,738
869
782
Mes 8
66,650
869
781
Mes 9
66,561
869
780
Mes 10
66,471
869
779
Mes 11
66,380
869
778
Mes 12
66,288
869
777
Mes 1
66,195
869
776
Mes 2
66,101
869
774
Mes 3
66,006
869
773
Mes 4
65,909
869
772
Mes 5
65,812
869
771
Mes 6
65,713
869
770
Mes 7
65,613
869
769
Mes 8
65,512
869
768
Mes 9
65,410
869
766
Mes 10
65,307
869
765
Mes 11
65,202
869
764
Mes 12
65,096
869
763
Mes 1
64,989
869
762
Mes 2
64,881
869
760
Ao 12
Ao 13
Ao 14
Mes 3
64,771
869
759
Mes 4
64,661
869
758
Mes 5
64,548
869
757
Mes 6
64,435
869
755
Mes 7
64,320
869
754
Mes 8
64,204
869
753
Mes 9
64,087
869
751
Mes 10
63,968
869
750
Mes 11
63,847
869
748
Mes 12
63,726
869
747
Mes 1
63,603
869
746
Mes 2
63,478
869
744
Mes 3
63,352
869
743
Mes 4
63,225
869
741
Mes 5
63,096
869
740
Mes 6
62,965
869
738
Mes 7
62,833
869
737
Mes 8
62,700
869
735
Mes 9
62,565
869
734
Mes 10
62,428
869
732
Mes 11
62,290
869
730
Mes 12
62,150
869
729
Mes 1
62,009
869
727
Mes 2
61,865
869
726
Mes 3
61,721
869
724
Mes 4
61,574
869
722
Mes 5
61,426
869
720
Mes 6
61,276
869
719
Mes 7
61,124
869
717
Ao 14
Ao 15
Ao 16
Periodo de
repago
Mes 8
60,971
869
715
Mes 9
60,815
869
713
Mes 10
60,658
869
712
Mes 11
60,499
869
710
Mes 12
60,338
869
708
Mes 1
60,176
869
706
Mes 2
60,011
869
704
Mes 3
59,845
869
702
Mes 4
59,676
869
700
Mes 5
59,506
869
698
Mes 6
59,333
869
696
Mes 7
59,159
869
694
Mes 8
58,982
869
692
Mes 9
58,804
869
690
Mes 10
58,623
869
688
Mes 11
58,440
869
686
Mes 12
58,255
869
684
Mes 1
58,068
869
682
Mes 2
57,879
869
679
Mes 3
57,687
869
677
Mes 4
57,494
869
675
Mes 5
57,298
869
673
Mes 6
57,099
869
670
Mes 7
56,899
869
668
Mes 8
56,696
869
666
Mes 9
56,491
869
663
Mes 10
56,283
869
661
Mes 11
56,073
869
659
Mes 12
55,860
869
656
Periodo de
repago
Ao 17
Ao 18
Ao 19
Mes 1
55,645
869
654
Mes 2
55,427
869
651
Mes 3
55,207
869
649
Mes 4
54,984
869
646
Mes 5
54,759
869
643
Mes 6
54,531
869
641
Mes 7
54,300
869
638
Mes 8
54,067
869
635
Mes 9
53,831
869
633
Mes 10
53,592
869
630
Mes 11
53,351
869
627
Mes 12
53,106
869
624
Mes 1
52,859
869
621
Mes 2
52,609
869
618
Mes 3
52,355
869
616
Mes 4
52,099
869
613
Mes 5
51,840
869
610
Mes 6
51,578
869
607
Mes 7
51,313
869
603
Mes 8
51,045
869
600
Mes 9
50,773
869
597
Mes 10
50,499
869
594
Mes 11
50,221
869
591
Mes 12
49,940
869
588
Mes 1
49,655
869
584
Mes 2
49,368
869
581
Mes 3
49,077
869
578
Mes 4
48,782
869
574
Mes 5
48,484
869
571
Ao 19
Ao 20
Ao 21
Mes 6
48,183
869
567
Mes 7
47,878
869
564
Mes 8
47,569
869
560
Mes 9
47,257
869
557
Mes 10
46,941
869
553
Mes 11
46,622
869
549
Mes 12
46,299
869
545
Mes 1
45,972
869
542
Mes 2
45,641
869
538
Mes 3
45,306
869
534
Mes 4
44,968
869
530
Mes 5
44,625
869
526
Mes 6
44,279
869
522
Mes 7
43,928
869
518
Mes 8
43,573
869
514
Mes 9
43,215
869
510
Mes 10
42,852
869
506
Mes 11
42,484
869
501
Mes 12
42,113
869
497
Mes 1
41,737
869
493
Mes 2
41,356
869
488
Mes 3
40,972
869
484
Mes 4
40,582
869
479
Mes 5
40,188
869
475
Mes 6
39,790
869
470
Mes 7
39,387
869
466
Mes 8
38,979
869
461
Mes 9
38,566
869
456
Mes 10
38,149
869
451
Ao 22
Ao 23
Ao 24
Mes 11
37,727
869
446
Mes 12
37,299
869
441
Mes 1
36,867
869
436
Mes 2
36,430
869
431
Mes 3
35,987
869
426
Mes 4
35,540
869
421
Mes 5
35,087
869
416
Mes 6
34,629
869
411
Mes 7
34,165
869
405
Mes 8
33,696
869
400
Mes 9
33,222
869
394
Mes 10
32,742
869
389
Mes 11
32,256
869
383
Mes 12
31,765
869
377
Mes 1
31,268
869
372
Mes 2
30,765
869
366
Mes 3
30,256
869
360
Mes 4
29,742
869
354
Mes 5
29,221
869
348
Mes 6
28,694
869
342
Mes 7
28,161
869
336
Mes 8
27,622
869
329
Mes 9
27,077
869
323
Mes 10
26,525
869
317
Mes 11
25,967
869
310
Mes 12
25,402
869
304
Mes 1
24,830
869
297
Mes 2
24,252
869
291
Mes 3
23,667
869
284
Ao 24
Ao 25
Ao 26
Mes 4
23,075
869
277
Mes 5
22,477
869
270
Mes 6
21,871
869
263
Mes 7
21,258
869
256
Mes 8
20,638
869
249
Mes 9
20,011
869
241
Mes 10
19,377
869
234
Mes 11
18,735
869
227
Mes 12
18,085
869
219
Mes 1
17,428
869
212
Mes 2
16,763
869
204
Mes 3
16,091
869
196
Mes 4
15,410
869
188
Mes 5
14,722
869
180
Mes 6
14,026
869
172
Mes 7
13,321
869
164
Mes 8
12,608
869
156
Mes 9
11,887
869
148
Mes 10
11,158
869
139
Mes 11
10,419
869
131
Mes 12
9,673
869
122
Mes 1
8,917
869
113
Mes 2
8,153
869
104
Mes 3
7,380
869
95
Mes 4
6,597
869
86
Mes 5
5,806
869
77
Mes 6
5,005
869
68
Mes 7
4,195
869
59
Mes 8
3,375
869
49
Ao 26
Mes 9
2,546
869
39
Mes 10
1,707
869
30
Mes 11
859
869
20
Mes 12
869
10
Intereses pagados
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
Amortizacin
53
54
55
55
56
56
57
58
58
59
60
61
61
62
63
63
64
65
66
66
67
68
69
70
70
71
72
73
74
75
76
76
77
78
79
80
81
82
83
84
85
86
87
88
89
90
91
92
93
94
95
96
98
99
100
101
102
103
105
106
107
108
110
111
112
113
115
116
117
119
120
122
123
125
126
127
129
130
132
134
135
137
138
140
142
143
145
147
148
150
152
154
155
157
159
161
163
165
167
168
170
172
174
177
179
181
183
185
187
189
191
194
196
198
201
203
205
208
210
213
215
218
220
223
225
228
231
233
236
239
242
244
247
250
253
256
259
262
265
268
271
275
278
281
284
288
291
294
298
301
305
308
312
316
319
323
327
331
335
339
343
347
351
355
359
363
367
372
376
380
385
389
394
398
403
408
413
417
422
427
432
437
442
448
453
458
464
469
474
480
486
491
497
503
509
515
521
527
533
539
545
552
558
565
571
578
585
592
599
606
613
620
627
635
642
649
657
665
673
680
688
696
705
713
721
730
738
747
755
764
773
782
791
801
810
820
829
839
849
859
VAN de las familias
Alumnos Universitarios Quintil 1
AEU
Concepto
Saldo de la deuda
5,500
16,942
29,529
43,374
360
360
360
Pago de deuda
Ingreso con superior completa
Deduccin tributaria
Ingreso con superior deducido de
Ingreso con secundaria completa
8,410
8,862
9,328
Diferencial del ingreso
-8,410
-8,862
-9,328
Flujo de Caja
-8,770
-9,222
-9,688
VAN Familia
159,864
AEU
Concepto
Saldo de la deuda
5,500
16,566
28,739
42,129
720
720
720
Pago de deuda
Deduccin tributaria
8,410
8,862
9,328
-8,410
-8,862
-9,328
Flujo de Caja
-9,130
-9,582
-10,048
VAN Familia
160,382
AEU
Concepto
Saldo de la deuda
5,500
16,064
27,685
40,468
1,200
1,200
1,200
Pago de deuda
Deduccin tributaria
8,410
8,862
9,328
-8,410
-8,862
-9,328
Flujo de Caja
-9,610
-10,062
-10,528
VAN Familia
161,074
a el Per
PG
4
10
58,603
69,856
76,465
75,717
74,857
73,868
72,730
360
360
360
11,437
11,437
11,437
11,437
41,758
44,005
46,317
48,695
51,134
2,589
2,926
3,273
3,629
3,995
39,170
41,079
43,045
45,065
47,139
9,807
10,298
10,801
11,315
11,840
12,375
12,918
-9,807
-10,298
28,368
29,764
31,205
32,690
34,220
-10,167
-10,658
28,008
18,326
19,767
21,253
22,783
PG
4
10
56,857
67,559
73,563
72,843
72,015
71,064
69,969
720
720
720
11,003
11,003
11,003
11,003
41,758
44,005
46,317
48,695
51,134
2,589
2,926
3,273
3,629
3,995
39,170
41,079
43,045
45,065
47,139
9,807
10,298
10,801
11,315
11,840
12,375
12,918
-9,807
-10,298
28,368
29,764
31,205
32,690
34,220
-10,527
-11,018
27,648
18,761
20,202
21,688
23,217
PG
4
10
54,529
64,497
69,692
69,010
68,226
67,325
66,288
1,200
1,200
1,200
10,424
10,424
10,424
10,424
41,758
44,005
46,317
48,695
51,134
2,589
2,926
3,273
3,629
3,995
39,170
41,079
43,045
45,065
47,139
9,807
10,298
10,801
11,315
11,840
12,375
12,918
-9,807
-10,298
28,368
29,764
31,205
32,690
34,220
-11,007
-11,498
27,168
19,340
20,781
22,266
23,796
11
12
13
14
15
16
17
71,423
69,919
68,190
66,202
63,917
61,289
58,267
11,437
11,437
11,437
11,437
11,437
11,437
11,437
53,632
56,185
58,792
61,446
64,145
66,883
69,655
4,370
4,753
5,144
5,542
5,947
6,357
6,773
49,262
51,433
53,648
55,904
58,198
60,525
62,882
13,470
14,028
14,592
15,161
15,734
16,309
16,884
35,792
37,404
39,055
40,743
42,464
44,217
45,998
24,355
25,967
27,618
29,306
31,027
32,780
34,561
11
12
13
14
15
16
17
68,711
67,265
65,602
63,689
61,490
58,962
56,055
11,003
11,003
11,003
11,003
11,003
11,003
11,003
53,632
56,185
58,792
61,446
64,145
66,883
69,655
4,370
4,753
5,144
5,542
5,947
6,357
6,773
49,262
51,433
53,648
55,904
58,198
60,525
62,882
13,470
14,028
14,592
15,161
15,734
16,309
16,884
35,792
37,404
39,055
40,743
42,464
44,217
45,998
24,789
26,402
28,053
29,740
31,461
33,214
34,995
11
12
13
14
15
16
17
65,096
63,726
62,150
60,338
58,255
55,860
53,106
10,424
10,424
10,424
10,424
10,424
10,424
10,424
53,632
56,185
58,792
61,446
64,145
66,883
69,655
4,370
4,753
5,144
5,542
5,947
6,357
6,773
49,262
51,433
53,648
55,904
58,198
60,525
62,882
13,470
14,028
14,592
15,161
15,734
16,309
16,884
35,792
37,404
39,055
40,743
42,464
44,217
45,998
25,368
26,980
28,631
30,319
32,040
33,793
35,574
18
19
20
21
22
23
24
54,793
50,798
46,205
40,924
34,852
27,870
19,843
11,437
11,437
11,437
11,437
11,437
11,437
11,437
72,457
75,282
78,124
80,978
83,836
86,692
89,539
7,194
7,617
8,044
8,472
8,900
9,329
9,756
65,263
67,665
70,081
72,506
74,936
77,363
79,783
17,459
18,033
18,603
19,168
19,727
20,277
20,819
47,804
49,632
51,478
53,338
55,209
57,086
58,965
36,367
38,195
40,041
41,901
43,772
45,649
47,527
18
19
20
21
22
23
24
52,713
48,870
44,451
39,371
33,529
26,812
19,090
11,003
11,003
11,003
11,003
11,003
11,003
11,003
72,457
75,282
78,124
80,978
83,836
86,692
89,539
7,194
7,617
8,044
8,472
8,900
9,329
9,756
65,263
67,665
70,081
72,506
74,936
77,363
79,783
17,459
18,033
18,603
19,168
19,727
20,277
20,819
47,804
49,632
51,478
53,338
55,209
57,086
58,965
36,801
38,629
40,475
42,336
44,206
46,083
47,962
18
19
20
21
22
23
24
49,940
46,299
42,113
37,299
31,765
25,402
18,085
10,424
10,424
10,424
10,424
10,424
10,424
10,424
72,457
75,282
78,124
80,978
83,836
86,692
89,539
7,194
7,617
8,044
8,472
8,900
9,329
9,756
65,263
67,665
70,081
72,506
74,936
77,363
79,783
17,459
18,033
18,603
19,168
19,727
20,277
20,819
47,804
49,632
51,478
53,338
55,209
57,086
58,965
37,380
39,208
41,054
42,915
44,785
46,662
48,541
PR
25
26
27
28
29
30
31
10,613
11,437
11,437
92,369
95,175
97,949
100,684
103,372
106,004
108,574
10,180
33,878
33,296
32,721
32,157
31,604
31,065
82,189
61,297
64,654
67,963
71,215
74,400
77,509
21,349
21,866
22,369
22,857
23,327
23,778
24,208
60,840
39,431
42,284
45,106
47,888
50,623
53,301
49,403
27,994
42,284
45,106
47,888
50,623
53,301
PR
25
26
27
28
29
30
31
10,210
11,003
11,003
92,369
95,175
97,949
100,684
103,372
106,004
108,574
10,180
33,878
33,296
32,721
32,157
31,604
31,065
82,189
61,297
64,654
67,963
71,215
74,400
77,509
21,349
21,866
22,369
22,857
23,327
23,778
24,208
60,840
39,431
42,284
45,106
47,888
50,623
53,301
49,837
28,428
42,284
45,106
47,888
50,623
53,301
27
28
29
30
31
PR
25
26
9,673
10,424
10,424
92,369
95,175
97,949
100,684
103,372
106,004
108,574
10,180
33,878
33,296
32,721
32,157
31,604
31,065
82,189
61,297
64,654
67,963
71,215
74,400
77,509
21,349
21,866
22,369
22,857
23,327
23,778
24,208
60,840
39,431
42,284
45,106
47,888
50,623
53,301
50,416
29,007
42,284
45,106
47,888
50,623
53,301
32
33
34
35
36
37
38
111,072
113,492
115,825
118,065
120,203
122,232
124,146
30,540
30,032
29,542
29,071
28,622
28,196
27,794
80,532
83,460
86,284
88,993
91,580
94,036
96,352
24,617
25,002
25,363
25,698
26,006
26,286
26,537
55,915
58,458
60,920
63,295
65,574
67,749
69,815
55,915
58,458
60,920
63,295
65,574
67,749
69,815
32
33
34
35
36
37
38
111,072
113,492
115,825
118,065
120,203
122,232
124,146
30,540
30,032
29,542
29,071
28,622
28,196
27,794
80,532
83,460
86,284
88,993
91,580
94,036
96,352
24,617
25,002
25,363
25,698
26,006
26,286
26,537
55,915
58,458
60,920
63,295
65,574
67,749
69,815
55,915
58,458
60,920
63,295
65,574
67,749
69,815
32
33
34
35
36
37
38
111,072
113,492
115,825
118,065
120,203
122,232
124,146
30,540
30,032
29,542
29,071
28,622
28,196
27,794
80,532
83,460
86,284
88,993
91,580
94,036
96,352
24,617
25,002
25,363
25,698
26,006
26,286
26,537
55,915
58,458
60,920
63,295
65,574
67,749
69,815
55,915
58,458
60,920
63,295
65,574
67,749
69,815
39
40
41
42
43
44
45
125,938
127,602
129,132
130,522
131,767
132,863
133,806
27,418
27,069
26,747
26,455
26,194
25,964
25,766
98,520
100,533
102,384
104,066
105,573
106,899
108,040
26,758
26,948
27,106
27,232
27,326
27,386
27,414
71,762
73,585
75,278
76,834
78,247
79,513
80,627
71,762
73,585
75,278
76,834
78,247
79,513
80,627
39
40
41
42
43
44
45
125,938
127,602
129,132
130,522
131,767
132,863
133,806
27,418
27,069
26,747
26,455
26,194
25,964
25,766
98,520
100,533
102,384
104,066
105,573
106,899
108,040
26,758
26,948
27,106
27,232
27,326
27,386
27,414
71,762
73,585
75,278
76,834
78,247
79,513
80,627
71,762
73,585
75,278
76,834
78,247
79,513
80,627
39
40
41
42
43
44
45
125,938
127,602
129,132
130,522
131,767
132,863
133,806
27,418
27,069
26,747
26,455
26,194
25,964
25,766
98,520
100,533
102,384
104,066
105,573
106,899
108,040
26,758
26,948
27,106
27,232
27,326
27,386
27,414
71,762
73,585
75,278
76,834
78,247
79,513
80,627
71,762
73,585
75,278
76,834
78,247
79,513
80,627
46
47
48
134,592
135,219
135,683
25,601
25,469
25,372
108,992
109,750
110,312
27,407
27,368
27,295
81,584
82,382
83,017
81,584
82,382
83,017
46
47
48
134,592
135,219
135,683
25,601
25,469
25,372
108,992
109,750
110,312
27,407
27,368
27,295
81,584
82,382
83,017
81,584
82,382
83,017
46
47
48
134,592
135,219
135,683
25,601
25,469
25,372
108,992
109,750
110,312
27,407
27,368
27,295
81,584
82,382
83,017
81,584
82,382
83,017

VAN de la Institucin de Educacin Superior (IES)
Estudios Universitarios Quintil 1
AEU
Concepto
0
5,500
16,942
29,529
43,374
80.00%
70.83%
61.67%
52.50%
100.00%
96.00%
92.16%
88.47%
Pr (incumplimiento)
0.00%
4.00%
3.84%
3.69%
E(Saldo)
5,500
10,560
20,683
30,991
E(Fondo de garanta)
4,400
7,480
12,754
16,270
Cambio en la garanta
4,400
3,080
5,274
3,516
176
461
671
4,400
3,256
5,735
4,187
238
394
664
1,100
2,200
2,200
2,200
-3,300
-818
-3,141
-1,323
Saldo de la deuda
Porcentaje de garanta
Pr (cumplimiento)
E(Ejecucin)
E(Nueva garanta)
Inters dejados de ganar
Ganancia en pensiones
Flujo de Caja
VAN IES
S/. 134.18
AEU
Concepto
0
5,500
16,566
28,739
42,129
80.00%
70.83%
61.67%
52.50%
100.00%
96.00%
92.16%
88.47%
Pr (incumplimiento)
0.00%
4.00%
3.84%
3.69%
E(Saldo)
5,500
10,560
20,336
30,292
E(Fondo de garanta)
4,400
7,480
12,541
15,903
4,400
3,080
5,061
3,363
176
451
653
4,400
3,256
5,511
4,016
238
394
653
1,100
2,200
2,200
2,200
-3,300
-818
-2,917
-1,163
Saldo de la deuda
Pr (cumplimiento)
E(Ejecucin)
E(Nueva garanta)
Flujo de Caja
VAN IES
S/. 386.39
AEU
5,500
16,064
27,685
40,468
80.00%
70.83%
61.67%
52.50%
100.00%
96.00%
92.16%
88.47%
Pr (incumplimiento)
0.00%
4.00%
3.84%
3.69%
E(Saldo)
5,500
10,560
19,874
29,360
E(Fondo de garanta)
4,400
7,480
12,255
15,414
4,400
3,080
4,775
3,159
176
437
629
4,400
3,256
5,212
3,788
238
394
638
1,100
2,200
2,200
2,200
-3,300
-818
-2,618
-950
Saldo de la deuda
Pr (cumplimiento)
E(Ejecucin)
E(Nueva garanta)
Flujo de Caja
VAN IES
S/. 722.26
ra el Per
PG
4
10
58,603
69,856
76,465
75,717
74,857
73,868
72,730
43.33%
34.17%
25.00%
25.00%
25.00%
25.00%
25.00%
84.93%
81.54%
81.54%
76.34%
72.16%
68.87%
66.36%
3.54%
3.40%
0.00%
5.20%
4.17%
3.29%
2.51%
41,511
47,784
56,959
57,799
54,017
50,874
48,265
17,988
16,326
14,240
14,450
13,504
12,719
12,066
1,718
-1,662
-2,086
210
-945
-786
-652
806
863
994
790
615
464
2,524
-799
-2,086
1,204
-155
-170
-189
842
928
835
769
727
687
654
2,200
1,100
519
2,827
2,921
-436
882
857
842
PG
4
10
56,857
67,559
73,563
72,843
72,015
71,064
69,969
43.33%
34.17%
25.00%
25.00%
25.00%
25.00%
25.00%
84.93%
81.54%
81.54%
76.34%
72.16%
68.87%
66.36%
3.54%
3.40%
0.00%
5.20%
4.17%
3.29%
2.51%
40,453
46,360
55,086
55,605
51,967
48,943
46,433
17,530
15,840
13,771
13,901
12,992
12,236
11,608
1,626
-1,690
-2,068
130
-910
-756
-628
783
837
957
760
592
446
2,409
-853
-2,068
1,086
-149
-164
-182
824
904
810
744
699
660
629
2,200
1,100
614
2,857
2,878
-343
848
824
810
PG
10
54,529
64,497
69,692
69,010
68,226
67,325
66,288
43.33%
34.17%
25.00%
25.00%
25.00%
25.00%
25.00%
84.93%
81.54%
81.54%
76.34%
72.16%
68.87%
66.36%
3.54%
3.40%
0.00%
5.20%
4.17%
3.29%
2.51%
39,043
44,462
52,589
52,679
49,233
46,368
43,990
16,919
15,191
13,147
13,170
12,308
11,592
10,997
1,504
-1,727
-2,044
23
-862
-716
-595
752
803
906
720
561
423
2,256
-925
-2,044
929
-141
-155
-172
798
873
777
710
662
626
596
2,200
1,100
742
2,898
2,821
-219
804
781
768
PR
11
12
13
14
15
16
17
71,423
69,919
68,190
66,202
63,917
61,289
58,267
25.00%
25.00%
25.00%
25.00%
25.00%
25.00%
25.00%
64.55%
63.37%
62.79%
62.79%
62.79%
62.79%
62.79%
1.81%
1.18%
0.58%
0.00%
0.00%
0.00%
0.00%
46,101
44,308
42,818
41,570
40,135
38,485
36,588
11,525
11,077
10,705
10,393
10,034
9,621
9,147
-541
-448
-372
-312
-359
-413
-474
330
210
101
-211
-238
-271
-312
-359
-413
-474
627
605
587
573
561
542
520
838
843
858
885
920
954
994
PR
11
12
13
14
15
16
17
68,711
67,265
65,602
63,689
61,490
58,962
56,055
25.00%
25.00%
25.00%
25.00%
25.00%
25.00%
25.00%
64.55%
63.37%
62.79%
62.79%
62.79%
62.79%
62.79%
1.81%
1.18%
0.58%
0.00%
0.00%
0.00%
0.00%
44,351
42,626
41,193
39,992
38,612
37,024
35,199
11,088
10,656
10,298
9,998
9,653
9,256
8,800
-520
-431
-358
-300
-345
-397
-456
317
202
97
-203
-229
-261
-300
-345
-397
-456
603
582
565
551
540
521
500
806
811
826
851
885
918
956
PR
11
12
13
14
15
16
17
65,096
63,726
62,150
60,338
58,255
55,860
53,106
25.00%
25.00%
25.00%
25.00%
25.00%
25.00%
25.00%
64.55%
63.37%
62.79%
62.79%
62.79%
62.79%
62.79%
1.81%
1.18%
0.58%
0.00%
0.00%
0.00%
0.00%
42,018
40,383
39,026
37,888
36,580
35,076
33,347
10,504
10,096
9,756
9,472
9,145
8,769
8,337
-493
-409
-339
-284
-327
-376
-432
301
191
92
-192
-217
-247
-284
-327
-376
-432
571
551
535
522
511
494
474
763
768
782
806
839
870
906
18
19
20
21
22
23
24
54,793
50,798
46,205
40,924
34,852
27,870
19,843
25.00%
25.00%
25.00%
25.00%
25.00%
25.00%
25.00%
62.79%
62.79%
62.79%
62.79%
62.79%
62.79%
62.79%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
34,406
31,898
29,014
25,697
21,885
17,501
12,460
8,602
7,974
7,253
6,424
5,471
4,375
3,115
-545
-627
-721
-829
-953
-1,096
-1,260
-545
-627
-721
-829
-953
-1,096
-1,260
494
464
431
392
347
295
236
1,039
1,092
1,152
1,221
1,300
1,391
1,496
18
19
20
21
22
23
24
52,713
48,870
44,451
39,371
33,529
26,812
19,090
25.00%
25.00%
25.00%
25.00%
25.00%
25.00%
25.00%
62.79%
62.79%
62.79%
62.79%
62.79%
62.79%
62.79%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
33,100
30,687
27,912
24,722
21,054
16,836
11,987
8,275
7,672
6,978
6,180
5,263
4,209
2,997
-525
-603
-694
-798
-917
-1,054
-1,212
-525
-603
-694
-798
-917
-1,054
-1,212
475
447
414
377
334
284
227
1,000
1,050
1,108
1,174
1,251
1,339
1,440
18
19
20
21
22
23
24
49,940
46,299
42,113
37,299
31,765
25,402
18,085
25.00%
25.00%
25.00%
25.00%
25.00%
25.00%
25.00%
62.79%
62.79%
62.79%
62.79%
62.79%
62.79%
62.79%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
31,358
29,072
26,444
23,421
19,946
16,305
11,356
7,840
7,268
6,611
5,855
4,987
4,076
2,839
-497
-572
-657
-756
-869
-910
-1,237
-497
-572
-657
-756
-869
-910
-1,237
450
423
392
357
316
269
220
947
995
1,050
1,113
1,185
1,180
1,457
25
26
10,613
25.00%
25.00%
62.79%
62.79%
0.00%
0.00%
6,664
1,666
-1,449
-1,666
-1,449
-1,666
168
90
1,617
1,756
25
26
10,210
25.00%
25.00%
62.79%
62.79%
0.00%
0.00%
6,411
1,603
-1,394
-1,603
-1,394
-1,603
162
87
1,556
1,689
25
26
9,673
25.00%
25.00%
62.79%
62.79%
0.00%
0.00%
6,074
1,518
-1,321
-1,518
-1,321
-1,518
153
82
1,474
1,600

VAN del Estado
AEU
Concepto
5,500
16,942
29,529
43,374
20.00%
29.17%
38.33%
47.50%
100.00%
96.00%
92.16%
88.47%
Pr (incumplimiento)
0.00%
4.00%
3.84%
3.69%
E(Saldo)
5,500
10,560
20,683
30,991
E(Fondo de garanta)
1,100
3,080
7,928
14,721
E(Cambio en la garanta)
1,100
1,980
4,848
6,792
44
190
417
1,100
2,024
5,038
7,210
0.00
64.02
176.70
450.39
0
8,410
0
8,862
0
9,328
Saldo de la deuda
Pr (cumplimiento)
E(Ejecucin)
E(Nueva garanta)
Inters
Clculo de recaudacin tributaria

0
Ingreso con secundaria complet
0
Ingreso a tributar
336
695
1,075
Recaudacin esperada c/proyect
Recaudacin esperada s/proyect
Ganancia de tributacin
-1,100
-1,960
-4,861
-6,759
Flujo de Caja
VAN Estado
S/. 2,573.34
AEU
Concepto
5,500
16,566
28,739
42,129
20.00%
29.17%
38.33%
47.50%
100.00%
96.00%
92.16%
88.47%
Pr (incumplimiento)
0.00%
4.00%
3.84%
3.69%
E(Saldo)
5,500
10,560
20,336
30,292
E(Fondo de garanta)
1,100
3,080
7,795
14,389
1,100
1,980
4,715
6,593
44
186
406
1,100
2,024
4,901
6,999
0.00
64.02
176.70
442.90
0
8,410
0
8,862
0
9,328
Saldo de la deuda
Pr (cumplimiento)
E(Ejecucin)
E(Nueva garanta)
Inters

0
0
Ingreso a tributar
336
695
1,075
-1,100
-1,960
-4,724
-6,557
Flujo de Caja
VAN Estado
S/. 3,098.24
AEU
Concepto
5,500
16,064
27,685
40,468
20.00%
29.17%
38.33%
47.50%
100.00%
96.00%
92.16%
88.47%
Pr (incumplimiento)
0.00%
4.00%
3.84%
3.69%
E(Saldo)
5,500
10,560
19,874
29,360
E(Fondo de garanta)
1,100
3,080
7,618
13,946
1,100
1,980
4,538
6,328
44
180
391
1,100
2,024
4,718
6,719
0.00
64.02
176.70
432.91
0
8,410
0
8,862
0
9,328
Saldo de la deuda
Pr (cumplimiento)
E(Ejecucin)
E(Nueva garanta)
Inters

0
0
Ingreso a tributar
336
695
1,075
-1,100
-1,960
-4,541
-6,286
Flujo de Caja
VAN Estado
S/. 3,860.41
a el Per
PG
10
58,603
69,856
76,465
75,717
74,857
73,868
72,730
56.67%
65.83%
75.00%
75.00%
75.00%
75.00%
75.00%
84.93%
81.54%
81.54%
76.34%
72.16%
68.87%
66.36%
3.54%
3.40%
0.00%
5.20%
4.17%
3.29%
2.51%
41,511
47,784
56,959
57,799
54,017
50,874
48,265
23,523
31,458
42,719
43,349
40,513
38,156
36,199
8,802
7,935
11,261
630
-2,836
-2,357
-1,957
729
1,128
2,983
2,371
1,846
1,391
9,531
9,063
11,261
3,613
-466
-511
-566
832.46
1326.59
1765.17
2486.25
2349.29
2219.89
2113.21
0
9,807
0
10,298
41,758
10,801
44,005
11,315
46,317
11,840
48,695
12,375
51,134
12,918
1,477
1,901
36,043
36,269
36,719
37,389
38,279
1,731
1,765
1,833
1,933
2,067
1,731
1,765
1,833
1,933
2,067
-8,699
-7,736
-7,765
638
4,648
4,664
4,746
PG
10
56,857
67,559
73,563
72,843
72,015
71,064
69,969
56.67%
65.83%
75.00%
75.00%
75.00%
75.00%
75.00%
84.93%
81.54%
81.54%
76.34%
72.16%
68.87%
66.36%
3.54%
3.40%
0.00%
5.20%
4.17%
3.29%
2.51%
40,453
46,360
55,086
55,605
51,967
48,978
46,471
22,923
30,520
41,314
41,704
38,975
36,733
34,853
8,535
7,597
10,794
389
-2,729
-2,242
-1,880
708
1,095
2,870
2,281
1,776
1,338
9,243
8,691
10,794
3,259
-448
-466
-542
813.79
1292.93
1712.58
2404.50
2260.11
2135.62
2034.50
0
9,807
0
10,298
41,758
10,801
44,005
11,315
46,317
11,840
48,695
12,375
51,134
12,918
1,477
1,901
36,043
36,269
36,719
37,389
38,279
1,731
1,765
1,833
1,933
2,067
1,731
1,765
1,833
1,933
2,067
-8,429
-7,399
-7,350
911
4,541
4,535
4,643
PG
10
54,529
64,497
69,692
69,010
68,226
67,325
66,288
56.67%
65.83%
75.00%
75.00%
75.00%
75.00%
75.00%
84.93%
81.54%
81.54%
76.34%
72.16%
68.87%
66.36%
3.54%
3.40%
0.00%
5.20%
4.17%
3.29%
2.51%
39,043
44,462
52,589
52,679
49,233
46,368
43,990
22,124
29,271
39,442
39,509
36,924
34,776
32,992
8,178
7,146
10,171
68
-2,585
-2,148
-1,784
680
1,050
2,719
2,161
1,683
1,268
8,858
8,196
10,171
2,787
-424
-466
-516
788.89
1248.04
1642.45
2295.50
2141.20
2023.26
1926.03
0
9,807
0
10,298
41,758
10,801
44,005
11,315
46,317
11,840
48,695
12,375
51,134
12,918
1,477
1,901
36,043
36,269
36,719
37,389
38,279
1,731
1,765
1,833
1,933
2,067
1,731
1,765
1,833
1,933
2,067
-8,070
-6,948
-6,797
1,274
4,398
4,422
4,509
11
12
13
14
15
16
17
71,423
69,919
68,190
66,202
63,917
61,289
58,267
75.00%
75.00%
75.00%
75.00%
75.00%
75.00%
75.00%
64.55%
63.37%
62.79%
62.79%
62.79%
62.79%
62.79%
1.81%
1.18%
0.58%
0.00%
0.00%
0.00%
0.00%
46,101
44,308
42,818
41,570
40,135
38,485
36,588
34,576
33,231
32,114
31,178
30,101
28,864
27,441
-1,623
-1,345
-1,117
-936
-1,076
-1,238
-1,423
990
630
303
-633
-715
-814
-936
-1,076
-1,238
-1,423
2025.80
1954.71
1897.36
1851.40
1814.54
1751.90
1679.87
53,632
13,470
56,185
14,028
58,792
14,592
61,446
15,161
64,145
15,734
66,883
16,309
69,655
16,884
39,393
40,743
42,346
44,225
46,132
48,065
50,021
2,234
2,437
2,677
2,959
3,245
3,535
3,828
2,234
2,437
2,677
2,959
3,245
3,535
3,828
4,893
5,106
5,388
5,746
6,136
6,524
6,931
11
12
13
14
15
16
17
68,711
67,265
65,602
63,689
61,490
58,962
56,055
75.00%
75.00%
75.00%
75.00%
75.00%
75.00%
75.00%
64.55%
63.37%
62.79%
62.79%
62.79%
62.79%
62.79%
1.81%
1.18%
0.58%
0.00%
0.00%
0.00%
0.00%
44,394
42,674
41,248
40,055
38,684
37,108
35,295
33,295
32,006
30,936
30,042
29,013
27,831
26,471
-1,558
-1,290
-1,070
-894
-1,028
-1,182
-1,360
952
606
291
-606
-683
-778
-894
-1,028
-1,182
-1,360
1950.57
1882.37
1827.44
1783.52
1748.42
1688.56
1619.74
53,632
13,470
56,185
14,028
58,792
14,592
61,446
15,161
64,145
15,734
66,883
16,309
69,655
16,884
39,393
40,743
42,346
44,225
46,132
48,065
50,021
2,234
2,437
2,677
2,959
3,245
3,535
3,828
2,234
2,437
2,677
2,959
3,245
3,535
3,828
4,790
5,002
5,283
5,637
6,022
6,406
6,807
11
12
13
14
15
16
17
65,096
63,726
62,150
60,338
58,255
55,860
53,106
75.00%
75.00%
75.00%
75.00%
75.00%
75.00%
75.00%
64.55%
63.37%
62.79%
62.79%
62.79%
62.79%
62.79%
1.81%
1.18%
0.58%
0.00%
0.00%
0.00%
0.00%
42,018
40,383
39,026
37,888
36,580
35,076
33,347
31,513
30,287
29,269
28,416
27,435
26,307
25,010
-1,479
-1,226
-1,018
-853
-981
-1,128
-1,297
902
574
276
-577
-651
-742
-853
-981
-1,128
-1,297
1846.36
1781.57
1729.30
1687.41
1653.82
1596.72
1531.07
53,632
13,470
56,185
14,028
58,792
14,592
61,446
15,161
64,145
15,734
66,883
16,309
69,655
16,884
39,393
40,743
42,346
44,225
46,132
48,065
50,021
2,234
2,437
2,677
2,959
3,245
3,535
3,828
2,234
2,437
2,677
2,959
3,245
3,535
3,828
4,657
4,869
5,148
5,499
5,880
6,260
6,656
18
19
20
21
22
23
24
54,793
50,798
46,205
40,924
34,852
27,870
19,843
75.00%
75.00%
75.00%
75.00%
75.00%
75.00%
75.00%
62.79%
62.79%
62.79%
62.79%
62.79%
62.79%
62.79%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
34,406
31,898
29,014
25,697
21,885
17,501
12,460
25,805
23,923
21,760
19,273
16,413
13,125
9,345
-1,636
-1,881
-2,163
-2,487
-2,860
-3,288
-3,781
-1,636
-1,881
-2,163
-2,487
-2,860
-3,288
-3,781
1597.05
1501.82
1392.33
1266.44
1121.69
955.26
763.90
72,457
17,459
75,282
18,033
78,124
18,603
80,978
19,168
83,836
19,727
86,692
20,277
89,539
20,819
51,994
53,981
55,978
57,980
59,983
61,981
63,970
4,124
4,422
4,722
5,022
5,322
5,622
5,921
4,124
4,422
4,722
5,022
5,322
5,622
5,921
7,357
7,805
8,277
8,776
9,304
9,865
10,465
18
19
20
21
22
23
24
52,713
48,870
44,451
39,371
33,529
26,812
19,090
75.00%
75.00%
75.00%
75.00%
75.00%
75.00%
75.00%
62.79%
62.79%
62.79%
62.79%
62.79%
62.79%
62.79%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
33,210
30,814
28,058
24,890
21,247
17,058
12,242
24,908
23,110
21,044
18,667
15,935
12,794
9,181
-1,563
-1,797
-2,067
-2,376
-2,732
-3,142
-3,612
-1,563
-1,797
-2,067
-2,376
-2,732
-3,142
-3,612
1540.61
1449.63
1345.02
1224.74
1086.44
927.42
744.59
72,457
17,459
75,282
18,033
78,124
18,603
80,978
19,168
83,836
19,727
86,692
20,277
89,539
20,819
51,994
53,981
55,978
57,980
59,983
61,981
63,970
4,124
4,422
4,722
5,022
5,322
5,622
5,921
4,124
4,422
4,722
5,022
5,322
5,622
5,921
7,228
7,669
8,133
8,623
9,141
9,691
10,277
18
19
20
21
22
23
24
49,940
46,299
42,113
37,299
31,765
25,402
18,085
75.00%
75.00%
75.00%
75.00%
75.00%
75.00%
75.00%
62.79%
62.79%
62.79%
62.79%
62.79%
62.79%
62.79%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
31,358
29,072
26,444
23,421
19,946
15,950
11,356
23,519
21,804
19,833
17,566
14,960
11,963
8,517
-1,491
-1,715
-1,971
-2,267
-2,606
-2,997
-3,446
-1,491
-1,715
-1,971
-2,267
-2,606
-2,997
-3,446
1455.59
1368.80
1269.01
1154.27
1022.34
870.65
696.24
72,457
17,459
75,282
18,033
78,124
18,603
80,978
19,168
83,836
19,727
86,692
20,277
89,539
20,819
51,994
53,981
55,978
57,980
59,983
61,981
63,970
4,124
4,422
4,722
5,022
5,322
5,622
5,921
4,124
4,422
4,722
5,022
5,322
5,622
5,921
7,071
7,506
7,962
8,443
8,951
9,490
10,062
PR
25
26
27
28
29
30
31
10,613
75.00%
75.00%
62.79%
62.79%
0.00%
0.00%
6,664
4,998
-4,347
-4,998
-4,347
-4,998
543.87
290.88
0.00
0.00
0.00
0.00
0.00
92,369
21,349
95,175
21,866
97,949
22,369
100,684
22,857
103,372
23,327
106,004
23,778
108,574
24,208
65,944
67,899
69,828
71,727
73,589
75,410
77,184
6,217
6,510
6,799
7,084
7,363
7,637
7,903
6,217
6,510
6,799
7,084
7,363
7,637
7,903
11,107
11,799
6,799
7,084
7,363
7,637
7,903
PR
25
26
27
28
29
30
31
10,210
75.00%
75.00%
62.79%
62.79%
0.00%
0.00%
6,704
337
5,028
253
-4,153
-4,775
-4,153
-4,775
534.36
292.65
0.00
0.00
0.00
0.00
0.00
92,369
21,349
95,175
21,866
97,949
22,369
100,684
22,857
103,372
23,327
106,004
23,778
108,574
24,208
65,944
67,899
69,828
71,727
73,589
75,410
77,184
6,217
6,510
6,799
7,084
7,363
7,637
7,903
6,217
6,510
6,799
7,084
7,363
7,637
7,903
10,904
11,578
6,799
7,084
7,363
7,637
7,903
PR
25
26
27
28
29
30
31
9,673
75.00%
75.00%
62.79%
62.79%
0.00%
0.00%
6,074
4,555
-3,962
-4,555
-3,962
-4,555
495.70
265.12
0.00
0.00
0.00
0.00
0.00
92,369
21,349
95,175
21,866
97,949
22,369
100,684
22,857
103,372
23,327
106,004
23,778
108,574
24,208
65,944
67,899
69,828
71,727
73,589
75,410
77,184
6,217
6,510
6,799
7,084
7,363
7,637
7,903
6,217
6,510
6,799
7,084
7,363
7,637
7,903
10,674
11,330
6,799
7,084
7,363
7,637
7,903
32
33
34
35
36
37
38
0.00
0.00
0.00
0.00
0.00
0.00
0.00
111,072
24,617
113,492
25,002
115,825
25,363
118,065
25,698
120,203
26,006
122,232
26,286
124,146
26,537
78,905
80,567
82,167
83,698
85,155
86,533
87,829
8,161
8,410
8,650
8,880
9,098
9,305
9,499
8,161
8,410
8,650
8,880
9,098
9,305
9,499
8,161
8,410
8,650
8,880
9,098
9,305
9,499
32
33
34
35
36
37
38
0.00
0.00
0.00
0.00
0.00
0.00
0.00
111,072
24,617
113,492
25,002
115,825
25,363
118,065
25,698
120,203
26,006
122,232
26,286
124,146
26,537
78,905
80,567
82,167
83,698
85,155
86,533
87,829
8,161
8,410
8,650
8,880
9,098
9,305
9,499
8,161
8,410
8,650
8,880
9,098
9,305
9,499
8,161
8,410
8,650
8,880
9,098
9,305
9,499
32
33
34
35
36
37
38
0.00
0.00
0.00
0.00
0.00
0.00
0.00
111,072
24,617
113,492
25,002
115,825
25,363
118,065
25,698
120,203
26,006
122,232
26,286
124,146
26,537
78,905
80,567
82,167
83,698
85,155
86,533
87,829
8,161
8,410
8,650
8,880
9,098
9,305
9,499
8,161
8,410
8,650
8,880
9,098
9,305
9,499
8,161
8,410
8,650
8,880
9,098
9,305
9,499
39
40
41
42
43
44
45
0.00
0.00
0.00
0.00
0.00
0.00
0.00
125,938
26,758
127,602
26,948
129,132
27,106
130,522
27,232
131,767
27,326
132,863
27,386
133,806
27,414
89,036
90,151
91,171
92,090
92,907
93,618
94,220
9,680
9,848
10,001
10,139
10,261
10,368
10,458
9,680
9,848
10,001
10,139
10,261
10,368
10,458
9,680
9,848
10,001
10,139
10,261
10,368
10,458
39
40
41
42
43
44
45
0.00
0.00
0.00
0.00
0.00
0.00
0.00
125,938
26,758
127,602
26,948
129,132
27,106
130,522
27,232
131,767
27,326
132,863
27,386
133,806
27,414
89,036
90,151
91,171
92,090
92,907
93,618
94,220
9,680
9,848
10,001
10,139
10,261
10,368
10,458
9,680
9,848
10,001
10,139
10,261
10,368
10,458
9,680
9,848
10,001
10,139
10,261
10,368
10,458
39
40
41
42
43
44
45
0.00
0.00
0.00
0.00
0.00
0.00
0.00
125,938
26,758
127,602
26,948
129,132
27,106
130,522
27,232
131,767
27,326
132,863
27,386
133,806
27,414
89,036
90,151
91,171
92,090
92,907
93,618
94,220
9,680
9,848
10,001
10,139
10,261
10,368
10,458
9,680
9,848
10,001
10,139
10,261
10,368
10,458
9,680
9,848
10,001
10,139
10,261
10,368
10,458
46
47
48
0.00
0.00
0.00
134,592
27,407
135,219
27,368
135,683
27,295
94,712
95,090
95,355
33,976
33,896
33,840
33,976
33,896
33,840
33,976
33,896
33,840
46
47
48
0.00
0.00
0.00
134,592
27,407
135,219
27,368
135,683
27,295
94,712
95,090
95,355
33,976
33,896
33,840
33,976
33,896
33,840
33,976
33,896
33,840
46
47
48
0.00
0.00
0.00
134,592
27,407
135,219
27,368
135,683
27,295
94,712
95,090
95,355
33,976
33,896
33,840
33,976
33,896
33,840
33,976
33,896
33,840

Respuestas.-
Pregunta A y B
Estudios Universitarios Q1
Intereses anuales
como % del ingreso per
cpita del hogar
Cuota fija mensual
Cuota fija mensual
como % de ingresos
esperados al egresar
VAN Estado
VAN IES
VAN Familia
28.04%
953
31.95%
2,573
134
159,864
Pregunta C
VAN DEL ESTADO
COK
Q1
2,573.34
0%
372,550.27
5%
65,948.08
10%
7,225.92
15%
-7,626.40
20%
-11,799.58
25%
-12,677.97
30%
-12,402.82
35%
-11,720.58
40%
-10,921.53
45%
-10,124.06
50%
-9,375.54
55%
-8,692.44
60%
-8,077.45
65%
-7,527.28
70%
-7,036.29
75%
-6,598.22
80%
-6,206.91
85%
-5,856.70
90%
-5,542.54
95%
-5,259.96
100%
-5,005.09
COK
Q1
VAN DE LA IES
134.18
0%
18,185.87
5%
5,350.38
10%
134.18
15%
-2,246.10
20%
-3,440.70
25%
-4,082.81
30%
-4,441.90
35%
-4,644.27
40%
-4,754.53
45%
-4,808.21
50%
-4,826.10
55%
-4,820.98
60%
-4,800.95
65%
-4,771.36
70%
-4,735.75
75%
-4,696.57
80%
-4,655.47
85%
-4,613.59
90%
-4,571.72
95%
-4,530.42
100%
-4,490.03
COK
Q1
VAN DE LA FAMILIA
159,863.53
0%
###
5%
495,599.56
10%
159,863.53
15%
61,801.24
20%
24,458.12
25%
7,510.44
30%
-1,028.73
35%
-5,579.17
40%
-8,050.92
45%
-9,368.41
50%
-10,016.98
55%
-10,267.17
60%
-10,276.68
65%
-10,140.63
70%
-9,917.81
75%
-9,645.29
80%
-9,346.67
85%
-9,037.09
90%
-8,726.23
95%
-8,420.23
100%
-8,122.89
ara el Per
Intereses anuales
como % del ingreso per
cpita del hogar
Cuota fija mensual
Cuota fija mensual
como % de ingresos
Intereses anuales
como % del ingreso
per cpita del hogar
29.29%
917
Cuota fija mensual

Cuota fija mensual
como % de ingresos
30.74%
3,098
VAN Estado
VAN Estado
386
VAN IES
VAN IES
160,382
VAN Familia
COK
Q2
VAN Familia
COK
3,098.24
Q3
3,860.41
0%
371,557.26
0%
370,614.87
5%
66,116.81
5%
66,497.00
10%
7,725.65
10%
8,463.65
15%
-7,064.99
15%
-6,279.42
20%
-11,264.28
20%
-10,529.61
25%
-12,194.36
25%
-11,536.85
30%
-11,974.57
30%
-11,395.44
35%
-11,343.84
35%
-10,836.12
40%
-10,590.32
40%
-10,145.00
45%
-9,832.23
45%
-9,440.51
50%
-9,117.49
50%
-8,771.56
55%
-8,463.30
55%
-8,156.42
60%
-7,873.08
60%
-7,599.58
65%
-7,344.19
65%
-7,099.33
70%
-6,871.56
70%
-6,651.35
75%
-6,449.38
75%
-6,250.49
80%
-6,071.89
80%
-5,891.53
85%
-5,733.76
85%
-5,569.57
90%
-5,430.18
90%
-5,280.17
95%
-5,156.93
95%
-5,019.41
100%
-4,910.32
100%
-4,783.83
COK
Q2
COK
Q3
386.39
722.26
0%
17,950.90
0%
17,642.39
5%
5,489.92
5%
5,676.09
10%
386.39
10%
722.26
15%
-1,969.26
15%
-1,600.45
20%
-3,169.94
20%
-2,809.10
25%
-3,828.50
25%
-3,489.50
30%
-4,206.76
30%
-3,893.28
35%
-4,428.13
35%
-4,139.96
40%
-4,556.13
40%
-4,291.60
45%
-4,625.96
45%
-4,382.98
50%
-4,658.42
50%
-4,434.84
55%
-4,666.34
55%
-4,460.17
60%
-4,658.01
60%
-4,467.43
65%
-4,638.90
65%
-4,462.30
70%
-4,612.72
70%
-4,448.68
75%
-4,582.02
75%
-4,429.28
80%
-4,548.57
80%
-4,406.04
85%
-4,513.62
85%
-4,380.32
90%
-4,478.04
90%
-4,353.13
95%
-4,442.45
95%
-4,325.17
100%
-4,407.29
100%
-4,296.96
COK
Q2
COK
Q3
160,382.10
161,073.53
0%
###
0%
###
5%
497,809.83
5%
500,756.86
10%
160,382.10
10%
161,073.53
15%
61,613.71
15%
61,363.68
20%
23,968.98
20%
23,316.79
25%
6,897.93
25%
6,081.26
30%
-1,681.86
30%
-2,552.71
35%
-6,233.41
35%
-7,105.73
40%
-8,687.41
40%
-9,536.06
45%
-9,978.59
45%
-10,792.16
50%
-10,597.56
50%
-11,371.67
55%
-10,817.60
55%
-11,551.50
60%
-10,797.79
60%
-11,492.61
65%
-10,633.93
65%
-11,291.66
70%
-10,385.10
70%
-11,008.14
75%
-10,088.43
75%
-10,679.27
80%
-9,767.48
80%
-10,328.57
85%
-9,437.31
85%
-9,970.95
90%
-9,107.47
90%
-9,615.80
95%
-8,783.98
95%
-9,268.97
100%
-8,470.48
100%
-8,933.94
Universitarios Q3
29.80%
869
29.12%
3,860
722
161,074
prD
Q1
prD
2,573.34
Q2
prD
3,098.24
0%
11,204.73
0%
11,787.29
0%
5%
1,086.14
5%
1,597.29
5%
10%
-3,030.78
10%
-2,584.64
10%
15%
-6,103.10
15%
-5,715.85
15%
20%
-7,405.85
20%
-7,071.67
20%
25%
-7,654.80
25%
-7,368.22
25%
30%
-7,394.44
30%
-7,150.32
30%
35%
-6,857.77
35%
-6,651.30
35%
40%
-6,194.57
40%
-6,021.32
40%
45%
-5,496.05
45%
-5,351.90
45%
50%
-4,815.45
50%
-4,696.67
50%
55%
-4,181.98
55%
-4,085.16
55%
60%
-3,608.19
60%
-3,530.28
60%
65%
-3,099.01
65%
-3,037.28
65%
70%
-2,653.12
70%
-2,605.16
70%
75%
-2,266.87
75%
-2,230.60
75%
80%
-1,934.76
80%
-1,908.36
80%
85%
-1,650.53
85%
-1,632.46
85%
90%
-1,407.70
90%
-1,396.66
90%
95%
-1,199.96
95%
-1,194.89
95%
100%
-1,021.47
100%
-1,021.47
100%
prD
Q1
prD
Q2
prD
134.18
386.39
0%
1,154.85
0%
1,392.27
0%
5%
-78.65
5%
176.26
5%
10%
-917.29
10%
-654.14
10%
15%
-1,428.03
15%
-1,164.20
15%
20%
-1,670.45
20%
-1,412.02
20%
25%
-1,697.21
25%
-1,448.93
25%
30%
-1,554.46
30%
-1,319.91
30%
35%
-1,282.21
35%
-1,064.01
35%
40%
-914.80
40%
-714.70
40%
45%
-481.28
45%
-300.33
45%
50%
-5.84
50%
155.48
50%
55%
491.78
55%
633.47
55%
60%
995.85
60%
1,118.29
60%
65%
1,494.28
65%
1,598.11
65%
70%
1,978.17
70%
2,064.22
70%
75%
2,441.41
75%
2,510.63
75%
80%
2,880.26
80%
2,933.65
80%
85%
3,292.91
85%
3,331.51
85%
90%
3,679.11
90%
3,703.92
90%
95%
4,039.73
95%
4,051.70
95%
100%
4,376.35
100%
4,376.35
100%
Tasas Q1
159,863.53
5%
8%
11%
14%
17%
20%
0%
176,845
176,845
176,845
176,845
176,845
176,845
3%
172,315
172,315
172,315
172,315
172,315
172,315
6%
167,319
167,319
167,319
167,319
167,319
167,319
9%
161,817
161,817
161,817
161,817
161,817
161,817
12%
155,766
155,766
155,766
155,766
155,766
155,766
15%
149,120
149,120
149,120
149,120
149,120
149,120
18%
141,830
141,830
141,830
141,830
141,830
141,830
21%
133,845
133,845
133,845
133,845
133,845
133,845
24%
125,109
125,109
125,109
125,109
125,109
125,109
27%
115,565
115,565
115,565
115,565
115,565
115,565
30%
105,150
105,150
105,150
105,150
105,150
105,150
33%
93,800
93,800
93,800
93,800
93,800
93,800
36%
81,446
81,446
81,446
81,446
81,446
81,446
39%
68,015
68,015
68,015
68,015
68,015
68,015
42%
53,429
53,429
53,429
53,429
53,429
53,429
45%
37,609
37,609
37,609
37,609
37,609
37,609
48%
20,469
20,469
20,469
20,469
20,469
20,469
51%
1,919
1,919
1,919
1,919
1,919
1,919
54%
-18,134
-18,134
-18,134
-18,134
-18,134
-18,134
57%
-39,790
-39,790
-39,790
-39,790
-39,790
-39,790
60%
-63,152
-63,152
-63,152
-63,152
-63,152
-63,152
63%
-88,329
-88,329
-88,329
-88,329
-88,329
-88,329
66%
-115,435
-115,435
-115,435
-115,435
-115,435
-115,435
69%
-144,589
-144,589
-144,589
-144,589
-144,589
-144,589
72%
-175,916
-175,916
-175,916
-175,916
-175,916
-175,916
75%
-209,547
-209,547
-209,547
-209,547
-209,547
-209,547
78%
-245,617
-245,617
-245,617
-245,617
-245,617
-245,617
81%
-284,270
-284,270
-284,270
-284,270
-284,270
-284,270
84%
-325,653
-325,653
-325,653
-325,653
-325,653
-325,653
87%
-369,922
-369,922
-369,922
-369,922
-369,922
-369,922
90%
-417,238
-417,238
-417,238
-417,238
-417,238
-417,238
93%
-467,770
-467,770
-467,770
-467,770
-467,770
-467,770
96%
-521,692
-521,692
-521,692
-521,692
-521,692
-521,692
99%
-579,187
-579,187
-579,187
-579,187
-579,187
-579,187
102%
-640,445
-640,445
-640,445
-640,445
-640,445
-640,445
Q3
prNP
3,860.41
Q1
prNP
2,573.34
Q2
3,098.24
12,640.44
0%
17,075.03
0%
17,474.18
2,337.93
5%
5,659.41
5%
6,159.08
-1,944.67
10%
-2,376.60
10%
-1,790.26
-5,165.61
15%
-7,727.97
15%
-7,067.18
-6,601.07
20%
###
20%
###
-6,967.98
25%
###
25%
###
-6,811.98
30%
###
30%
###
-6,367.15
35%
###
35%
###
-5,784.37
40%
###
40%
###
-5,155.86
45%
###
45%
###
-4,535.91
50%
###
50%
###
-3,954.66
55%
###
55%
###
-3,425.62
60%
###
60%
###
-2,954.57
65%
###
65%
###
-2,541.04
70%
###
70%
###
-2,182.16
75%
###
75%
###
-1,873.14
80%
###
80%
###
-1,608.36
85%
###
85%
###
-1,381.95
90%
###
90%
###
-1,188.12
95%
###
95%
###
-1,021.47
100%
###
100%
###
Q3
prNP
Q1
prNP
Q2
722.26
134.18
386.39
1,708.31
0%
1,279.91
0%
1,488.62
515.75
5%
364.02
5%
607.50
-303.57
10%
-425.29
10%
-151.84
-812.66
15%
-1,102.96
15%
-803.78
-1,067.61
20%
-1,682.52
20%
-1,361.34
-1,118.00
25%
-2,176.22
25%
-1,836.30
-1,007.27
30%
-2,595.07
30%
-2,239.25
-773.13
35%
-2,948.98
35%
-2,579.73
-447.94
40%
-3,246.80
40%
-2,866.24
-59.10
45%
-3,496.43
45%
-3,106.39
370.56
50%
-3,704.87
50%
-3,306.92
822.40
55%
-3,878.31
55%
-3,473.78
1,281.55
60%
-4,022.21
60%
-3,612.22
1,736.55
65%
-4,141.32
65%
-3,726.80
2,178.95
70%
-4,239.79
70%
-3,821.53
2,602.92
75%
-4,321.18
75%
-3,899.84
3,004.85
80%
-4,388.58
80%
-3,964.68
3,382.99
85%
-4,444.60
85%
-4,018.57
3,737.01
90%
-4,491.44
90%
-4,063.63
4,067.66
95%
-4,530.94
95%
-4,101.63
4,376.35
100%
-4,564.62
100%
-4,134.04
23%
26%
29%
32%
35%
38%
41%
44%
176,845
176,845
176,845
176,845
176,845
176,845
176,845
176,845
172,315
172,315
172,315
172,315
172,315
172,315
172,315
172,315
167,319
167,319
167,319
167,319
167,319
167,319
167,319
167,319
161,817
161,817
161,817
161,817
161,817
161,817
161,817
161,817
155,766
155,766
155,766
155,766
155,766
155,766
155,766
155,766
149,120
149,120
149,120
149,120
149,120
149,120
149,120
149,120
141,830
141,830
141,830
141,830
141,830
141,830
141,830
141,830
133,845
133,845
133,845
133,845
133,845
133,845
133,845
133,845
125,109
125,109
125,109
125,109
125,109
125,109
125,109
125,109
115,565
115,565
115,565
115,565
115,565
115,565
115,565
115,565
105,150
105,150
105,150
105,150
105,150
105,150
105,150
105,150
93,800
93,800
93,800
93,800
93,800
93,800
93,800
93,800
81,446
81,446
81,446
81,446
81,446
81,446
81,446
81,446
68,015
68,015
68,015
68,015
68,015
68,015
68,015
68,015
53,429
53,429
53,429
53,429
53,429
53,429
53,429
53,429
37,609
37,609
37,609
37,609
37,609
37,609
37,609
37,609
20,469
20,469
20,469
20,469
20,469
20,469
20,469
20,469
1,919
1,919
1,919
1,919
1,919
1,919
1,919
1,919
-18,134
-18,134
-18,134
-18,134
-18,134
-18,134
-18,134
-18,134
-39,790
-39,790
-39,790
-39,790
-39,790
-39,790
-39,790
-39,790
-63,152
-63,152
-63,152
-63,152
-63,152
-63,152
-63,152
-63,152
-88,329
-88,329
-88,329
-88,329
-88,329
-88,329
-88,329
-88,329
-115,435
-115,435
-115,435
-115,435
-115,435
-115,435
-115,435
-115,435
-144,589
-144,589
-144,589
-144,589
-144,589
-144,589
-144,589
-144,589
-175,916
-175,916
-175,916
-175,916
-175,916
-175,916
-175,916
-175,916
-209,547
-209,547
-209,547
-209,547
-209,547
-209,547
-209,547
-209,547
-245,617
-245,617
-245,617
-245,617
-245,617
-245,617
-245,617
-245,617
-284,270
-284,270
-284,270
-284,270
-284,270
-284,270
-284,270
-284,270
-325,653
-325,653
-325,653
-325,653
-325,653
-325,653
-325,653
-325,653
-369,922
-369,922
-369,922
-369,922
-369,922
-369,922
-369,922
-369,922
-417,238
-417,238
-417,238
-417,238
-417,238
-417,238
-417,238
-417,238
-467,770
-467,770
-467,770
-467,770
-467,770
-467,770
-467,770
-467,770
-521,692
-521,692
-521,692
-521,692
-521,692
-521,692
-521,692
-521,692
-579,187
-579,187
-579,187
-579,187
-579,187
-579,187
-579,187
-579,187
-640,445
-640,445
-640,445
-640,445
-640,445
-640,445
-640,445
-640,445
prNP
Q3
3,860.41
0%
18,087.03
5%
6,891.25
10%
-954.96
15%
-6,143.05
20%
###
25%
###
30%
###
35%
###
40%
###
45%
###
50%
###
55%
###
60%
###
65%
###
70%
###
75%
###
80%
###
85%
###
90%
###
95%
###
100%
###
prNP
Q3
722.26
0%
1,766.38
5%
931.72
10%
212.41
15%
-405.17
20%
-933.34
25%
-1,383.25
30%
-1,764.97
35%
-2,087.49
40%
-2,358.91
45%
-2,586.40
50%
-2,776.36
55%
-2,934.44
60%
-3,065.58
65%
-3,174.13
70%
-3,263.87
75%
-3,338.05
80%
-3,399.48
85%
-3,450.53
90%
-3,493.22
95%
-3,529.22
100%
-3,559.92
47%
50%
53%
56%
59%
62%
65%
68%
176,845
176,845
176,845
176,845
176,845
176,845
176,845
176,845
172,315
172,315
172,315
172,315
172,315
172,315
172,315
172,315
167,319
167,319
167,319
167,319
167,319
167,319
167,319
167,319
161,817
161,817
161,817
161,817
161,817
161,817
161,817
161,817
155,766
155,766
155,766
155,766
155,766
155,766
155,766
155,766
149,120
149,120
149,120
149,120
149,120
149,120
149,120
149,120
141,830
141,830
141,830
141,830
141,830
141,830
141,830
141,830
133,845
133,845
133,845
133,845
133,845
133,845
133,845
133,845
125,109
125,109
125,109
125,109
125,109
125,109
125,109
125,109
115,565
115,565
115,565
115,565
115,565
115,565
115,565
115,565
105,150
105,150
105,150
105,150
105,150
105,150
105,150
105,150
93,800
93,800
93,800
93,800
93,800
93,800
93,800
93,800
81,446
81,446
81,446
81,446
81,446
81,446
81,446
81,446
68,015
68,015
68,015
68,015
68,015
68,015
68,015
68,015
53,429
53,429
53,429
53,429
53,429
53,429
53,429
53,429
37,609
37,609
37,609
37,609
37,609
37,609
37,609
37,609
20,469
20,469
20,469
20,469
20,469
20,469
20,469
20,469
1,919
1,919
1,919
1,919
1,919
1,919
1,919
1,919
-18,134
-18,134
-18,134
-18,134
-18,134
-18,134
-18,134
-18,134
-39,790
-39,790
-39,790
-39,790
-39,790
-39,790
-39,790
-39,790
-63,152
-63,152
-63,152
-63,152
-63,152
-63,152
-63,152
-63,152
-88,329
-88,329
-88,329
-88,329
-88,329
-88,329
-88,329
-88,329
-115,435
-115,435
-115,435
-115,435
-115,435
-115,435
-115,435
-115,435
-144,589
-144,589
-144,589
-144,589
-144,589
-144,589
-144,589
-144,589
-175,916
-175,916
-175,916
-175,916
-175,916
-175,916
-175,916
-175,916
-209,547
-209,547
-209,547
-209,547
-209,547
-209,547
-209,547
-209,547
-245,617
-245,617
-245,617
-245,617
-245,617
-245,617
-245,617
-245,617
-284,270
-284,270
-284,270
-284,270
-284,270
-284,270
-284,270
-284,270
-325,653
-325,653
-325,653
-325,653
-325,653
-325,653
-325,653
-325,653
-369,922
-369,922
-369,922
-369,922
-369,922
-369,922
-369,922
-369,922
-417,238
-417,238
-417,238
-417,238
-417,238
-417,238
-417,238
-417,238
-467,770
-467,770
-467,770
-467,770
-467,770
-467,770
-467,770
-467,770
-521,692
-521,692
-521,692
-521,692
-521,692
-521,692
-521,692
-521,692
-579,187
-579,187
-579,187
-579,187
-579,187
-579,187
-579,187
-579,187
-640,445
-640,445
-640,445
-640,445
-640,445
-640,445
-640,445
-640,445
71%
74%
77%
80%
83%
86%
89%
92%
176,845
176,845
176,845
176,845
176,845
176,845
176,845
176,845
172,315
172,315
172,315
172,315
172,315
172,315
172,315
172,315
167,319
167,319
167,319
167,319
167,319
167,319
167,319
167,319
161,817
161,817
161,817
161,817
161,817
161,817
161,817
161,817
155,766
155,766
155,766
155,766
155,766
155,766
155,766
155,766
149,120
149,120
149,120
149,120
149,120
149,120
149,120
149,120
141,830
141,830
141,830
141,830
141,830
141,830
141,830
141,830
133,845
133,845
133,845
133,845
133,845
133,845
133,845
133,845
125,109
125,109
125,109
125,109
125,109
125,109
125,109
125,109
115,565
115,565
115,565
115,565
115,565
115,565
115,565
115,565
105,150
105,150
105,150
105,150
105,150
105,150
105,150
105,150
93,800
93,800
93,800
93,800
93,800
93,800
93,800
93,800
81,446
81,446
81,446
81,446
81,446
81,446
81,446
81,446
68,015
68,015
68,015
68,015
68,015
68,015
68,015
68,015
53,429
53,429
53,429
53,429
53,429
53,429
53,429
53,429
37,609
37,609
37,609
37,609
37,609
37,609
37,609
37,609
20,469
20,469
20,469
20,469
20,469
20,469
20,469
20,469
1,919
1,919
1,919
1,919
1,919
1,919
1,919
1,919
-18,134
-18,134
-18,134
-18,134
-18,134
-18,134
-18,134
-18,134
-39,790
-39,790
-39,790
-39,790
-39,790
-39,790
-39,790
-39,790
-63,152
-63,152
-63,152
-63,152
-63,152
-63,152
-63,152
-63,152
-88,329
-88,329
-88,329
-88,329
-88,329
-88,329
-88,329
-88,329
-115,435
-115,435
-115,435
-115,435
-115,435
-115,435
-115,435
-115,435
-144,589
-144,589
-144,589
-144,589
-144,589
-144,589
-144,589
-144,589
-175,916
-175,916
-175,916
-175,916
-175,916
-175,916
-175,916
-175,916
-209,547
-209,547
-209,547
-209,547
-209,547
-209,547
-209,547
-209,547
-245,617
-245,617
-245,617
-245,617
-245,617
-245,617
-245,617
-245,617
-284,270
-284,270
-284,270
-284,270
-284,270
-284,270
-284,270
-284,270
-325,653
-325,653
-325,653
-325,653
-325,653
-325,653
-325,653
-325,653
-369,922
-369,922
-369,922
-369,922
-369,922
-369,922
-369,922
-369,922
-417,238
-417,238
-417,238
-417,238
-417,238
-417,238
-417,238
-417,238
-467,770
-467,770
-467,770
-467,770
-467,770
-467,770
-467,770
-467,770
-521,692
-521,692
-521,692
-521,692
-521,692
-521,692
-521,692
-521,692
-579,187
-579,187
-579,187
-579,187
-579,187
-579,187
-579,187
-579,187
-640,445
-640,445
-640,445
-640,445
-640,445
-640,445
-640,445
-640,445
Tasas Q2
95%
98%
101%
104%
107%
###
5%
176,845
176,845
176,845
176,845
176,845
0%
176,830
172,315
172,315
172,315
172,315
172,315
3%
172,444
167,319
167,319
167,319
167,319
167,319
6%
167,606
161,817
161,817
161,817
161,817
161,817
9%
162,275
155,766
155,766
155,766
155,766
155,766
12%
156,411
149,120
149,120
149,120
149,120
149,120
15%
149,969
141,830
141,830
141,830
141,830
141,830
18%
142,901
133,845
133,845
133,845
133,845
133,845
21%
135,157
125,109
125,109
125,109
125,109
125,109
24%
126,683
115,565
115,565
115,565
115,565
115,565
27%
117,423
105,150
105,150
105,150
105,150
105,150
30%
107,316
93,800
93,800
93,800
93,800
93,800
33%
96,299
81,446
81,446
81,446
81,446
81,446
36%
84,304
68,015
68,015
68,015
68,015
68,015
39%
71,262
53,429
53,429
53,429
53,429
53,429
42%
57,096
37,609
37,609
37,609
37,609
37,609
45%
41,728
20,469
20,469
20,469
20,469
20,469
48%
25,075
1,919
1,919
1,919
1,919
1,919
51%
7,050
-18,134
-18,134
-18,134
-18,134
-18,134
54%
-12,440
-39,790
-39,790
-39,790
-39,790
-39,790
57%
-33,490
-63,152
-63,152
-63,152
-63,152
-63,152
60%
-56,203
-88,329
-88,329
-88,329
-88,329
-88,329
63%
-80,683
-115,435
-115,435
-115,435
-115,435
-115,435
66%
-107,044
-144,589
-144,589
-144,589
-144,589
-144,589
69%
-135,400
-175,916
-175,916
-175,916
-175,916
-175,916
72%
-165,873
-209,547
-209,547
-209,547
-209,547
-209,547
75%
-198,592
-245,617
-245,617
-245,617
-245,617
-245,617
78%
-233,689
-284,270
-284,270
-284,270
-284,270
-284,270
81%
-271,304
-325,653
-325,653
-325,653
-325,653
-325,653
84%
-311,581
-369,922
-369,922
-369,922
-369,922
-369,922
87%
-354,672
-417,238
-417,238
-417,238
-417,238
-417,238
90%
-400,735
-467,770
-467,770
-467,770
-467,770
-467,770
93%
-449,933
-521,692
-521,692
-521,692
-521,692
-521,692
96%
-502,439
-579,187
-579,187
-579,187
-579,187
-579,187
99%
-558,430
-640,445
-640,445
-640,445
-640,445
-640,445
102%
-618,092
8%
11%
14%
17%
20%
23%
26%
29%
176,830
176,830
176,830
176,830
176,830
176,830
176,830
176,830
172,444
172,444
172,444
172,444
172,444
172,444
172,444
172,444
167,606
167,606
167,606
167,606
167,606
167,606
167,606
167,606
162,275
162,275
162,275
162,275
162,275
162,275
162,275
162,275
156,411
156,411
156,411
156,411
156,411
156,411
156,411
156,411
149,969
149,969
149,969
149,969
149,969
149,969
149,969
149,969
142,901
142,901
142,901
142,901
142,901
142,901
142,901
142,901
135,157
135,157
135,157
135,157
135,157
135,157
135,157
135,157
126,683
126,683
126,683
126,683
126,683
126,683
126,683
126,683
117,423
117,423
117,423
117,423
117,423
117,423
117,423
117,423
107,316
107,316
107,316
107,316
107,316
107,316
107,316
107,316
96,299
96,299
96,299
96,299
96,299
96,299
96,299
96,299
84,304
84,304
84,304
84,304
84,304
84,304
84,304
84,304
71,262
71,262
71,262
71,262
71,262
71,262
71,262
71,262
57,096
57,096
57,096
57,096
57,096
57,096
57,096
57,096
41,728
41,728
41,728
41,728
41,728
41,728
41,728
41,728
25,075
25,075
25,075
25,075
25,075
25,075
25,075
25,075
7,050
7,050
7,050
7,050
7,050
7,050
7,050
7,050
-12,440
-12,440
-12,440
-12,440
-12,440
-12,440
-12,440
-12,440
-33,490
-33,490
-33,490
-33,490
-33,490
-33,490
-33,490
-33,490
-56,203
-56,203
-56,203
-56,203
-56,203
-56,203
-56,203
-56,203
-80,683
-80,683
-80,683
-80,683
-80,683
-80,683
-80,683
-80,683
-107,044
-107,044
-107,044
-107,044
-107,044
-107,044
-107,044
-107,044
-135,400
-135,400
-135,400
-135,400
-135,400
-135,400
-135,400
-135,400
-165,873
-165,873
-165,873
-165,873
-165,873
-165,873
-165,873
-165,873
-198,592
-198,592
-198,592
-198,592
-198,592
-198,592
-198,592
-198,592
-233,689
-233,689
-233,689
-233,689
-233,689
-233,689
-233,689
-233,689
-271,304
-271,304
-271,304
-271,304
-271,304
-271,304
-271,304
-271,304
-311,581
-311,581
-311,581
-311,581
-311,581
-311,581
-311,581
-311,581
-354,672
-354,672
-354,672
-354,672
-354,672
-354,672
-354,672
-354,672
-400,735
-400,735
-400,735
-400,735
-400,735
-400,735
-400,735
-400,735
-449,933
-449,933
-449,933
-449,933
-449,933
-449,933
-449,933
-449,933
-502,439
-502,439
-502,439
-502,439
-502,439
-502,439
-502,439
-502,439
-558,430
-558,430
-558,430
-558,430
-558,430
-558,430
-558,430
-558,430
-618,092
-618,092
-618,092
-618,092
-618,092
-618,092
-618,092
-618,092
32%
35%
38%
41%
44%
47%
50%
53%
176,830
176,830
176,830
176,830
176,830
176,830
176,830
176,830
172,444
172,444
172,444
172,444
172,444
172,444
172,444
172,444
167,606
167,606
167,606
167,606
167,606
167,606
167,606
167,606
162,275
162,275
162,275
162,275
162,275
162,275
162,275
162,275
156,411
156,411
156,411
156,411
156,411
156,411
156,411
156,411
149,969
149,969
149,969
149,969
149,969
149,969
149,969
149,969
142,901
142,901
142,901
142,901
142,901
142,901
142,901
142,901
135,157
135,157
135,157
135,157
135,157
135,157
135,157
135,157
126,683
126,683
126,683
126,683
126,683
126,683
126,683
126,683
117,423
117,423
117,423
117,423
117,423
117,423
117,423
117,423
107,316
107,316
107,316
107,316
107,316
107,316
107,316
107,316
96,299
96,299
96,299
96,299
96,299
96,299
96,299
96,299
84,304
84,304
84,304
84,304
84,304
84,304
84,304
84,304
71,262
71,262
71,262
71,262
71,262
71,262
71,262
71,262
57,096
57,096
57,096
57,096
57,096
57,096
57,096
57,096
41,728
41,728
41,728
41,728
41,728
41,728
41,728
41,728
25,075
25,075
25,075
25,075
25,075
25,075
25,075
25,075
7,050
7,050
7,050
7,050
7,050
7,050
7,050
7,050
-12,440
-12,440
-12,440
-12,440
-12,440
-12,440
-12,440
-12,440
-33,490
-33,490
-33,490
-33,490
-33,490
-33,490
-33,490
-33,490
-56,203
-56,203
-56,203
-56,203
-56,203
-56,203
-56,203
-56,203
-80,683
-80,683
-80,683
-80,683
-80,683
-80,683
-80,683
-80,683
-107,044
-107,044
-107,044
-107,044
-107,044
-107,044
-107,044
-107,044
-135,400
-135,400
-135,400
-135,400
-135,400
-135,400
-135,400
-135,400
-165,873
-165,873
-165,873
-165,873
-165,873
-165,873
-165,873
-165,873
-198,592
-198,592
-198,592
-198,592
-198,592
-198,592
-198,592
-198,592
-233,689
-233,689
-233,689
-233,689
-233,689
-233,689
-233,689
-233,689
-271,304
-271,304
-271,304
-271,304
-271,304
-271,304
-271,304
-271,304
-311,581
-311,581
-311,581
-311,581
-311,581
-311,581
-311,581
-311,581
-354,672
-354,672
-354,672
-354,672
-354,672
-354,672
-354,672
-354,672
-400,735
-400,735
-400,735
-400,735
-400,735
-400,735
-400,735
-400,735
-449,933
-449,933
-449,933
-449,933
-449,933
-449,933
-449,933
-449,933
-502,439
-502,439
-502,439
-502,439
-502,439
-502,439
-502,439
-502,439
-558,430
-558,430
-558,430
-558,430
-558,430
-558,430
-558,430
-558,430
-618,092
-618,092
-618,092
-618,092
-618,092
-618,092
-618,092
-618,092
56%
59%
62%
65%
68%
71%
74%
77%
176,830
176,830
176,830
176,830
176,830
176,830
176,830
176,830
172,444
172,444
172,444
172,444
172,444
172,444
172,444
172,444
167,606
167,606
167,606
167,606
167,606
167,606
167,606
167,606
162,275
162,275
162,275
162,275
162,275
162,275
162,275
162,275
156,411
156,411
156,411
156,411
156,411
156,411
156,411
156,411
149,969
149,969
149,969
149,969
149,969
149,969
149,969
149,969
142,901
142,901
142,901
142,901
142,901
142,901
142,901
142,901
135,157
135,157
135,157
135,157
135,157
135,157
135,157
135,157
126,683
126,683
126,683
126,683
126,683
126,683
126,683
126,683
117,423
117,423
117,423
117,423
117,423
117,423
117,423
117,423
107,316
107,316
107,316
107,316
107,316
107,316
107,316
107,316
96,299
96,299
96,299
96,299
96,299
96,299
96,299
96,299
84,304
84,304
84,304
84,304
84,304
84,304
84,304
84,304
71,262
71,262
71,262
71,262
71,262
71,262
71,262
71,262
57,096
57,096
57,096
57,096
57,096
57,096
57,096
57,096
41,728
41,728
41,728
41,728
41,728
41,728
41,728
41,728
25,075
25,075
25,075
25,075
25,075
25,075
25,075
25,075
7,050
7,050
7,050
7,050
7,050
7,050
7,050
7,050
-12,440
-12,440
-12,440
-12,440
-12,440
-12,440
-12,440
-12,440
-33,490
-33,490
-33,490
-33,490
-33,490
-33,490
-33,490
-33,490
-56,203
-56,203
-56,203
-56,203
-56,203
-56,203
-56,203
-56,203
-80,683
-80,683
-80,683
-80,683
-80,683
-80,683
-80,683
-80,683
-107,044
-107,044
-107,044
-107,044
-107,044
-107,044
-107,044
-107,044
-135,400
-135,400
-135,400
-135,400
-135,400
-135,400
-135,400
-135,400
-165,873
-165,873
-165,873
-165,873
-165,873
-165,873
-165,873
-165,873
-198,592
-198,592
-198,592
-198,592
-198,592
-198,592
-198,592
-198,592
-233,689
-233,689
-233,689
-233,689
-233,689
-233,689
-233,689
-233,689
-271,304
-271,304
-271,304
-271,304
-271,304
-271,304
-271,304
-271,304
-311,581
-311,581
-311,581
-311,581
-311,581
-311,581
-311,581
-311,581
-354,672
-354,672
-354,672
-354,672
-354,672
-354,672
-354,672
-354,672
-400,735
-400,735
-400,735
-400,735
-400,735
-400,735
-400,735
-400,735
-449,933
-449,933
-449,933
-449,933
-449,933
-449,933
-449,933
-449,933
-502,439
-502,439
-502,439
-502,439
-502,439
-502,439
-502,439
-502,439
-558,430
-558,430
-558,430
-558,430
-558,430
-558,430
-558,430
-558,430
-618,092
-618,092
-618,092
-618,092
-618,092
-618,092
-618,092
-618,092
80%
83%
86%
89%
92%
95%
98%
101%
176,830
176,830
176,830
176,830
176,830
176,830
176,830
176,830
172,444
172,444
172,444
172,444
172,444
172,444
172,444
172,444
167,606
167,606
167,606
167,606
167,606
167,606
167,606
167,606
162,275
162,275
162,275
162,275
162,275
162,275
162,275
162,275
156,411
156,411
156,411
156,411
156,411
156,411
156,411
156,411
149,969
149,969
149,969
149,969
149,969
149,969
149,969
149,969
142,901
142,901
142,901
142,901
142,901
142,901
142,901
142,901
135,157
135,157
135,157
135,157
135,157
135,157
135,157
135,157
126,683
126,683
126,683
126,683
126,683
126,683
126,683
126,683
117,423
117,423
117,423
117,423
117,423
117,423
117,423
117,423
107,316
107,316
107,316
107,316
107,316
107,316
107,316
107,316
96,299
96,299
96,299
96,299
96,299
96,299
96,299
96,299
84,304
84,304
84,304
84,304
84,304
84,304
84,304
84,304
71,262
71,262
71,262
71,262
71,262
71,262
71,262
71,262
57,096
57,096
57,096
57,096
57,096
57,096
57,096
57,096
41,728
41,728
41,728
41,728
41,728
41,728
41,728
41,728
25,075
25,075
25,075
25,075
25,075
25,075
25,075
25,075
7,050
7,050
7,050
7,050
7,050
7,050
7,050
7,050
-12,440
-12,440
-12,440
-12,440
-12,440
-12,440
-12,440
-12,440
-33,490
-33,490
-33,490
-33,490
-33,490
-33,490
-33,490
-33,490
-56,203
-56,203
-56,203
-56,203
-56,203
-56,203
-56,203
-56,203
-80,683
-80,683
-80,683
-80,683
-80,683
-80,683
-80,683
-80,683
-107,044
-107,044
-107,044
-107,044
-107,044
-107,044
-107,044
-107,044
-135,400
-135,400
-135,400
-135,400
-135,400
-135,400
-135,400
-135,400
-165,873
-165,873
-165,873
-165,873
-165,873
-165,873
-165,873
-165,873
-198,592
-198,592
-198,592
-198,592
-198,592
-198,592
-198,592
-198,592
-233,689
-233,689
-233,689
-233,689
-233,689
-233,689
-233,689
-233,689
-271,304
-271,304
-271,304
-271,304
-271,304
-271,304
-271,304
-271,304
-311,581
-311,581
-311,581
-311,581
-311,581
-311,581
-311,581
-311,581
-354,672
-354,672
-354,672
-354,672
-354,672
-354,672
-354,672
-354,672
-400,735
-400,735
-400,735
-400,735
-400,735
-400,735
-400,735
-400,735
-449,933
-449,933
-449,933
-449,933
-449,933
-449,933
-449,933
-449,933
-502,439
-502,439
-502,439
-502,439
-502,439
-502,439
-502,439
-502,439
-558,430
-558,430
-558,430
-558,430
-558,430
-558,430
-558,430
-558,430
-618,092
-618,092
-618,092
-618,092
-618,092
-618,092
-618,092
-618,092
Tasas Q3
104%
107%
###
5%
8%
11%
176,830
176,830
0%
176,810
176,810
176,810
172,444
172,444
3%
172,616
172,616
172,616
167,606
167,606
6%
167,987
167,987
167,987
162,275
162,275
9%
162,886
162,886
162,886
156,411
156,411
12%
157,272
157,272
157,272
149,969
149,969
15%
151,101
151,101
151,101
142,901
142,901
18%
144,329
144,329
144,329
135,157
135,157
21%
136,906
136,906
136,906
126,683
126,683
24%
128,781
128,781
128,781
117,423
117,423
27%
119,899
119,899
119,899
107,316
107,316
30%
110,203
110,203
110,203
96,299
96,299
33%
99,630
99,630
99,630
84,304
84,304
36%
88,115
88,115
88,115
71,262
71,262
39%
75,591
75,591
75,591
57,096
57,096
42%
61,985
61,985
61,985
41,728
41,728
45%
47,221
47,221
47,221
25,075
25,075
48%
31,218
31,218
31,218
7,050
7,050
51%
13,891
13,891
13,891
-12,440
-12,440
54%
-4,847
-4,847
-4,847
-33,490
-33,490
57%
-25,090
-25,090
-25,090
-56,203
-56,203
60%
-46,937
-46,937
-46,937
-80,683
-80,683
63%
-70,489
-70,489
-70,489
-107,044
-107,044
66%
-95,855
-95,855
-95,855
-135,400
-135,400
69%
-123,147
-123,147
-123,147
-165,873
-165,873
72%
-152,483
-152,483
-152,483
-198,592
-198,592
75%
-183,986
-183,986
-183,986
-233,689
-233,689
78%
-217,786
-217,786
-217,786
-271,304
-271,304
81%
-254,016
-254,016
-254,016
-311,581
-311,581
84%
-292,819
-292,819
-292,819
-354,672
-354,672
87%
-334,339
-334,339
-334,339
-400,735
-400,735
90%
-378,730
-378,730
-378,730
-449,933
-449,933
93%
-426,151
-426,151
-426,151
-502,439
-502,439
96%
-476,769
-476,769
-476,769
-558,430
-558,430
99%
-530,754
-530,754
-530,754
-618,092
-618,092
102%
-588,288
-588,288
-588,288
14%
17%
20%
23%
26%
29%
32%
35%
176,810
176,810
176,810
176,810
176,810
176,810
176,810
176,810
172,616
172,616
172,616
172,616
172,616
172,616
172,616
172,616
167,987
167,987
167,987
167,987
167,987
167,987
167,987
167,987
162,886
162,886
162,886
162,886
162,886
162,886
162,886
162,886
157,272
157,272
157,272
157,272
157,272
157,272
157,272
157,272
151,101
151,101
151,101
151,101
151,101
151,101
151,101
151,101
144,329
144,329
144,329
144,329
144,329
144,329
144,329
144,329
136,906
136,906
136,906
136,906
136,906
136,906
136,906
136,906
128,781
128,781
128,781
128,781
128,781
128,781
128,781
128,781
119,899
119,899
119,899
119,899
119,899
119,899
119,899
119,899
110,203
110,203
110,203
110,203
110,203
110,203
110,203
110,203
99,630
99,630
99,630
99,630
99,630
99,630
99,630
99,630
88,115
88,115
88,115
88,115
88,115
88,115
88,115
88,115
75,591
75,591
75,591
75,591
75,591
75,591
75,591
75,591
61,985
61,985
61,985
61,985
61,985
61,985
61,985
61,985
47,221
47,221
47,221
47,221
47,221
47,221
47,221
47,221
31,218
31,218
31,218
31,218
31,218
31,218
31,218
31,218
13,891
13,891
13,891
13,891
13,891
13,891
13,891
13,891
-4,847
-4,847
-4,847
-4,847
-4,847
-4,847
-4,847
-4,847
-25,090
-25,090
-25,090
-25,090
-25,090
-25,090
-25,090
-25,090
-46,937
-46,937
-46,937
-46,937
-46,937
-46,937
-46,937
-46,937
-70,489
-70,489
-70,489
-70,489
-70,489
-70,489
-70,489
-70,489
-95,855
-95,855
-95,855
-95,855
-95,855
-95,855
-95,855
-95,855
-123,147
-123,147
-123,147
-123,147
-123,147
-123,147
-123,147
-123,147
-152,483
-152,483
-152,483
-152,483
-152,483
-152,483
-152,483
-152,483
-183,986
-183,986
-183,986
-183,986
-183,986
-183,986
-183,986
-183,986
-217,786
-217,786
-217,786
-217,786
-217,786
-217,786
-217,786
-217,786
-254,016
-254,016
-254,016
-254,016
-254,016
-254,016
-254,016
-254,016
-292,819
-292,819
-292,819
-292,819
-292,819
-292,819
-292,819
-292,819
-334,339
-334,339
-334,339
-334,339
-334,339
-334,339
-334,339
-334,339
-378,730
-378,730
-378,730
-378,730
-378,730
-378,730
-378,730
-378,730
-426,151
-426,151
-426,151
-426,151
-426,151
-426,151
-426,151
-426,151
-476,769
-476,769
-476,769
-476,769
-476,769
-476,769
-476,769
-476,769
-530,754
-530,754
-530,754
-530,754
-530,754
-530,754
-530,754
-530,754
-588,288
-588,288
-588,288
-588,288
-588,288
-588,288
-588,288
-588,288
38%
41%
44%
47%
50%
53%
56%
59%
176,810
176,810
176,810
176,810
176,810
176,810
176,810
176,810
172,616
172,616
172,616
172,616
172,616
172,616
172,616
172,616
167,987
167,987
167,987
167,987
167,987
167,987
167,987
167,987
162,886
162,886
162,886
162,886
162,886
162,886
162,886
162,886
157,272
157,272
157,272
157,272
157,272
157,272
157,272
157,272
151,101
151,101
151,101
151,101
151,101
151,101
151,101
151,101
144,329
144,329
144,329
144,329
144,329
144,329
144,329
144,329
136,906
136,906
136,906
136,906
136,906
136,906
136,906
136,906
128,781
128,781
128,781
128,781
128,781
128,781
128,781
128,781
119,899
119,899
119,899
119,899
119,899
119,899
119,899
119,899
110,203
110,203
110,203
110,203
110,203
110,203
110,203
110,203
99,630
99,630
99,630
99,630
99,630
99,630
99,630
99,630
88,115
88,115
88,115
88,115
88,115
88,115
88,115
88,115
75,591
75,591
75,591
75,591
75,591
75,591
75,591
75,591
61,985
61,985
61,985
61,985
61,985
61,985
61,985
61,985
47,221
47,221
47,221
47,221
47,221
47,221
47,221
47,221
31,218
31,218
31,218
31,218
31,218
31,218
31,218
31,218
13,891
13,891
13,891
13,891
13,891
13,891
13,891
13,891
-4,847
-4,847
-4,847
-4,847
-4,847
-4,847
-4,847
-4,847
-25,090
-25,090
-25,090
-25,090
-25,090
-25,090
-25,090
-25,090
-46,937
-46,937
-46,937
-46,937
-46,937
-46,937
-46,937
-46,937
-70,489
-70,489
-70,489
-70,489
-70,489
-70,489
-70,489
-70,489
-95,855
-95,855
-95,855
-95,855
-95,855
-95,855
-95,855
-95,855
-123,147
-123,147
-123,147
-123,147
-123,147
-123,147
-123,147
-123,147
-152,483
-152,483
-152,483
-152,483
-152,483
-152,483
-152,483
-152,483
-183,986
-183,986
-183,986
-183,986
-183,986
-183,986
-183,986
-183,986
-217,786
-217,786
-217,786
-217,786
-217,786
-217,786
-217,786
-217,786
-254,016
-254,016
-254,016
-254,016
-254,016
-254,016
-254,016
-254,016
-292,819
-292,819
-292,819
-292,819
-292,819
-292,819
-292,819
-292,819
-334,339
-334,339
-334,339
-334,339
-334,339
-334,339
-334,339
-334,339
-378,730
-378,730
-378,730
-378,730
-378,730
-378,730
-378,730
-378,730
-426,151
-426,151
-426,151
-426,151
-426,151
-426,151
-426,151
-426,151
-476,769
-476,769
-476,769
-476,769
-476,769
-476,769
-476,769
-476,769
-530,754
-530,754
-530,754
-530,754
-530,754
-530,754
-530,754
-530,754
-588,288
-588,288
-588,288
-588,288
-588,288
-588,288
-588,288
-588,288
62%
65%
68%
71%
74%
77%
80%
83%
176,810
176,810
176,810
176,810
176,810
176,810
176,810
176,810
172,616
172,616
172,616
172,616
172,616
172,616
172,616
172,616
167,987
167,987
167,987
167,987
167,987
167,987
167,987
167,987
162,886
162,886
162,886
162,886
162,886
162,886
162,886
162,886
157,272
157,272
157,272
157,272
157,272
157,272
157,272
157,272
151,101
151,101
151,101
151,101
151,101
151,101
151,101
151,101
144,329
144,329
144,329
144,329
144,329
144,329
144,329
144,329
136,906
136,906
136,906
136,906
136,906
136,906
136,906
136,906
128,781
128,781
128,781
128,781
128,781
128,781
128,781
128,781
119,899
119,899
119,899
119,899
119,899
119,899
119,899
119,899
110,203
110,203
110,203
110,203
110,203
110,203
110,203
110,203
99,630
99,630
99,630
99,630
99,630
99,630
99,630
99,630
88,115
88,115
88,115
88,115
88,115
88,115
88,115
88,115
75,591
75,591
75,591
75,591
75,591
75,591
75,591
75,591
61,985
61,985
61,985
61,985
61,985
61,985
61,985
61,985
47,221
47,221
47,221
47,221
47,221
47,221
47,221
47,221
31,218
31,218
31,218
31,218
31,218
31,218
31,218
31,218
13,891
13,891
13,891
13,891
13,891
13,891
13,891
13,891
-4,847
-4,847
-4,847
-4,847
-4,847
-4,847
-4,847
-4,847
-25,090
-25,090
-25,090
-25,090
-25,090
-25,090
-25,090
-25,090
-46,937
-46,937
-46,937
-46,937
-46,937
-46,937
-46,937
-46,937
-70,489
-70,489
-70,489
-70,489
-70,489
-70,489
-70,489
-70,489
-95,855
-95,855
-95,855
-95,855
-95,855
-95,855
-95,855
-95,855
-123,147
-123,147
-123,147
-123,147
-123,147
-123,147
-123,147
-123,147
-152,483
-152,483
-152,483
-152,483
-152,483
-152,483
-152,483
-152,483
-183,986
-183,986
-183,986
-183,986
-183,986
-183,986
-183,986
-183,986
-217,786
-217,786
-217,786
-217,786
-217,786
-217,786
-217,786
-217,786
-254,016
-254,016
-254,016
-254,016
-254,016
-254,016
-254,016
-254,016
-292,819
-292,819
-292,819
-292,819
-292,819
-292,819
-292,819
-292,819
-334,339
-334,339
-334,339
-334,339
-334,339
-334,339
-334,339
-334,339
-378,730
-378,730
-378,730
-378,730
-378,730
-378,730
-378,730
-378,730
-426,151
-426,151
-426,151
-426,151
-426,151
-426,151
-426,151
-426,151
-476,769
-476,769
-476,769
-476,769
-476,769
-476,769
-476,769
-476,769
-530,754
-530,754
-530,754
-530,754
-530,754
-530,754
-530,754
-530,754
-588,288
-588,288
-588,288
-588,288
-588,288
-588,288
-588,288
-588,288
86%
89%
92%
95%
98%
101%
104%
107%
176,810
176,810
176,810
176,810
176,810
176,810
176,810
176,810
172,616
172,616
172,616
172,616
172,616
172,616
172,616
172,616
167,987
167,987
167,987
167,987
167,987
167,987
167,987
167,987
162,886
162,886
162,886
162,886
162,886
162,886
162,886
162,886
157,272
157,272
157,272
157,272
157,272
157,272
157,272
157,272
151,101
151,101
151,101
151,101
151,101
151,101
151,101
151,101
144,329
144,329
144,329
144,329
144,329
144,329
144,329
144,329
136,906
136,906
136,906
136,906
136,906
136,906
136,906
136,906
128,781
128,781
128,781
128,781
128,781
128,781
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-588,288

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Caso 1 VF

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Periodos

Aos de estudios universitarios (AEU)

Periodo de gracia (PG)

Perodo de repago (PR)

Aos al lanzamiento del esquema (AL)

Tasa de inters efectiva anual (TEA 1)

Tasa de inters efectiva mensual (TEM 2)

Tasa de inters efectiva anual (TEA 2)

Tasa de inflacin esperada anual (INFLAE)

Tasa de inflacin por experiencia

Tasa de inflacin por experiencia al cuadrado

Intereses a pagar durante los Aos de estudios Q1

Intereses a pagar durante los Aos de estudios Q2

Intereses a pagar durante los Aos de estudios Q3

Ingreso anual promedio ao base al egresar

Ingreso mensual esperado al egresar

Ingreso mensual promedio ao base al egresar

Ingreso anual esperado al egresar

Probabilidad de desercin condicional estudio

Probabilidad de default promedio inicial

Probabilidad de default promedio final

Caso N 1: Un programa de crdito educativo para el Per

Estudios Universitarios Quintil 1 d

Desembolso del Saldo de la Intereses

Estudios Universitarios Quintil 2 d

Estudios Universitarios Quintil 3 de Ingresos

Desembolso del banco

Caso N 1: Un programa de crdito educativo para el Per

VAN de las familias

Alumnos Universitarios Quintil 1

Ingreso con superior deducido de

Ingreso con secundaria completa

Diferencial del ingreso

Alumnos Universitarios Quintil 2

Ingreso con superior deducido de

Ingreso con secundaria completa

Diferencial del ingreso

Alumnos Universitarios Quintil 3

Ingreso con superior deducido de

Ingreso con secundaria completa

Diferencial del ingreso

Caso N 1: Un programa de crdito educativo para el Per

Estudios Universitarios Quintil 1

Estudios Universitarios Quintil 2

Estudios Universitarios Quintil 3

Caso N 1: Un programa de crdito educativo para el Per

Estudios Universitarios Quintil 1

Clculo de recaudacin tributaria

Recaudacin esperada c/proyect

Recaudacin esperada s/proyect

Estudios Universitarios Quintil 2

Clculo de recaudacin tributaria

Recaudacin esperada c/proyect

Recaudacin esperada s/proyect

Estudios Universitarios Quintil 3

Clculo de recaudacin tributaria

Recaudacin esperada c/proyect

Recaudacin esperada s/proyect

Caso N 1: Un programa de crdito educativo para el Per

VAN DEL ESTADO

Cuota fija mensual

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