{"text_format":"1","workbook":"xlsx","n_sheets":11,"sheets":["INTRODUCTION","TABLE","ROAROE","CALCULUS","CALCULUS EX","LOAN","LOAN2","LOAN2 EX","AMORT","RockyMountain","RockyMountainPlus"],"not_rendered":{"charts":0,"images":0,"macros":1,"external_links":0,"defined_names":2,"comments":0,"pivot_tables":0},"unopened":[],"bounds":{"document_bytes":16777216,"sheet_cells":100000,"rows_first":2000,"rows_last":500,"rows_between":2000,"halvings":0,"cell_chars":16384,"cell_head_chars":4096},"cells_cut":0,"cells_raw":0,"read":"whole","date_system":"1900"}

{"sheet":"INTRODUCTION","index":0,"n_rows":16,"n_cols":4,"rows_kept":16,"cut":false,"hidden":false,"merged":[]}
["PROJECT FINANCE MODELING"]
[]
["PHILIPPE DUCHEMIN",null,null,"2020-12-02"]
[]
[]
[]
[null,"TABLE"]
[null,"ROAROE"]
[null,"CALCULUS"]
[null,"CALCULUS EX"]
[null,"LOAN"]
[null,"LOAN2"]
[null,"LOAN2 EX"]
[null,"AMORTIZATION"]
[null,"ROCKY MOUNTAIN"]
[null,"ROCKY MOUNTAIN PLUS"]

{"sheet":"TABLE","index":1,"n_rows":57,"n_cols":16,"rows_kept":57,"cut":false,"hidden":false,"merged":[]}
["TABLES"]
[null,"INPUT CELL",null,{"$f":"_xlfn.FORMULATEXT(D3)","v":"=B3^2"},{"$f":"_xlfn.FORMULATEXT(E3)","v":"=ACOS(B3/500)"},"=LOG(B3)","=1/B3"]
[null,2,null,{"$f":"B3^2","v":4},{"$f":"ACOS(B3/500)","v":1.5667963161281531},{"$f":"LOG(B3)","v":0.3010299956639812},{"$f":"1/B3","v":0.5}]
[null," ",1,1,1.5687963254615609,0,1]
[null,null,2,4,1.5667963161281531,0.3010299956639812,0.5]
[null,null,3,9,1.5647962907943134,0.47712125471966244,0.33333333333333331]
[null,null,4,16,1.5627962414591055,0.6020599913279624,0.25]
[null,null,5,25,1.5607961601207294,0.69897000433601886,0.2]
[null,null,6,36,1.5587960387762325,0.77815125038364363,0.16666666666666666]
[null,null,7,49,1.5567958694212216,0.84509804001425681,0.14285714285714285]
[null,null,8,64,1.5547956440495747,0.90308998699194354,0.125]
[null,null,9,81,1.5527953546531517,0.95424250943932487,0.1111111111111111]
[null,null,10,100,1.5507949932215062,1,0.1]
[null,null,11,121,1.5487945517415962,1.0413926851582251,9.0909090909090912E-2]
[null,null,null,{"$f":"_xlfn.FORMULATEXT(D14)","v":"{=TABLE(;B3)}"},{"$f":"_xlfn.FORMULATEXT(E14)","v":"{=TABLE(;B3)}"},"{=TABLE(;B3)}","{=TABLE(;B3)}"]
[]
[null,"INPUT CELLS",{"$f":"_xlfn.FORMULATEXT(C18)","v":"=B18+B19*B19"}]
["line",3,{"$f":"B18+B19*B19","v":7},3,5,7,15]
["column",2,2,7,9,11,19]
[null,null,{"$f":"C19+6","v":8},67,69,71,79]
[null,null,14,199,201,203,211]
[null,null,20,403,405,407,415]
[null,null,26,679,681,683,691]
[null,null,32,1027,1029,1031,1039]
[null,null,38,1447,1449,1451,1459]
[null,null,44,1939,1941,1943,1951]
[null,null,50,2503,2505,2507,2515]
[null,null,56,3139,3141,3143,3151]
[null,null,62,3847,3849,3851,3859]
[null,null,null,{"$f":"_xlfn.FORMULATEXT(D29)","v":"{=TABLE(B18;B19)}"},{"$f":"_xlfn.FORMULATEXT(E29)","v":"{=TABLE(B18;B19)}"},{"$f":"_xlfn.FORMULATEXT(F29)","v":"{=TABLE(B18;B19)}"},{"$f":"_xlfn.FORMULATEXT(G29)","v":"{=TABLE(B18;B19)}"}]
[]
[null,"SCENARIO TABLE"]
[]
[null,"Scenario Number","Inflation Rate","Duration of Project","Price of KWH","Price Index","Production","Capacity Rate","Redevance % de CA","Tax %CA",{"$f":"_xlfn.FORMULATEXT(K35)","v":"=CSC"},"IrrOperations","Van Operations","Value Operations","PayBack Operations","Irr Equity"]
[null,null,null,null,null,null,null,null,null,null,{"$f":"CSC","v":2},{"$f":"I46","v":3270},{"$f":"I47","v":709},{"$f":"I48","v":30.01},{"$f":"I49","v":100},{"$f":"I50","v":6.0100000000000001E-2}]
[null,1,0.01,30,110,100,500,1,0,5.0000000000000001E-3,1,3300,710,30,100,6.0100000000000001E-2]
[null,2,0.01,{"$f":"D36","v":30},109,100,500,1,0.01,5.0000000000000001E-3,2,3270,709,30.01,100,6.0100000000000001E-2]
[null,3,0.01,{"$f":"D37","v":30},108,100,500,1,0.02,5.0000000000000001E-3,3,3240,708,30.02,100,6.0100000000000001E-2]
[null,4,0.01,30,107,100,500,1,0.03,5.0000000000000001E-3,4,3210,707,30.03,100,6.0100000000000001E-2]
[null,5,0.01,30,106,100,500,1,0.04,5.0000000000000001E-3,5,3180,706,30.04,100,6.0100000000000001E-2]
[]
[]
[]
[null,"SCENARIO",2]
[]
[null,"INPUT",1,"Inflation Rate",{"$f":"INDEX(TSC,CSC,C46)","v":0.01},null,"OUTPUT","IrrOperations",{"$f":"E47*E48","v":3270}]
[null,null,2,"Duration of Project",30,null,null,"Van Operations",{"$f":"E49+E50+E48","v":709}]
[null,null,3,"Price of KWH",109,null,null,"Value Operations",{"$f":"E47*E51+E52","v":30.01}]
[null,null,4,"Price Index",100,null,null,"PayBack Operations",{"$f":"E51/E46","v":100}]
[null,null,5,"Production",500,null,null,"Irr Equity",{"$f":"E46/100*(E49+E50+E51)","v":6.0100000000000001E-2}]
[null,null,6,"Capacity Rate",1]
[null,null,7,"Redevance % de CA",0.01,null,null,"Value Equity",{"$f":"E51+E50","v":501}]
[null,null,8,"Tax %CA",5.0000000000000001E-3,null,null,"DSCR",{"$f":"I52/E48","v":4.5963302752293576}]
[null,null,null,null,null,null,null,"LLCR",{"$f":"I53/E46","v":459.63302752293572}]
[null,null,"FX rate",null,5.4]
[null,null,"Cost of Coal",null,44]
[null,null,"Company Tax Rate",null,0.33]

{"sheet":"ROAROE","index":2,"n_rows":14,"n_cols":6,"rows_kept":14,"cut":false,"hidden":false,"merged":[]}
[]
[]
[null,null,"French EUR","Vietnam VND","Vietnam USD"]
[null,null,"billion","billion","billion"]
[null,"ASSETS",7576,12927000,{"$f":"D5*1000/25000000","v":517.08000000000004},"(1)"]
[null,"REVENUE",147,null,null,"(2)"]
[null,"PROFIT",25,null,null,"(3)"]
[null,"EQUITY",400,1100000,{"$f":"D8*1000/25000000","v":44},"(4)"]
[]
[null,"MARGIN",{"$f":"C6/C5","v":1.9403379091869059E-2},null,null,"(1)/(2)"]
[null,"ROA",{"$f":"C7/C5","v":3.2998944033790917E-3},null,5.1000000000000004E-3,"(1)/(3)"]
[null,"DEBT RATIO",{"$f":"(C5-C8)/C5","v":0.94720168954593453},null,null,"(1)/(4)"]
[null,"ROE",{"$f":"C7/C8","v":6.25E-2},null,6.2700000000000006E-2,"(3)/(4)"]
[null,"https://www.sbv.gov.vn/webcenter/portal/en/home/sbv/statistic/ooci/ksr?_afrLoop=5884292371000297#%40%3F_afrLoop%3D5884292371000297%26centerWidth%3D80%2525%26leftWidth%3D20%2525%26rightWidth%3D0%2525%26showFooter%3Dfalse%26showHeader%3Dfalse%26_adf.ctrl-state%3Dfnyrtp4pw_562"]

{"sheet":"CALCULUS","index":3,"n_rows":179,"n_cols":14,"rows_kept":179,"cut":false,"hidden":false,"merged":[]}
["FINANCIAL CALCULUS"]
[null,null,null,"Arguments"]
[null,1,"FV","cash","years","rate"]
[null,2,"PV","cash","years","rate"]
[null,3,"NPV","cash list","rate"]
[null,4,"XNPV","cash list","date list","rate"]
[null,5,"FVSCHEDULE","cash","rate list"]
[null,6,"IRR","cash list"]
[null,7,"XIRR","cash list","date list"]
[]
[1,"FUTURE VALUE CONSTANT CASH FLOW"]
[null,null,"1000 USD duraing 4 years, with 10% annual interest rate"]
[]
[null,null,"Cash",1000]
[null,null,"Years",4]
[null,null,"Rate",0.1]
[]
[null,null,"FV",{"$f":"FV(D16,D15,D14)","v":-4641.0000000000036},{"$f":"forme(D18)","v":"=FV(D16,D15,D14)"}]
[]
[null,null,null,"years","flows","cash","interest","total"]
[null,null,"Control",1,{"$f":"D14","v":1000},{"$f":"E21","v":1000},{"$f":"F21*$D$16","v":100},{"$f":"F21+G21","v":1100}]
[null,null,null,2,{"$f":"E21","v":1000},{"$f":"H21+E22","v":2100},{"$f":"F22*$D$16","v":210},{"$f":"F22+G22","v":2310}]
[null,null,null,3,{"$f":"E22","v":1000},{"$f":"H22+E23","v":3310},331,3641]
[null,null,null,4,1000,4641,464.1,5105.1000000000004]
[]
[2,"PRESENT VALUE"]
[null,null,"Deposit 150 USD during 6 years, with annual interest capitalized at 4%"]
[]
[null,null,"Cash",150]
[null,null,"Years",6]
[null,null,"Rate",0.04]
[]
[null,null,"PV",{"$f":"PV(D31,D30,D29)","v":-786.32052851195351},{"$f":"forme(D33)","v":"=PV(D31,D30,D29)"},null,null,{"$f":"forme(D33)","v":"=PV(D31,D30,D29)"}]
[]
[null,null,"Controls","years",null,"DF","Present Cash Flow"]
[null,null,"Flows",0,{"$f":"D28","v":0},{"$f":"POWER(1+$D$31,-D36)","v":1}]
[null,null,null,1,{"$f":"D29","v":150},{"$f":"POWER(1+$D$31,-D37)","v":0.96153846153846145},{"$f":"F37*E37","v":144.23076923076923}]
[null,null,null,2,{"$f":"E37","v":150},0.92455621301775137,138.68343195266272]
[null,null,null,3,{"$f":"E38","v":150},0.88899635867091487,133.34945380063724]
[null,null,null,4,{"$f":"E39","v":150},0.85480419102972571,128.22062865445886]
[null,null,null,5,{"$f":"E40","v":150},0.82192710675935154,123.28906601390273]
[null,null,null,6,{"$f":"E41","v":150},0.79031452573014571,118.54717885952185]
[null,null,null,null,null,null,{"$f":"SUM(G37:G42)","v":786.3205285119526}]
[]
[3,"PRESENT VALUE wifh DIFFERENT FLOWS"]
[null,null,"Cash amounts are 1000, 500, 1500 and 3000 at the beginning of each year, with a cash account with annual rate of 3%"]
[]
[null,null,"Rate",0.03]
[]
[null,null,null,null,"Cash Flows","DF","Present Cash Flow"]
[null,null,null,0,null,{"$f":"POWER(1+$D$34,-D51)","v":1}]
[null,null,null,1,1000,{"$f":"POWER(1+$D$48,-D52)","v":0.970873786407767},{"$f":"F52*E52","v":970.87378640776706}]
[null,null,null,2,-500,{"$f":"POWER(1+$D$48,-D53)","v":0.94259590913375435},-471.29795456687719]
[null,null,null,3,-1500,0.91514165935315961,-1372.7124890297393]
[null,null,null,4,3000,0.888487047915689,2665.4611437470671]
[null,null,null,null,null,null,{"$f":"SUM(G51:G55)","v":1792.3244865582176}]
[null,null,"NPV",{"$f":"NPV(D48,E52:E55)","v":1792.3244865582171},{"$f":"forme(D57)","v":"=NPV(D48,E52:E55)"}]
[]
[4,"PRESENT VALUE with DATES"]
[null,null,"Cash amounts are 150, 200, 200,250 and 400 at the beginning of each year, with a cash account with annual rate of 5%"]
[]
[null,null,"Rate",0.05]
[]
[null,null,"years","cash","days",null,"dates","DF",null,"DF cash flows"]
[null,null,1,150,"today",0,{"$f":"TODAY()","v":"2020-12-01"},1,365,{"$f":"H65*D65","v":150},{"$f":"forme(H65)","v":"1"}]
[null,null,2,200,25,{"$f":"F65+E66","v":25},{"$f":"G65+E66","v":"2020-12-26"},{"$f":"POWER(1+$D$62,-F66/I66)","v":0.99666378550594925},{"$f":"I65","v":365},{"$f":"H66*D66","v":199.33275710118986},{"$f":"forme(H66)","v":"=POWER(1+$D$62,-F66/I66)"}]
[null,null,3,200,65,{"$f":"F66+E67","v":90},{"$f":"G66+E67","v":"2021-03-01"},{"$f":"POWER(1+$D$62,-F67/I67)","v":0.9880416251145111},{"$f":"I66","v":365},{"$f":"H67*D67","v":197.60832502290222},{"$f":"forme(H67)","v":"=POWER(1+$D$62,-F67/I67)"}]
[null,null,4,250,33,123,{"$f":"G67+E68","v":"2021-04-03"},0.98369280868422859,365,{"$f":"H68*D68","v":245.92320217105714},{"$f":"forme(H68)","v":"=POWER(1+$D$62,-F68/I68)"}]
[null,null,5,400,44,167,{"$f":"G68+E69","v":"2021-05-17"},0.97792414725069399,365,{"$f":"H69*D69","v":391.16965890027757},"=POWER(1+$D$62,-F69/I69)"]
[null,null,null,null,null,null,null,null,null,{"$f":"SUM(J65:J69)","v":1184.0339431954267}]
[null,null,"XNPV",{"$f":"XNPV(D62,D65:D69,G65:G69)","v":1184.0339431954269},{"$f":"forme(D71)","v":"=XNPV(D62,D65:D69,G65:G69)"}]
[]
[5,"FUTURE VALUE with DATES"]
[null,null,"Cash amounts are 150, 200, 200,250 and 400 at the beginning of each year, with a cash account with annual rate of 5%"]
[]
[null,null,"Rate",2000]
[]
[null,null,"years","cash",{"$f":"+D76","v":2000}]
[null,null,1,0.05,{"$f":"E78*(1+D79)","v":2100},{"$f":"forme(E79)","v":"=E78*(1+D79)"}]
[null,null,2,0.04,{"$f":"E79*(1+D80)","v":2184},{"$f":"forme(E80)","v":"=E79*(1+D80)"}]
[null,null,3,0.03,2249.52,"=E80*(1+D81)"]
[null,null,4,0.05,2361.9960000000001,"=E81*(1+D82)"]
[null,null,5,0.04,2456.4758400000001,"=E82*(1+D83)"]
[]
[null,null,"FVSCHEDULE",{"$f":"FVSCHEDULE(D76,D79:D83)","v":2456.4758400000001},{"$f":"forme(D85)","v":"=FVSCHEDULE(D76,D79:D83)"}]
[]
[6,"INTERNAL RATE RETURN"]
[null,null,null,null,null,{"$f":"+D96","v":1.2552295140598968E-2},null,null,{"$f":"D97","v":0.16247203946113592}]
[null,null,"DATES","CASH FLOWS",null,null,"Monthly","Days",null,"Daily"]
[null,null,"2020-02-01",-12000,0,{"$f":"POWER((1+$F$88),-E90)","v":1},{"$f":"D90*F90","v":-12000},{"$f":"C90-$C$90","v":0},{"$f":"POWER((1+$I$88),-(H90/365))","v":1},{"$f":"D90*I90","v":-12000}]
[null,null,"2020-03-01",200,1,{"$f":"POWER((1+$F$88),-E91)","v":0.98760331174909244},{"$f":"D91*F91","v":197.52066234981848},{"$f":"C91-$C$90","v":29},{"$f":"POWER((1+$I$88),-(H91/365))","v":0.98810984131615054},{"$f":"D91*I91","v":197.62196826323012}]
[null,null,"2020-04-01",300,2,{"$f":"POWER((1+$F$88),-E92)","v":0.97536030137777519},292.60809041333255,{"$f":"C92-$C$90","v":60},{"$f":"POWER((1+$I$88),-(H92/365))","v":0.97555596600991157},292.66678980297348]
[null,null,"2020-05-01",-100,3,{"$f":"POWER((1+$F$88),-E93)","v":0.96326906378928356},-96.326906378928356,{"$f":"C93-$C$90","v":90},{"$f":"POWER((1+$I$88),-(H93/365))","v":0.9635589368837858},-96.355893688378586]
[null,null,"2020-06-01",12200,4,{"$f":"POWER((1+$F$88),-E94)","v":0.95132771750374434},11606.198153545682,{"$f":"C94-$C$90","v":121},{"$f":"POWER((1+$I$88),-(H94/365))","v":0.95131697932192316},11606.067147727463]
[null,null,null,null,null,null,{"$f":"SUM(G90:G94)","v":-7.0096575655043125E-8},null,null,{"$f":"SUM(J90:J94)","v":1.2105288988095708E-5}]
[null,null,"IRR",{"$f":"IRR(D90:D94)","v":1.2552295140598968E-2},{"$f":"forme(D96)","v":"=IRR(D90:D94)"}]
[null,null,"XIRR",{"$f":"XIRR(D90:D94,C90:C94)","v":0.16247203946113592},{"$f":"forme(D97)","v":"=XIRR(D90:D94,C90:C94)"}]
[null,null,null,null,{"$f":"forme(D98)","v":""}]
[null,null,null,{"$f":"D96*12","v":0.15062754168718762},"=D96*12"]
[null,null,null,{"$f":"(1+D96)^12-1","v":0.16147415111421926},"=(1+D96)^12-1"]
[]
[null,null,null,{"$f":"NPV(D96,D90:D94)","v":-6.9231203139109361E-8},"=NPV(D96,D90:D94)"]
[null,null,null,{"$f":"XNPV(D97,D90:D94,C90:C94)","v":1.2105288988095708E-5},{"$f":"forme(D103)","v":"=XNPV(D97,D90:D94,C90:C94)"}]
[]
[7,"MODIFIED INTERNAL RATE RETURN"]
[null,null,null,null,null,null,"PAY BACK",null,null,0.03,0.05,"DF Flows","DF Flows"]
[null,null,"DATES","IN FLOWS","OUT FLOWS",null,"SUM","DF SUM","DF",{"$f":"1/(1+J106)","v":0.970873786407767},{"$f":"1/(1+K106)","v":0.95238095238095233}]
[null,null,"2020-01-01",-12000,0,{"$f":"D108+E108","v":-12000},{"$f":"D108+E108","v":-12000},{"$f":"F108*J108","v":-12000},0,{"$f":"POWER((1+$J$106),-I108)","v":1},{"$f":"POWER((1+$K$106),-I108)","v":1},{"$f":"J108*D108","v":-12000},{"$f":"K108*E108","v":0}]
[null,null,"2021-01-01",-10000,0,{"$f":"D109+E109","v":-10000},{"$f":"G108+D109+E109","v":-22000},{"$f":"H108+F109*J109","v":-21708.73786407767},1,0.970873786407767,0.95238095238095233,-9708.7378640776697,0]
[null,null,"2022-01-01",-5000,5000,0,{"$f":"G109+D110+E110","v":-22000},{"$f":"H109+F110*J110","v":-21708.73786407767},2,0.94259590913375435,0.90702947845804982,-4712.9795456687716,4535.1473922902487]
[null,null,"2023-01-01",-3000,6000,3000,-19000,-18963.31288601819,3,0.91514165935315961,0.86383759853147601,-2745.4249780594787,5183.0255911888562]
[null,null,"2024-01-01",0,7000,7000,-12000,-12743.903550608367,4,0.888487047915689,0.82270247479188197,0,5758.9173235431736]
[null,null,"2025-01-01",0,7000,7000,-5000,-6705.6420599192188,5,0.86260878438416411,0.78352616646845896,0,5484.6831652792125]
[null,null,"2026-01-01",0,8000,8000,3000,-5.768006449983659,6,0.83748425668365445,0.74621539663662761,0,5969.7231730930207]
[null,null,"2027-01-01",0,8000,8000,11000,6498.9640842968465,7,0.81309151134335378,0.71068133013012147,0,5685.4506410409722]
[null,null,"2028-01-01",0,10000,10000,21000,14393.056427436204,8,0.78940923431393573,0.67683936202868722,0,6768.3936202868717]
[null,null,"2029-01-01",0,10000,10000,31000,22057.223750872472,9,0.76641673234362695,0.64460891621779726,0,6446.0891621779729]
[null,null,"2030-01-01",0,10000,10000,41000,29498.162899839725,10,0.74409391489672516,0.61391325354075932,0,6139.1325354075934]
[null,null,null,{"$f":"SUM(D108:D118)","v":-30000},{"$f":"SUM(E108:E118)","v":71000},{"$f":"SUM(F108:F118)","v":41000},null,null,null,null,null,{"$f":"SUM(L108:L118)","v":-29167.142387805921},{"$f":"SUM(M108:M118)","v":51970.562604307925},{"$f":"L119+M119","v":22803.420216502003}]
[null,null,null,null,null,null,null,null,null,null,null,{"$f":"-L119","v":29167.142387805921},{"$f":"M119/K118","v":84654.570176757814},{"$f":"M120/L120","v":2.9023950667224034}]
[null,null,null,{"$f":"D119+E119","v":41000},{"$f":"forme(D121)","v":"=D119+E119"}]
[null,null,"IRR",{"$f":"IRR(F108:F118)","v":0.18312973477636985},{"$f":"forme(D122)","v":"=IRR(F108:F118)"},null,null,null,null,null,"PI",{"$f":"-M119/L119","v":1.7818187984722},{"$f":"forme(L122)","v":"=-M119/L119"}]
[null,null,null,0.05,0.08,null,null,null,null,null,null,{"$f":"LN(M120/L120)/I118","v":0.10655362812136979},"=LN(M120/L120)/I118"]
[null,null,"NPV",{"$f":"NPV(D123,D108:D118)","v":-27286.16163018495},{"$f":"forme(D124)","v":"=NPV(D123,D108:D118)"},null,null,null,null,null,null,{"$f":"EXP(L123)","v":1.1124375827837474},"=EXP(L123)"]
[null,null,"NPV",{"$f":"NPV(E123,E108:E118)","v":40467.937472948586},"=NPV(E123,E108:E118)",null,null,null,null,null,"MIRR",{"$f":"L124-1","v":0.11243758278374738},"=L124-1"]
[null,null,"NPV",{"$f":"NPV(D123,F108:F118)","v":22209.612278679724},"=NPV(D123,F108:F118)"]
[null,null,null,{"$f":"D126/J107","v":22875.900647040115},"=D126/J107",null,null,null,null,null,null,{"$f":"(1+L125)^I118","v":2.9023950667224034}]
[null,null,null,null,""]
[8,"PROJECT EVALUATION",null,null,""]
[]
[null,"PROJECT A","YEARS","IN FLOWS",null,"IRR",{"$f":"IRR(D132:D136)","v":0.14488844278532143}]
[null,null,1,-1000,null,"rate",0.1]
[null,null,2,500,null,"NPV",{"$f":"NPV(G132,D132:D136)*(1+G132)","v":78.819752749128995}]
[null,null,3,400,null,"CASH IN PRES",{"$f":"NPV(G132,D133:D136)","v":1078.8197527491291},{"$f":"G134*(1+G132)^4","v":1579.5000000000002},"PI",{"$f":"-G136","v":1.078819752749129}]
[null,null,4,300,null,"CASH OUT",{"$f":"D132","v":-1000},{"$f":"G135","v":-1000},"MIRR",{"$f":"EXP(LN(-H136)/4)","v":1.1210627118672731}]
[null,null,5,100,null,"ratio",{"$f":"G134/G135","v":-1.078819752749129},{"$f":"H134/H135","v":-1.5795000000000001},null,{"$f":"J135-1","v":0.12106271186727313}]
[]
[null,"PROJECT B","YEARS","IN FLOWS",null,"IRR",{"$f":"IRR(D139:D143)","v":0.11790555626093946}]
[null,null,1,-1000,null,"rate",0.1]
[null,null,2,100,null,"NPV",{"$f":"NPV(G139,D139:D143)*(1+G139)","v":49.17696878628476}]
[null,null,3,300,null,"CASH IN PRES",{"$f":"NPV(G139,D140:D143)","v":1049.176968786285},{"$f":"G141*(1+G139)^4","v":1536.1000000000004},"PI",{"$f":"-G143","v":1.0491769687862851}]
[null,null,4,400,"MIRR","CASH OUT",{"$f":"D139","v":-1000},{"$f":"G142","v":-1000},"MIRR",{"$f":"EXP(LN(-H143)/4)","v":1.1132811925593122}]
[null,null,5,600,null,"ratio",{"$f":"G141/G142","v":-1.0491769687862851},{"$f":"H141/H142","v":-1.5361000000000005},null,{"$f":"J142-1","v":0.11328119255931224}]
[]
[null,"PROJECT A-B","YEARS","IN FLOWS",null,"IRR",{"$f":"IRR(D146:D150)","v":7.1672799780043706E-2}]
[null,null,1,{"$f":"D132-D139","v":0},null,"rate",0.1]
[null,null,2,{"$f":"D133-D140","v":400},null,"NPV",{"$f":"NPV(G146,D146:D150)*(1+G146)","v":29.642783962844192}]
[null,null,3,100,null,"CASH IN PRES",{"$f":"NPV(G146,D147:D150)","v":29.64278396284416},{"$f":"G148*(1+G146)^4","v":43.400000000000148},"PI"]
[null,null,4,-100,"MIRR","CASH OUT",{"$f":"D146","v":0},{"$f":"G149","v":0},"MIRR"]
[null,null,5,-500,null,"ratio"]
[]
[9,"PROJECT EVALUATION"]
[]
[null,null,"Project",0,1,2,3,"NPV","IRR","SUM","RATE"]
[null,null,"A",-100,50,100,500,{"$f":"NPV(K155,D155:G155)*(1+K155)","v":380.25236880466463},{"$f":"IRR(D155:G155)","v":1.1043327774423322},{"$f":"SUM(D155:G155)","v":550},0.12]
[null,null,"B",-200,600,100,50,451.02268586005823,2.1818356038437341,550,0.12]
[null,null,"C",-300,100,700,100,418.49945335276959,0.76357648405252432,600,0.12]
[null,null,"A+B",-300,650,200,550,831.2750546647228,1.6727405828765751,1100,0.12]
[null,null,"B+C",-500,700,800,150,869.52213921282782,1.1922616983056118,1150,0.12]
[null,null,"A+C",-400,150,800,600,798.75182215743416,0.87170976996367644,1150,0.12]
[]
[10,"EAC"]
[]
[null,null,"Project A","Project B",null,null,null,"Project C","Project D"]
[null,null,-30,-40,null,null,null,-1000,-3000]
[null,null,-10,10,null,null,null,-18000,-12000]
[null,null,{"$f":"C166","v":-10},{"$f":"D166","v":10},null,null,null,{"$f":"H166","v":-18000},{"$f":"I166","v":-12000}]
[null,null,{"$f":"C167","v":-10},{"$f":"D167","v":10},null,null,null," ",{"$f":"I167","v":-12000}]
[null,null,15,10,null,null,null," ",-12000]
[null,null,null,10,null,null,null,null," "]
[null,null,null,15,null,null,null,null," "]
[]
[null,"DURATION",5,7,null,null,{"$f":"B173","v":"DURATION"},3,5]
[null,"Rate",0.1,0.1,null,null,{"$f":"B174","v":"Rate"},0.1,0.1]
[null,"NPV",{"$f":"NPV(C174,C165:C169)*(1+C174)","v":-44.623318079366165},{"$f":"NPV(D174,D165:D171)*(1+D174)","v":6.37497664489113},{"$f":"_xlfn.FORMULATEXT(D175)","v":"=VAN(D174;D165:D171)*(1+D174)"},null,"NPV",{"$f":"NPV(H174,H165:H167)*(1+H174)","v":-32239.669421487597},{"$f":"NPV(I174,I165:I169)*(1+I174)","v":-41038.385356191502}]
[null,"EAC",{"$f":"-PMT(C174,C173,C175)","v":-11.771518894039412},{"$f":"-PMT(D174,D173,D175)","v":1.3094552633234897},"=-VPM(D174;D173;D175)",null,"EAC",{"$f":"-PMT(H174,H173,H175)","v":-12964.048338368581},{"$f":"-PMT(I174,I173,I175)","v":-10825.822672847289}]
[]
[null,"control",{"$f":"C174/(1-(1+C174)^(-C173))","v":0.26379748079474524},{"$f":"D174/(1-(1+D174)^(-D173))","v":0.20540549970059557},"=D174/(1-(1+D174)^(-D173))",null,null,{"$f":"H174/(1-(1+H174)^(-H173))","v":0.40211480362537733},{"$f":"I174/(1-(1+I174)^(-I173))","v":0.26379748079474524}]
[null,"control",{"$f":"C178*C175","v":-11.771518894039405},{"$f":"D178*D175","v":1.3094552633234888},"=D178*D175",null,null,{"$f":"H178*H175","v":-12964.048338368568},{"$f":"I178*I175","v":-10825.822672847282}]

{"sheet":"CALCULUS EX","index":4,"n_rows":160,"n_cols":14,"rows_kept":160,"cut":false,"hidden":false,"merged":[]}
["FINANCIAL CALCULUS EX"]
[null,null,null,"Arguments"]
[null,1,"FV","cash","years","rate"]
[null,2,"PV","cash","years","rate"]
[null,3,"NPV","cash list","rate"]
[null,4,"XNPV","cash list","date list","rate"]
[null,5,"FVSCHEDULE","cash","rate list"]
[null,6,"IRR","cash list"]
[null,7,"XIRR","cash list","date list"]
[]
[1,"FUTURE VALUE CONSTANT CASH FLOW"]
[null,null,"1000 USD duraing 4 years, with 10% annual interest rate"]
[]
[null,null,"Cash",1000]
[null,null,"Years",4]
[null,null,"Rate",0.1]
[]
[null,null,"FV",null,{"$f":"forme(D18)","v":""}]
[]
[null,null,null,"years","flows","cash","interest","total"]
[null,null,"Control",1,{"$f":"D14","v":1000}]
[null,null,null,2,{"$f":"E21","v":1000}]
[null,null,null,3,{"$f":"E22","v":1000}]
[null,null,null,4,1000]
[]
[2,"PRESENT VALUE"]
[null,null,"Deposit 150 USD during 6 years, with annual interest capitalized at 4%"]
[]
[null,null,"Cash",150]
[null,null,"Years",6]
[null,null,"Rate",0.04]
[]
[null,null,"PV",null,{"$f":"forme(D33)","v":""},null,null,{"$f":"forme(D33)","v":""}]
[]
[null,null,"Controls","years",null,"DF","Present Cash Flow"]
[null,null,"Flows",0,{"$f":"D28","v":0}]
[null,null,null,1,{"$f":"D29","v":150}]
[null,null,null,2,{"$f":"E37","v":150}]
[null,null,null,3,{"$f":"E38","v":150}]
[null,null,null,4,{"$f":"E39","v":150}]
[null,null,null,5,{"$f":"E40","v":150}]
[null,null,null,6,{"$f":"E41","v":150}]
[null,null,null,null,null,null,{"$f":"SUM(G37:G42)","v":0}]
[]
[3,"PRESENT VALUE wifh DIFFERENT FLOWS"]
[null,null,"Cash amounts are 1000, 500, 1500 and 3000 at the beginning of each year, with a cash account with annual rate of 3%"]
[]
[null,null,"Rate",0.03]
[]
[null,null,null,null,"Cash Flows","DF","Present Cash Flow"]
[null,null,null,0,null,{"$f":"POWER(1+$D$34,-D51)","v":1}]
[null,null,null,1,1000]
[null,null,null,2,-500]
[null,null,null,3,-1500]
[null,null,null,4,3000]
[null,null,null,null,null,null,{"$f":"SUM(G51:G55)","v":0}]
[null,null,"NPV",null,{"$f":"forme(D57)","v":""}]
[]
[4,"PRESENT VALUE with DATES"]
[null,null,"Cash amounts are 150, 200, 200,250 and 400 at the beginning of each year, with a cash account with annual rate of 5%"]
[]
[null,null,"Rate",0.05]
[]
[null,null,"years","cash","days",null,"dates","DF",null,"DF cash flows"]
[null,null,1,150,"today",0,{"$f":"TODAY()","v":"2020-12-01"},null,null,null,{"$f":"forme(H65)","v":""}]
[null,null,2,200,25,{"$f":"F65+E66","v":25},{"$f":"G65+E66","v":"2020-12-26"},null,null,null,{"$f":"forme(H66)","v":""}]
[null,null,3,200,65,{"$f":"F66+E67","v":90},{"$f":"G66+E67","v":"2021-03-01"},null,null,null,{"$f":"forme(H67)","v":""}]
[null,null,4,250,33,123,{"$f":"G67+E68","v":"2021-04-03"},null,null,null,{"$f":"forme(H68)","v":""}]
[null,null,5,400,44,167,{"$f":"G68+E69","v":"2021-05-17"},null,null,null,""]
[null,null,null,null,null,null,null,null,null,{"$f":"SUM(J65:J69)","v":0}]
[null,null,"XNPV",null,{"$f":"forme(D71)","v":""}]
[]
[5,"FUTURE VALUE with DATES"]
[null,null,"Cash amounts are 150, 200, 200,250 and 400 at the beginning of each year, with a cash account with annual rate of 5%"]
[]
[null,null,"Rate",2000]
[]
[null,null,"years","cash",{"$f":"+D76","v":2000}]
[null,null,1,0.05,null,{"$f":"forme(E79)","v":""}]
[null,null,2,0.04,null,{"$f":"forme(E80)","v":""}]
[null,null,3,0.03,null,""]
[null,null,4,0.05,null,""]
[null,null,5,0.04,null,""]
[]
[null,null,"FVSCHEDULE",null,{"$f":"forme(D85)","v":""}]
[]
[6,"INTERNAL RATE RETURN"]
[null,null,null,null,null,{"$f":"+D96","v":0},null,null,{"$f":"D97","v":0}]
[null,null,"DATES","CASH FLOWS",null,null,"Monthly","Days",null,"Daily"]
[null,null,"2020-02-01",-12000,0,null,null,{"$f":"C90-$C$90","v":0}]
[null,null,"2020-03-01",200,1,null,null,{"$f":"C91-$C$90","v":29}]
[null,null,"2020-04-01",300,2,null,null,{"$f":"C92-$C$90","v":60}]
[null,null,"2020-05-01",-100,3,null,null,{"$f":"C93-$C$90","v":90}]
[null,null,"2020-06-01",12200,4,null,null,{"$f":"C94-$C$90","v":121}]
[null,null,null,null,null,null,{"$f":"SUM(G90:G94)","v":0},null,null,{"$f":"SUM(J90:J94)","v":0}]
[null,null,"IRR",null,{"$f":"forme(D96)","v":""}]
[null,null,"XIRR",null,{"$f":"forme(D97)","v":""}]
[null,null,null,null,{"$f":"forme(D98)","v":""}]
[null,null,null,{"$f":"D96*12","v":0},"=D96*12"]
[null,null,null,{"$f":"(1+D96)^12-1","v":0},"=(1+D96)^12-1"]
[]
[null,null,null,{"$f":"NPV(D96,D90:D94)","v":600},{"$f":"forme(D102)","v":"=NPV(D96,D90:D94)"}]
[null,null,null,{"$f":"XNPV(D97,D90:D94,C90:C94)","v":{"$error":"#NUM!"}},"=XNPV(D97,D90:D94,C90:C94)"]
[]
[7,"MODIFIED INTERNAL RATE RETURN"]
[null,null,null,null,null,null,"PAY BACK",null,null,0.03,0.05,"DF Flows","DF Flows"]
[null,null,"DATES","IN FLOWS","OUT FLOWS",null,"SUM","DF SUM","DF",{"$f":"1/(1+J106)","v":0.970873786407767},{"$f":"1/(1+K106)","v":0.95238095238095233}]
[null,null,"2020-01-01",-12000,0,{"$f":"D108+E108","v":-12000},null,null,0]
[null,null,"2021-01-01",-10000,0,{"$f":"D109+E109","v":-10000},null,null,1]
[null,null,"2022-01-01",-5000,5000,0,null,null,2]
[null,null,"2023-01-01",-3000,6000,3000,null,null,3]
[null,null,"2024-01-01",0,7000,7000,null,null,4]
[null,null,"2025-01-01",0,7000,7000,null,null,5]
[null,null,"2026-01-01",0,8000,8000,null,null,6]
[null,null,"2027-01-01",0,8000,8000,null,null,7]
[null,null,"2028-01-01",0,10000,10000,null,null,8]
[null,null,"2029-01-01",0,10000,10000,null,null,9]
[null,null,"2030-01-01",0,10000,10000,null,null,10]
[null,null,null,{"$f":"SUM(D108:D118)","v":-30000},{"$f":"SUM(E108:E118)","v":71000},{"$f":"SUM(F108:F118)","v":41000},null,null,null,null,null,{"$f":"SUM(L108:L118)","v":0},{"$f":"SUM(M108:M118)","v":0},{"$f":"L119+M119","v":0}]
[null,null,null,null,null,null,null,null,null,null,null,{"$f":"-L119","v":0},{"$f":"M119/K118","v":{"$error":"#DIV/0!"}},{"$f":"M120/L120","v":{"$error":"#DIV/0!"}}]
[null,null,null,{"$f":"D119+E119","v":41000},{"$f":"forme(D121)","v":"=D119+E119"}]
[null,null,"IRR",null,{"$f":"forme(D122)","v":""},null,null,null,null,null,"PI",null,{"$f":"forme(L122)","v":""}]
[null,null,null,0.05,0.08,null,null,null,null,null,null,null,""]
[null,null,"NPV",null,{"$f":"forme(D124)","v":""},null,null,null,null,null,null,null,""]
[null,null,"NPV",null,"",null,null,null,null,null,"MIRR",null,""]
[null,null,"NPV",null,""]
[null,null,null,{"$f":"D126/J107","v":0},"=D126/J107",null,null,null,null,null,null,{"$f":"(1+L125)^I118","v":1}]
[null,null,null,null,""]
[8,"PROJECT EVALUATION",null,null,""]
[]
[null,"PROJECT A","YEARS","IN FLOWS",null,"IRR"]
[null,null,1,-1000,null,"rate"]
[null,null,2,500,null,"NPV"]
[null,null,3,400,null,"CASH IN PRES",null,null,"PI"]
[null,null,4,300,null,"CASH OUT",null,null,"MIRR"]
[null,null,5,100,null,"ratio"]
[]
[null,"PROJECT B","YEARS","IN FLOWS",null,"IRR"]
[null,null,1,-1000,null,"rate"]
[null,null,2,100,null,"NPV"]
[null,null,3,300,null,"CASH IN PRES",null,{"$f":"G141*(1+G139)^4","v":0},"PI"]
[null,null,4,400,"MIRR","CASH OUT",null,{"$f":"G142","v":0},"MIRR"]
[null,null,5,600,null,"ratio",null,{"$f":"H141/H142","v":{"$error":"#DIV/0!"}}]
[]
[null,"PROJECT A-B","YEARS","IN FLOWS",null,"IRR"]
[null,null,1,{"$f":"D132-D139","v":0},null,"rate"]
[null,null,2,{"$f":"D133-D140","v":400},null,"NPV"]
[null,null,3,100,null,"CASH IN PRES",null,{"$f":"G148*(1+G146)^4","v":0},"PI"]
[null,null,4,-100,"MIRR","CASH OUT",null,{"$f":"G149","v":0},"MIRR"]
[null,null,5,-500,null,"ratio"]
[]
[9,"PROJECT EVALUATION"]
[]
[null,null,"Project",0,1,2,3,"NPV","IRR","SUM","RATE"]
[null,null,"A",-100,50,100,500]
[null,null,"B",-200,600,100,50]
[null,null,"C",-300,100,700,100]
[null,null,"A+B",-300,650,200,550]
[null,null,"B+C",-500,700,800,150]
[null,null,"A+C",-400,150,800,600]

{"sheet":"LOAN","index":5,"n_rows":46,"n_cols":23,"rows_kept":46,"cut":false,"hidden":false,"merged":[]}
["LOAN"]
[]
[null,"Functions about LOAN"]
[null,"PMT",null,{"$f":"PMT(D14,D13,D12)","v":-11723.050660515959},{"$f":"forme(D4)","v":"=PMT(D14,D13,D12)"},null,"rate","years","amount","future val","type"]
[null,"NPER",null,{"$f":"NPER(D14,D16,D12)","v":9.9999999999999929},"=NPER(D14,D16,D12)",null,"rate","annuity","amount","future val","type"]
[null,"RATE",null,{"$f":"RATE(D13,D16,D12)","v":2.9999999999999766E-2},"=RATE(D13,D16,D12)",null,"duration","annuity","amount","future val","type"]
[null,"IPMT",2,{"$f":"IPMT(D14,C7,D13,D12)","v":-2738.3084801845207},"=IPMT(D14,C7,D13,D12)",null,"rate","rank","duration","amount","future val","type"]
[null,"PPMT",2,{"$f":"PPMT(D14,C8,D13,D12)","v":-8984.7421803314373},"=PPMT(D14,C8,D13,D12)",null,"rate","rank","duration","amount","future val","type"]
[null,"FV",null,{"$f":"FV(D14,-D13,D16)","v":-99999.999999999985},"=FV(D14,-D13,D16)",null,"rate","years","annuity","present val","type"]
[null,"PV",null,{"$f":"PV(D14,D13,-D16)","v":-99999.999999999971},"=PV(D14,D13,-D16)",null,"rate","years","annuity","future val","type"]
[]
[null,null,"Amount",100000,"usd"]
[null,null,"Duration",10,"years"]
[null,null,"Rate",0.03,"per year"]
[null,null,"Period",1,"annual"]
[null,null,"Annuity",{"$f":"PMT(D14,D13,D12)","v":-11723.050660515959},{"$f":"forme(D16)","v":"=PMT(D14,D13,D12)"}]
[]
[null,"TABLE CURRENT CURRENCY",null,null,null,null,"TABLE CONSTANT CURRENCY",null,null,null,null,null,null,"DF INV",null,null,null,null,null,null,null,null," "]
[null,"OUTSTANDING","INTEREST","AMORTIZATION","ANNUITY","DF",{"$f":"B19","v":"OUTSTANDING"},{"$f":"C19","v":"INTEREST"},"AMORTIZATION","ANNUITY",{"$f":"A30","v":11},null,"SUM DF",{"$f":"POWER(1+$D$14,-K19)","v":0.72242127659876232},"CRD","INT","AMO"]
[1,{"$f":"D12","v":100000},{"$f":"B20*$D$14","v":3000},{"$f":"E20-C20","v":8723.050660515959},{"$f":"-D16","v":11723.050660515959},{"$f":"POWER(1+$D$14,-A20)","v":0.970873786407767},{"$f":"B20*$F20","v":97087.378640776704},{"$f":"C20*$F20","v":2912.6213592233012},{"$f":"D20*$F20","v":8468.9812238019022},11381.602583025204,{"$f":"K19-1","v":10},{"$f":"-PMT($D$14,A20,$D$12)","v":102999.99999999999},{"$f":"F20","v":0.970873786407767},0.74409391489672516,null,null,null,null,{"$f":"(1-(1+$D$14)^(-K20))","v":0.25590608510327484}]
[2,{"$f":"B20-D20","v":91276.949339484039},{"$f":"B21*$D$14","v":2738.3084801845212},{"$f":"E21-C21","v":8984.7421803314373},{"$f":"E20","v":11723.050660515959},0.94259590913375435,{"$f":"B21*$F21","v":86037.2790456066},{"$f":"C21*$F21","v":2581.118371368198},{"$f":"D21*$F21","v":8468.9812238019022},{"$f":"E21*$F21","v":11050.099595170101},{"$f":"K20-1","v":9},52261.083743842355,{"$f":"M20+F21","v":1.9134696955415214},0.76641673234362695,{"$f":"B21/B20","v":0.91276949339484037},{"$f":"C21/C20","v":0.91276949339484037},{"$f":"D21/D20","v":1.03},{"$f":"C21/E21","v":0.23358326765637313},0.23358326765637305]
[3,82292.207159152604,2468.7662147745782,{"$f":"E22-C22","v":9254.2844457413812},11723.050660515959,0.91514165935315961,75309.027011460872,2259.2708103438263,8468.9812238019022,10728.252034145729,8,35353.036332459793,2.8286113548946812,0.78940923431393573,0.90156614298189663,0.90156614298189663,1.03,0.21059076568606436,0.21059076568606427]
[4,73037.922713411215,2191.1376814023365,9531.912979113622,11723.050660515959,0.888487047915689,64893.248337532983,1946.7974501259894,8468.9812238019022,10415.778673927893,7,26902.704519308245,3.71709840281037,0.81309151134335378,0.8875436111727607,0.8875436111727607,1.03,0.18690848865664625,0.18690848865664622]
[5,63506.009734297593,1905.1802920289276,9817.8703684870306,11723.050660515959,0.86260878438416411,54780.841857991341,1643.4252557397401,8468.9812238019022,10112.406479541643,6,21835.457140057602,4.5797071871945345,0.83748425668365445,0.869493646245728,0.86949364624572789,1.03,0.16251574331634563,0.16251574331634555]
[6,53688.139365810566,1610.6441809743169,10112.406479541642,11723.050660515959,0.83748425668365445,44962.971489504307,1348.8891446851292,8468.9812238019022,9817.8703684870325,5,18459.750045017721,5.4171914438781892,0.86260878438416411,0.84540249954982283,0.84540249954982283,1.03,0.137391215615836,0.13739121561583589]
[7,43575.732886268925,1307.2719865880676,10415.778673927891,11723.050660515959,0.81309151134335378,35431.058510390685,1062.9317553117205,8468.9812238019022,9531.912979113622,4,16050.635375427195,6.2302829552215426,0.888487047915689,0.81164542859942401,0.81164542859942401,1.03,0.1115129520843111,0.111512952084311]
[8,33159.954212341036,994.79862637023098,10728.252034145728,11723.050660515959,0.78940923431393573,26176.774064649304,785.30322193947904,8468.9812238019022,9254.2844457413812,3,14245.638882723917,7.019692189535478,0.91514165935315961,0.76097295480691762,0.76097295480691762,1.03,8.4858340646840433E-2,8.4858340646840391E-2]
[9,22431.702178195308,672.95106534585921,11050.099595170101,11723.050660515959,0.76641673234362695,17192.031884317868,515.76095652953597,8468.981223801904,8984.7421803314392,2,12843.385701810339,7.7861089218791051,0.94259590913375435,0.67646963667540205,0.67646963667540205,1.03,5.7404090866245649E-2,5.7404090866245649E-2]
[10,11381.602583025207,341.44807749075619,11381.602583025202,11723.050660515959,0.74409391489672516,8468.9812238019058,254.06943671405716,8468.9812238019022,8723.050660515959,1,11723.050660515959,8.53020283677583,0.970873786407767,0.5073891625615764,0.5073891625615764,1.0299999999999998,2.9126213592233018E-2,2.9126213592232997E-2]
[11,null,null,null,null,0.72242127659876232,null,null,null,0]
["TOTAL",{"$f":"SUM(B20:B30)","v":574350.2201719865},{"$f":"SUM(C20:C30)","v":17230.506605159597},{"$f":"SUM(D20:D30)","v":100000},{"$f":"SUM(E20:E30)","v":117230.50660515959},{"$f":"SUM(F20:F29)","v":8.53020283677583},{"$f":"SUM(G20:G30)","v":510339.59206603258},15310.187761980973,84689.812238019033,100000]
[null,null,null,null,null,null,null,null,{"$f":"E31*F30","v":84689.812238019033},{"$f":"forme(I32)","v":"=E31*F30"}]
[]
[null,"a","1-(1+rate)^(-n)",null,{"$f":"1-(1+D14)^(-D13)","v":0.25590608510327484},{"$f":"forme(E34)","v":"=1-(1+D14)^(-D13)"}]
[null,null,"Tx An",null,{"$f":"D14*F31","v":0.25590608510327489},{"$f":"forme(E35)","v":"=D14*F31"}]
[null,null,"(1-Dn)",null,{"$f":"(1-F29)","v":0.25590608510327484},{"$f":"forme(E36)","v":"=(1-F29)"}]
[null,"b","(1+rate)^(n)-1",null,{"$f":"(1+D14)^(D13)-1","v":0.34391637934412178},{"$f":"forme(E37)","v":"=(1+D14)^(D13)-1"}]
[]
[]
[null,"FIRST FUNDAMENTAL FORM"]
[null,"annuity","A = C t / a",null,{"$f":"D12*D14/E34","v":11723.050660515963},{"$f":"forme(E41)","v":"=D12*D14/E34"}]
[null,"SECOND FUNDAMENTAL FORM"]
[null,"Cost of Loan = Cost for the Bank",null,null,{"$f":"J31-I31","v":15310.187761980967},{"$f":"forme(E43)","v":"=J31-I31"}]
[null,"THIRD FUNDAMENTAL FORM"]
[null,"Rate","(1-Dn)/An",null,{"$f":"(1-F29)/F31","v":2.9999999999999992E-2},{"$f":"forme(E45)","v":"=(1-F29)/F31"}]
[null,"Rate","npv(oc)/npv(i)",null,{"$f":"H31/G31","v":2.9999999999999992E-2},{"$f":"forme(E46)","v":"=H31/G31"}]

{"sheet":"LOAN2","index":6,"n_rows":200,"n_cols":10,"rows_kept":200,"cut":false,"hidden":false,"merged":[]}
["LOANS CALCULUS"]
[]
[1,"CONSTANT ANNUITY"]
[null,null,"Loan of 100 000 usd over 10 years"]
[null,null,"Calculate annual and monthly payment, term expired and term due"]
[null,null,"Calculate total interest and total repayment"]
[null,null,"Calculate the cost of the loan"]
[]
[null," ","annual",null,null,"monthly"]
[null,"Rate",0.03,{"$f":"C10","v":0.03},null,{"$f":"D10/12","v":2.5000000000000001E-3},{"$f":"F10","v":2.5000000000000001E-3}]
[null,"Number of Periods",10,{"$f":"C11","v":10},null,{"$f":"D11*12","v":120},{"$f":"F11","v":120}]
[null,"Capital",100000,100000,null,100000,100000]
[null,"Type",0,1,null,0,1]
[]
[null,"ECHEANCE",{"$f":"PMT(C10,C11,C12,C13)","v":-11723.050660515959},{"$f":"PMT(D10,D11,D12,D13)","v":-11723.137891022563},null,{"$f":"PMT(F10,F11,F12,F13)","v":-965.60744698389522},{"$f":"PMT(G10,G11,G12,G13)","v":-965.61460305836499}]
[]
[null,"Total repayment",{"$f":"C15*C11","v":-117230.50660515959},{"$f":"D15*D11","v":-117231.37891022563},null,{"$f":"F15*F11","v":-115872.89363806743},{"$f":"G15*G11","v":-115873.75236700379}]
[null,"Interest",{"$f":"C17+C12","v":-17230.506605159593},{"$f":"D17+D12","v":-17231.378910225627},null,{"$f":"F17+F12","v":-15872.893638067428},{"$f":"G17+G12","v":-15873.752367003792}]
[null,"DF n+1",{"$f":"POWER(1+C10,-(1+C11))","v":0.72242127659876232},{"$f":"POWER(1+D10,-(1+D11))","v":0.72242127659876232},null,{"$f":"POWER(1+F10,-(1+F11))","v":0.73924749854524041},{"$f":"POWER(1+G10,-(1+G11))","v":0.73924749854524041}]
[null,"Cost of Loan",{"$f":"C12+C17*C19","v":15310.187761980967},{"$f":"D12+D17*D19","v":15309.557590241588},null,{"$f":"F12+F17*F19","v":14341.253228859947},14340.618415641817]
[]
[2,"SCHEDULE"]
[null,null,"Rate",{"$f":"C10","v":0.03}]
[null,null,"Years",{"$f":"+C11","v":10}]
[null,null,"Capital",{"$f":"+C12","v":100000}]
[]
[null,"TABLE IN CURRENT CURRENCY",null,null,null,null,"TABLE IN CONSTANT CURRENCY"]
[null,"OC","INTEREST","CAPITAL","ANNUITY","DF","OC","INTEREST","CAPITAL","ANNUITY"]
[1,{"$f":"+D25","v":100000},{"$f":"B29*$D$23","v":3000},{"$f":"E29-C29","v":8723.050660515959},{"$f":"-C15","v":11723.050660515959},{"$f":"POWER(1+$D$23,-A29)","v":0.970873786407767},{"$f":"B29*$F29","v":97087.378640776704},{"$f":"C29*$F29","v":2912.6213592233012},{"$f":"D29*$F29","v":8468.9812238019022},{"$f":"E29*$F29","v":11381.602583025204}]
[2,{"$f":"B29-D29","v":91276.949339484039},{"$f":"B30*$D$23","v":2738.3084801845212},{"$f":"E30-C30","v":8984.7421803314373},{"$f":"E29","v":11723.050660515959},0.94259590913375435,86037.2790456066,2581.118371368198,8468.9812238019022,11050.099595170101]
[3,{"$f":"B30-D30","v":82292.207159152604},2468.7662147745782,9254.2844457413812,{"$f":"E30","v":11723.050660515959},0.91514165935315961,75309.027011460872,2259.2708103438263,8468.9812238019022,10728.252034145729]
[4,73037.922713411215,2191.1376814023365,9531.912979113622,11723.050660515959,0.888487047915689,64893.248337532983,1946.7974501259894,8468.9812238019022,10415.778673927893]
[5,63506.009734297593,1905.1802920289276,9817.8703684870306,11723.050660515959,0.86260878438416411,54780.841857991341,1643.4252557397401,8468.9812238019022,10112.406479541643]
[6,53688.139365810566,1610.6441809743169,10112.406479541642,11723.050660515959,0.83748425668365445,44962.971489504307,1348.8891446851292,8468.9812238019022,9817.8703684870325]
[7,43575.732886268925,1307.2719865880676,10415.778673927891,11723.050660515959,0.81309151134335378,35431.058510390685,1062.9317553117205,8468.9812238019022,9531.912979113622]
[8,33159.954212341036,994.79862637023098,10728.252034145728,11723.050660515959,0.78940923431393573,26176.774064649304,785.30322193947904,8468.9812238019022,9254.2844457413812]
[9,22431.702178195308,672.95106534585921,11050.099595170101,11723.050660515959,0.76641673234362695,17192.031884317868,515.76095652953597,8468.981223801904,8984.7421803314392]
[10,11381.602583025207,341.44807749075619,11381.602583025202,11723.050660515959,0.74409391489672516,8468.9812238019058,254.06943671405716,8468.9812238019022,8723.050660515959]
[11,0,null,null,null,0.72242127659876232,{"$f":"G38-I38","v":0}]
[null,"TOTAL",{"$f":"SUM(C29:C38)","v":17230.506605159597},{"$f":"SUM(D29:D38)","v":100000},117230.50660515959,{"$f":"SUM(F29:F38)","v":8.53020283677583},{"$f":"SUM(G29:G38)","v":510339.59206603258},{"$f":"SUM(H29:H38)","v":15310.187761980973},{"$f":"SUM(I29:I38)","v":84689.812238019033},{"$f":"SUM(J29:J38)","v":100000}]
[null,null,null,null,null,null,"COST",{"$f":"D40-E40*F39","v":15310.187761980967},{"$f":"forme(H41)","v":"=D40-E40*F39"}]
[null,null,"Controls with NPV",null,null,null,"COST",{"$f":"G40*D23","v":15310.187761980977},{"$f":"forme(H42)","v":"=G40*D23"}]
[null,null,"NPV",{"$f":"NPV(D23,E29:E38)","v":99999.999999999985},{"$f":"forme(D43)","v":"=NPV(D23,E29:E38)"}]
[null,null,"PV",{"$f":"PV(D23,D24,-E29)","v":99999.999999999971},{"$f":"forme(D44)","v":"=PV(D23,D24,-E29)"}]
[]
[3,"SCHEDULE WITH CONSTANT AMORTIZATION"]
[null,null,"Rate",0.03]
[null,null,"Years",10]
[null,null,"Period","annual"]
[null,null,"Capital",100000]
[]
[null,"OC","INTEREST","CAPITAL","ANNUITY",null,"DF","INT DF"]
[1,{"$f":"D50","v":100000},{"$f":"B53*$D$47","v":3000},{"$f":"B53/D48","v":10000},{"$f":"C53+D53","v":13000},null,{"$f":"POWER(1+$D$23,-A53)","v":0.970873786407767},{"$f":"G53*C53","v":2912.6213592233012}]
[2,{"$f":"B53-D53","v":90000},2700,{"$f":"D53","v":10000},{"$f":"C54+D54","v":12700},null,{"$f":"POWER(1+$D$23,-A54)","v":0.94259590913375435},{"$f":"G54*C54","v":2545.0089546611366}]
[3,{"$f":"B54-D54","v":80000},2400,{"$f":"D54","v":10000},12400,null,0.91514165935315961,2196.3399824475832]
[4,70000,2100,10000,12100,null,0.888487047915689,1865.8228006229469]
[5,60000,1800,10000,11800,null,0.86260878438416411,1552.6958118914954]
[6,50000,1500,10000,11500,null,0.83748425668365445,1256.2263850254817]
[7,40000,1200,10000,11200,null,0.81309151134335378,975.7098136120245]
[8,30000,900,10000,10900,null,0.78940923431393573,710.46831088254214]
[9,20000,600,10000,10600,null,0.76641673234362695,459.85003940617617]
[10,10000,300,10000,10300,null,0.74409391489672516,223.22817446901755]
[null,0]
[null,"TOTAL",{"$f":"SUM(C53:C62)","v":16500},100000,116500,null,{"$f":"SUM(G53:G62)","v":8.53020283677583},14697.971632241706]
[]
[null,null,"Controls with NPV"]
[null,null,"NPV",{"$f":"NPV(D47,E53:E62)","v":100000},{"$f":"forme(D67)","v":"=NPV(D47,E53:E62)"}]
[null,null,null,{"$f":"SUMPRODUCT(E53:E62,G53:G62)","v":100000},{"$f":"forme(D68)","v":"=SUMPRODUCT(E53:E62,G53:G62)"}]
[null,null,"COST",{"$f":"NPV(D47,C53:C62)","v":14697.971632241704},{"$f":"forme(D69)","v":"=NPV(D47,C53:C62)"}]
[]
[4,"DIFFERED PAYMENT"]
[null,null,"Loan over 10 years, with the 4 first years without payment"]
[null,null,"Rate",0.03]
[]
[null,null,null,null,{"$f":"PMT(D73,A86-A80,B81)","v":-20776.611306065341},{"$f":"forme(E75)","v":"=PMT(D73,A86-A80,B81)"}]
[null,"OC","INTEREST","CAPITAL","ANNUITY"]
[1,100000,{"$f":"B77*$D$73","v":3000},{"$f":"E77-C77","v":-3000},0]
[2,{"$f":"B77-D77","v":103000},{"$f":"B78*$D$73","v":3090},{"$f":"E78-C78","v":-3090},{"$f":"E77","v":0}]
[3,{"$f":"B78-D78","v":106090},3182.7,-3182.7,{"$f":"E78","v":0}]
[4,109272.7,3278.1809999999996,-3278.1809999999996,0]
[5,112550.88099999999,3376.5264299999999,17400.084876065339,{"$f":"-E75","v":20776.611306065341}]
[6,95150.796123934648,2854.5238837180395,17922.0874223473,{"$f":"E81","v":20776.611306065341}]
[7,77228.70870158734,2316.8612610476202,18459.750045017721,{"$f":"E82","v":20776.611306065341}]
[8,58768.958656569623,1763.0687596970886,19013.542546368251,20776.611306065341]
[9,39755.416110201375,1192.6624833060412,19583.948822759299,20776.611306065341]
[10,20171.467287442076,605.14401862326224,20171.467287442079,20776.611306065341]
[null,0," "]
[" "]
[5,"DIFFERED PAYMENT"]
[null,null,"Loan over 10 years, with the 4 first years payment of interest only"]
[]
[null,null,"Rate",0.03]
[]
[null,null,null,null,{"$f":"PMT(D92,A105-A99,B100)","v":-18459.750045017721}]
[null,"OC","INTEREST","CAPITAL","ANNUITY"]
[1,100000,{"$f":"B96*$D$73","v":3000},{"$f":"E96-C96","v":0},{"$f":"C96","v":3000}]
[2,{"$f":"B96-D96","v":100000},{"$f":"B97*$D$73","v":3000},{"$f":"E97-C97","v":0},{"$f":"C97","v":3000}]
[3,{"$f":"B97-D97","v":100000},3000,0,3000]
[4,100000,3000,0,3000]
[5,100000,3000,15459.750045017721,{"$f":"-E94","v":18459.750045017721}]
[6,84540.249954982282,2536.2074986494686,15923.542546368253,{"$f":"E100","v":18459.750045017721}]
[7,68616.707408614035,2058.501222258421,16401.248822759298,{"$f":"E101","v":18459.750045017721}]
[8,52215.458585854736,1566.4637575756419,16893.286287442079,18459.750045017721]
[9,35322.172298412654,1059.6651689523796,17400.084876065343,18459.750045017721]
[10,17922.087422347311,537.6626226704193,17922.0874223473,18459.750045017721]
[null,0," "]
[]
[6,"LOAN WITH INCREASING ANNUITY"]
[null,null,"Loan with quaterly payments increasing of 20% each year"]
[]
[null,null,"Capital",100000]
[null,null,"Years",4,"years"]
[null,null,"Period","quaterly"]
[null,null,"Rate",0.04]
[null,null,"Annual Increase",0.2]
[null,null," "," "," "]
[null,"OC","INTEREST","CAPITAL","INSTALLMENT"]
[1,100000,{"$f":"B118*$D$114/4","v":1000},{"$f":"E118-C118","v":4108.7583624160779},5108.7583624160779]
[2,{"$f":"B118-D118","v":95891.241637583924},958.91241637583926,{"$f":"E119-C119","v":4149.8459460402391},{"$f":"E118","v":5108.7583624160779}]
[3,{"$f":"B119-D119","v":91741.395691543687},917.41395691543687,4191.3444055006412,{"$f":"E119","v":5108.7583624160779}]
[4,87550.051286043046,875.50051286043049,4233.2578495556472,5108.7583624160779]
[5,83316.793436487395,833.16793436487399,5297.3421005344198,{"$f":"E121*(1+$D$115)","v":6130.5100348992937}]
[6,78019.451335952981,780.19451335952988,5350.3155215397637,6130.5100348992937]
[7,72669.135814413225,726.69135814413221,5403.8186767551615,6130.5100348992937]
[8,67265.317137658058,672.65317137658064,5457.856863522713,6130.5100348992937]
[9,61807.460274135345,618.07460274135349,6738.5374391377991,{"$f":"E125*(1+$D$115)","v":7356.6120418791525}]
[10,55068.922834997546,550.68922834997545,6805.9228135291769,7356.6120418791525]
[11,48263.000021468368,482.63000021468366,6873.9820416644689,7356.6120418791525]
[12,41389.017979803903,413.89017979803901,6942.7218620811136,7356.6120418791525]
[13,34446.296117722792,344.4629611772279,8483.4714890777559,{"$f":"E129*(1+$D$115)","v":8827.9344502549829}]
[14,25962.824628645038,259.62824628645041,8568.3062039685319,8827.9344502549829]
[15,17394.518424676506,173.94518424676505,8653.9892660082187,8827.9344502549829]
[16,8740.529158668287,87.405291586682878,8740.5291586682997,{"$f":"E132","v":8827.9344502549829}]
[null,0,{"$f":"SUM(C118:C133)","v":9695.259557798001},{"$f":"SUM(D118:D133)","v":100000.00000000003},{"$f":"SUM(E118:E133)","v":109695.25955779801}]
[]
[7,"LOAN WITH MULTIPLE ISSUES"]
[null,null,"Rate",0.03]
[null,"First Solution With Annuity"]
[null,"Flows","OC","INTEREST","CAPITAL","ANNUITY"]
[10,100000,{"$f":"B140","v":100000},{"$f":"C140*$D$137","v":3000},{"$f":"F140-D140","v":8723.050660515959},{"$f":"-PMT($D$137,A140,C140)","v":11723.050660515959},{"$f":"forme(F140)","v":"=-PMT($D$137,A140,C140)"}]
[9,50000,{"$f":"C140+B141-E140","v":141276.94933948404},4238.3084801845207,{"$f":"F141-D141","v":13906.435031236611},18144.743511421133,{"$f":"forme(F141)","v":"=-PMT($D$137,A141,C141)"}]
[8,20000,{"$f":"C141+B142-E141","v":147370.51430824742},4421.115429247423,16572.755858718487,20993.871287965911,"=-PMT($D$137,A142,C142)"]
[7,10000,140797.75844952895,4223.9327534858685,18375.002072022759,22598.934825508626,"=-PMT($D$137,A143,C143)"]
[6,null,122422.75637750619,3672.6826913251853,18926.252134183444,22598.93482550863,"=-PMT($D$137,A144,C144)"]
[5,null,103496.50424332274,3104.8951272996819,19494.039698208951,22598.934825508633,"=-PMT($D$137,A145,C145)"]
[4,null,84002.464545113791,2520.0739363534135,20078.860889155221,22598.934825508633,"=-PMT($D$137,A146,C146)"]
[3,null,63923.60365595857,1917.708109678757,20681.226715829878,22598.934825508633,"=-PMT($D$137,A147,C147)"]
[2,null,43242.376940128692,1297.2713082038606,21301.663517304773,22598.934825508633,"=-PMT($D$137,A148,C148)"]
[1,null,21940.713422823919,658.22140268471753,21940.713422823916,22598.934825508633,"=-PMT($D$137,A149,C149)"]
[0,null,0]
[null,null,"TOTAL",{"$f":"SUM(D140:D149)","v":29054.209238463427},{"$f":"SUM(E140:E149)","v":180000},209054.2092384634]
[null,"Second Solution With Capital"]
[null,"Flows","OC","INTEREST","CAPITAL","ANNUITY"]
[10,100000,{"$f":"B154","v":100000},{"$f":"C154*$D$137","v":3000},{"$f":"(C154*$D$137)/((1+$D$137)^A154-1)","v":8723.0506605159626},{"$f":"D154+E154","v":11723.050660515963},{"$f":"forme(E154)","v":"=(C154*$D$137)/((1+$D$137)^A154-1)"}]
[9,50000,{"$f":"C154+B155-E154","v":141276.94933948404},4238.3084801845207,{"$f":"(C155*$D$137)/((1+$D$137)^A155-1)","v":13906.435031236611},{"$f":"D155+E155","v":18144.743511421133},{"$f":"forme(E155)","v":"=(C155*$D$137)/((1+$D$137)^A155-1)"}]
[8,20000,{"$f":"C155+B156-E155","v":147370.51430824742},4421.115429247423,16572.755858718501,20993.871287965925,"=(C156*$D$137)/((1+$D$137)^A156-1)"]
[7,10000,140797.75844952892,4223.9327534858676,18375.002072022762,22598.93482550863,"=(C157*$D$137)/((1+$D$137)^A157-1)"]
[6,null,122422.75637750616,3672.6826913251848,18926.252134183454,22598.934825508641,"=(C158*$D$137)/((1+$D$137)^A158-1)"]
[5,null,103496.50424332271,3104.895127299681,19494.039698208962,22598.934825508644,"=(C159*$D$137)/((1+$D$137)^A159-1)"]
[4,null,84002.464545113748,2520.0739363534121,20078.860889155221,22598.934825508633,"=(C160*$D$137)/((1+$D$137)^A160-1)"]
[3,null,63923.603655958526,1917.7081096787558,20681.226715829864,22598.934825508619,"=(C161*$D$137)/((1+$D$137)^A161-1)"]
[2,null,43242.376940128663,1297.2713082038599,21301.663517304776,22598.934825508637,"=(C162*$D$137)/((1+$D$137)^A162-1)"]
[1,null,21940.713422823887,658.22140268471662,21940.713422823868,22598.934825508586,"=(C163*$D$137)/((1+$D$137)^A163-1)"]
[0,null,0]
[null,null,"TOTAL",{"$f":"SUM(D154:D163)","v":29054.209238463423},{"$f":"SUM(E154:E163)","v":180000},209054.2092384634]
[]
[8,"Table Single Entry: Rate"]
[null,null,"Capital",100000]
[null,null,"Years",5]
[null,null,"Period","annual"]
[null,null,"Rate",0.04]
[]
[null,null,"Payment","Sum of Interest","Cost"]
[null,null,{"$f":"-PMT(D171,D169,D168)","v":22462.711349303394},{"$f":"C174*D169-D168","v":12313.556746516973},{"$f":"D168-D169*C174/(1+D171)^(D169+1)","v":11236.964666810629}]
[null,0.02,21215.839410432225,6079.197052161122,5804.7087723910663]
[null,{"$f":"B175+0.004","v":2.4E-2},21462.762318005691,7313.8115900284611,6920.1058691128128]
[null,{"$f":"B176+0.004","v":2.8000000000000001E-2},21710.918770962435,8554.5938548121776,8020.8230984317343]
[null,3.2000000000000001E-2,21960.30096969138,9801.5048484568979,9107.0689452936931]
[null,3.6000000000000004E-2,22210.901102897365,11054.505514486824,10179.048731190327]
[null,4.0000000000000008E-2,22462.711349303398,12313.556746516988,11236.964666810614]
[null,4.4000000000000011E-2,22715.723879318073,13578.619396590366,12281.015903649095]
[null,4.8000000000000015E-2,22969.930856668645,14849.654283343232,13311.398584596202]
[null,5.2000000000000018E-2,23225.324439999549,16126.622199997742,14328.305893538287]
[]
[9,"Table with Double Entry: rate and duration"]
[null,null,"Capital",100000]
[null,null,"Period","annual"]
[null,null,"Rate",0.04]
[null,null,"Years",3,"years"]
[]
[null,{"$f":"-PMT(D188,D189,D186)","v":36034.853921066118},1,2,3,4,5]
[null,{"$f":"B175","v":0.02},102000,51504.95049504951,34675.467259181802,26262.375267128755,21215.839410432225]
[null,{"$f":"B176","v":2.4E-2},102400.00000000001,51807.114624505935,34945.980961902977,26517.7845608393,21462.762318005691]
[null,2.8000000000000001E-2,102800.00000000001,52109.66469428008,35217.180587036244,26774.158051735179,21710.918770962435]
[null,3.2000000000000001E-2,103200,52412.598425196848,35489.06201566408,27031.489815710062,21960.30096969138]
[null,3.6000000000000004E-2,103599.99999999999,52715.913555992134,35761.621151540414,27289.773942549513,22210.901102897365]
[null,4.0000000000000008E-2,104000,53019.607843137252,36034.853921066118,27549.004536480235,22462.711349303398]
[null,4.4000000000000011E-2,104400,53323.679060665367,36308.75627326149,27809.175716703943,22715.723879318073]
[null,4.8000000000000015E-2,104800,53628.125,36583.324179735966,28070.281617916185,22969.930856668645]
[null,5.2000000000000018E-2,105200,53932.943469785576,36858.553634655233,28332.316390810276,23225.324439999549]

{"sheet":"LOAN2 EX","index":7,"n_rows":200,"n_cols":10,"rows_kept":200,"cut":false,"hidden":false,"merged":[]}
["LOANS CALCULUS EX"]
[]
[1,"CONSTANT ANNUITY"]
[null,null,"Loan of 100 000 usd over 10 years"]
[null,null,"Calculate annual and monthly payment, term expired and term due"]
[null,null,"Calculate total interest and total repayment"]
[null,null,"Calculate the cost of the loan"]
[]
[null," ","annual",null,null,"monthly"]
[null,"Rate",0.03,{"$f":"C10","v":0.03},null,{"$f":"D10/12","v":2.5000000000000001E-3},{"$f":"F10","v":2.5000000000000001E-3}]
[null,"Number of Periods",10,{"$f":"C11","v":10},null,{"$f":"D11*12","v":120},{"$f":"F11","v":120}]
[null,"Capital",100000,100000,null,100000,100000]
[null,"Type",0,1,null,0,1]
[]
[null,"ECHEANCE",{"$f":"PMT(C10,C11,C12,C13)","v":-11723.050660515959},{"$f":"PMT(D10,D11,D12,D13)","v":-11723.137891022563},null,{"$f":"PMT(F10,F11,F12,F13)","v":-965.60744698389522},{"$f":"PMT(G10,G11,G12,G13)","v":-965.61460305836499}]
[]
[null,"Total repayment",{"$f":"C15*C11","v":-117230.50660515959},{"$f":"D15*D11","v":-117231.37891022563},null,{"$f":"F15*F11","v":-115872.89363806743},{"$f":"G15*G11","v":-115873.75236700379}]
[null,"Interest",{"$f":"C17+C12","v":-17230.506605159593},{"$f":"D17+D12","v":-17231.378910225627},null,{"$f":"F17+F12","v":-15872.893638067428},{"$f":"G17+G12","v":-15873.752367003792}]
[null,"DF n+1",{"$f":"POWER(1+C10,-(1+C11))","v":0.72242127659876232},{"$f":"POWER(1+D10,-(1+D11))","v":0.72242127659876232},null,{"$f":"POWER(1+F10,-(1+F11))","v":0.73924749854524041},{"$f":"POWER(1+G10,-(1+G11))","v":0.73924749854524041}]
[null,"Cost of Loan",{"$f":"C12+C17*C19","v":15310.187761980967},{"$f":"D12+D17*D19","v":15309.557590241588},null,{"$f":"F12+F17*F19","v":14341.253228859947},14340.618415641817]
[]
[2,"SCHEDULE"]
[null,null,"Rate",{"$f":"C10","v":0.03}]
[null,null,"Years",{"$f":"+C11","v":10}]
[null,null,"Capital",{"$f":"+C12","v":100000}]
[]
[null,"TABLE IN CURRENT CURRENCY",null,null,null,null,"TABLE IN CONSTANT CURRENCY"]
[null,"OC","INTEREST","CAPITAL","ANNUITY","DF","OC","INTEREST","CAPITAL","ANNUITY"]
[1,{"$f":"+D25","v":100000},{"$f":"B29*$D$23","v":3000},{"$f":"E29-C29","v":8723.050660515959},{"$f":"-C15","v":11723.050660515959},{"$f":"POWER(1+$D$23,-A29)","v":0.970873786407767},{"$f":"B29*$F29","v":97087.378640776704},2912.6213592233012,8468.9812238019022,11381.602583025204]
[2,{"$f":"B29-D29","v":91276.949339484039},{"$f":"B30*$D$23","v":2738.3084801845212},{"$f":"E30-C30","v":8984.7421803314373},{"$f":"E29","v":11723.050660515959},0.94259590913375435,86037.2790456066,2581.118371368198,8468.9812238019022,11050.099595170101]
[3,{"$f":"B30-D30","v":82292.207159152604},2468.7662147745782,9254.2844457413812,{"$f":"E30","v":11723.050660515959},0.91514165935315961,75309.027011460872,2259.2708103438263,8468.9812238019022,10728.252034145729]
[4,73037.922713411215,2191.1376814023365,9531.912979113622,11723.050660515959,0.888487047915689,64893.248337532983,1946.7974501259894,8468.9812238019022,10415.778673927893]
[5,63506.009734297593,1905.1802920289276,9817.8703684870306,11723.050660515959,0.86260878438416411,54780.841857991341,1643.4252557397401,8468.9812238019022,10112.406479541643]
[6,53688.139365810566,1610.6441809743169,10112.406479541642,11723.050660515959,0.83748425668365445,44962.971489504307,1348.8891446851292,8468.9812238019022,9817.8703684870325]
[7,43575.732886268925,1307.2719865880676,10415.778673927891,11723.050660515959,0.81309151134335378,35431.058510390685,1062.9317553117205,8468.9812238019022,9531.912979113622]
[8,33159.954212341036,994.79862637023098,10728.252034145728,11723.050660515959,0.78940923431393573,26176.774064649304,785.30322193947904,8468.9812238019022,9254.2844457413812]
[9,22431.702178195308,672.95106534585921,11050.099595170101,11723.050660515959,0.76641673234362695,17192.031884317868,515.76095652953597,8468.981223801904,8984.7421803314392]
[10,11381.602583025207,341.44807749075619,11381.602583025202,11723.050660515959,0.74409391489672516,8468.9812238019058,254.06943671405716,8468.9812238019022,8723.050660515959]
[11,0,null,null,null,0.72242127659876232,{"$f":"G38-I38","v":0}]
[null,"TOTAL",{"$f":"SUM(C29:C38)","v":17230.506605159597},{"$f":"SUM(D29:D38)","v":100000},117230.50660515959,{"$f":"SUM(F29:F38)","v":8.53020283677583},{"$f":"SUM(G29:G38)","v":510339.59206603258},{"$f":"SUM(H29:H38)","v":15310.187761980973},{"$f":"SUM(I29:I38)","v":84689.812238019033},{"$f":"SUM(J29:J38)","v":100000}]
[null,null,null,null,null,null,"COST",{"$f":"D40-E40*F39","v":15310.187761980967},{"$f":"forme(H41)","v":"=D40-E40*F39"}]
[null,null,"Controls with NPV",null,null,null,"COST",{"$f":"G40*D23","v":15310.187761980977},{"$f":"forme(H42)","v":"=G40*D23"}]
[null,null,"NPV",{"$f":"NPV(D23,E29:E38)","v":99999.999999999985},{"$f":"forme(D43)","v":"=NPV(D23,E29:E38)"}]
[null,null,"PV",{"$f":"PV(D23,D24,-E29)","v":99999.999999999971},{"$f":"forme(D44)","v":"=PV(D23,D24,-E29)"}]
[]
[3,"SCHEDULE WITH CONSTANT AMORTIZATION"]
[null,null,"Rate",0.03]
[null,null,"Years",10]
[null,null,"Period","annual"]
[null,null,"Capital",100000]
[]
[null,"OC","INTEREST","CAPITAL","ANNUITY",null,"DF","INT DF"]
[1,{"$f":"D50","v":100000},{"$f":"$D$47*B53","v":3000},{"$f":"D50/D48","v":10000},{"$f":"C53+D53","v":13000},null,{"$f":"POWER(1+$D$23,-A53)","v":0.970873786407767},{"$f":"G53*C53","v":2912.6213592233012}]
[2,{"$f":"B53-D53","v":90000},{"$f":"$D$47*B54","v":2700},{"$f":"D53","v":10000},{"$f":"C54+D54","v":12700},null,{"$f":"POWER(1+$D$23,-A54)","v":0.94259590913375435},{"$f":"G54*C54","v":2545.0089546611366}]
[3,{"$f":"B54-D54","v":80000},2400,{"$f":"D54","v":10000},12400,null,0.91514165935315961,2196.3399824475832]
[4,70000,2100,10000,12100,null,0.888487047915689,1865.8228006229469]
[5,60000,1800,10000,11800,null,0.86260878438416411,1552.6958118914954]
[6,50000,1500,10000,11500,null,0.83748425668365445,1256.2263850254817]
[7,40000,1200,10000,11200,null,0.81309151134335378,975.7098136120245]
[8,30000,900,10000,10900,null,0.78940923431393573,710.46831088254214]
[9,20000,600,10000,10600,null,0.76641673234362695,459.85003940617617]
[10,10000,300,10000,10300,null,0.74409391489672516,223.22817446901755]
[null,0]
[null,"TOTAL",{"$f":"SUM(C53:C62)","v":16500},100000,116500,null,{"$f":"SUM(G53:G62)","v":8.53020283677583},14697.971632241706]
[]
[null,null,"Controls with NPV"]
[null,null,"NPV",{"$f":"NPV(D47,E53:E62)","v":100000},{"$f":"forme(D67)","v":"=NPV(D47,E53:E62)"}]
[null,null,null,{"$f":"SUMPRODUCT(E53:E62,G53:G62)","v":100000},{"$f":"forme(D68)","v":"=SUMPRODUCT(E53:E62,G53:G62)"}]
[null,null,"COST",{"$f":"NPV(D47,C53:C62)","v":14697.971632241704},{"$f":"forme(D69)","v":"=NPV(D47,C53:C62)"}]
[]
[4,"DIFFERED PAYMENT"]
[null,null,"Loan over 10 years, with the 4 first years without payment"]
[null,null,"Rate",0.03]
[]
[null,null,null,null,{"$f":"PMT(D73,A86-A80,B81)","v":-20776.611306065341},{"$f":"forme(E75)","v":"=PMT(D73,A86-A80,B81)"}]
[null,"OC","INTEREST","CAPITAL","ANNUITY"]
[1,100000,{"$f":"B77*$D$73","v":3000},{"$f":"E77-C77","v":-3000},0]
[2,{"$f":"B77-D77","v":103000},{"$f":"B78*$D$73","v":3090},{"$f":"E78-C78","v":-3090},{"$f":"E77","v":0}]
[3,{"$f":"B78-D78","v":106090},3182.7,-3182.7,{"$f":"E78","v":0}]
[4,109272.7,3278.1809999999996,-3278.1809999999996,0]
[5,112550.88099999999,3376.5264299999999,17400.084876065339,{"$f":"-$E$75","v":20776.611306065341}]
[6,95150.796123934648,2854.5238837180395,17922.0874223473,{"$f":"-$E$75","v":20776.611306065341}]
[7,77228.70870158734,2316.8612610476202,18459.750045017721,20776.611306065341]
[8,58768.958656569623,1763.0687596970886,19013.542546368251,20776.611306065341]
[9,39755.416110201375,1192.6624833060412,19583.948822759299,20776.611306065341]
[10,20171.467287442076,605.14401862326224,20171.467287442079,20776.611306065341]
[null,0," "]
[" "]
[5,"DIFFERED PAYMENT"]
[null,null,"Loan over 10 years, with the 4 first years payment of interest only"]
[]
[null,null,"Rate",0.03]
[]
[null,null,null,null,{"$f":"PMT(D92,A105-A99,B100)","v":-18459.750045017721},{"$f":"forme(E94)","v":"=PMT(D92,A105-A99,B100)"}]
[null,"OC","INTEREST","CAPITAL","ANNUITY"]
[1,100000,{"$f":"B96*$D$73","v":3000},{"$f":"E96-C96","v":0},{"$f":"C96","v":3000}]
[2,{"$f":"B96-D96","v":100000},{"$f":"B97*$D$73","v":3000},{"$f":"E97-C97","v":0},{"$f":"C97","v":3000}]
[3,{"$f":"B97-D97","v":100000},3000,0,3000]
[4,100000,3000,0,3000]
[5,100000,3000,15459.750045017721,{"$f":"-E94","v":18459.750045017721}]
[6,84540.249954982282,2536.2074986494686,15923.542546368253,{"$f":"E100","v":18459.750045017721}]
[7,68616.707408614035,2058.501222258421,16401.248822759298,{"$f":"E101","v":18459.750045017721}]
[8,52215.458585854736,1566.4637575756419,16893.286287442079,18459.750045017721]
[9,35322.172298412654,1059.6651689523796,17400.084876065343,18459.750045017721]
[10,17922.087422347311,537.6626226704193,17922.0874223473,18459.750045017721]
[null,0," "]
[]
[6,"LOAN WITH INCREASING ANNUITY"]
[null,null,"Loan with quaterly payments increasing of 20% each year"]
[]
[null,null,"Capital",100000]
[null,null,"Years",4,"years"]
[null,null,"Period","quaterly"]
[null,null,"Rate",0.04]
[null,null,"Annual Increase",0.2]
[null,null," "," "," "]
[null,"OC","INTEREST","CAPITAL","INSTALLMENT"]
[1,{"$f":"D111","v":100000},{"$f":"B118*$D$114/4","v":1000},{"$f":"E118-C118","v":4108.758362416077},5108.758362416077]
[2,{"$f":"B118-D118","v":95891.241637583924},{"$f":"B119*$D$114/4","v":958.91241637583926},{"$f":"E119-C119","v":4149.8459460402373},{"$f":"+E118","v":5108.758362416077}]
[3,{"$f":"B119-D119","v":91741.395691543687},917.41395691543687,4191.3444055006403,{"$f":"+E119","v":5108.758362416077}]
[4,87550.051286043046,875.50051286043049,4233.2578495556463,5108.758362416077]
[5,83316.793436487395,833.16793436487399,5297.342100534418,{"$f":"E121*(1+$D$115)","v":6130.5100348992919}]
[6,78019.451335952981,780.19451335952988,5350.3155215397619,{"$f":"E122","v":6130.5100348992919}]
[7,72669.135814413225,726.69135814413221,5403.8186767551597,{"$f":"E123","v":6130.5100348992919}]
[8,67265.317137658072,672.65317137658076,5457.8568635227111,{"$f":"E124","v":6130.5100348992919}]
[9,61807.460274135359,618.0746027413536,6738.5374391377964,{"$f":"E125*(1+$D$115)","v":7356.6120418791497}]
[10,55068.92283499756,550.68922834997556,6805.9228135291742,{"$f":"E126","v":7356.6120418791497}]
[11,48263.000021468382,482.63000021468383,6873.9820416644661,{"$f":"E127","v":7356.6120418791497}]
[12,41389.017979803917,413.89017979803918,6942.7218620811109,{"$f":"E128","v":7356.6120418791497}]
[13,34446.296117722806,344.46296117722807,8483.4714890777504,{"$f":"E129*(1+$D$115)","v":8827.9344502549793}]
[14,25962.824628645056,259.62824628645058,8568.3062039685283,{"$f":"E130","v":8827.9344502549793}]
[15,17394.518424676528,173.94518424676528,8653.9892660082132,{"$f":"E131","v":8827.9344502549793}]
[16,8740.5291586683143,87.405291586683148,8740.5291586682961,{"$f":"E132","v":8827.9344502549793}]
[null,1.8189894035458565E-11,{"$f":"SUM(C118:C133)","v":9695.2595577980046},{"$f":"SUM(D118:D133)","v":99999.999999999985},{"$f":"SUM(E118:E133)","v":109695.259557798}]
[]
[7,"LOAN WITH MULTIPLE ISSUES"]
[null,null,"Rate",0.03]
[null,"First Solution With Annuity"]
[null,"Flows","OC","INTEREST","CAPITAL","ANNUITY"]
[10,100000,{"$f":"B140","v":100000},{"$f":"C140*$D$137","v":3000},{"$f":"F140-D140","v":2000},5000,{"$f":"forme(F140)","v":"5000"}]
[9,50000,{"$f":"C140-E140+B141","v":148000},{"$f":"C141*$D$137","v":4440},{"$f":"F141-D141","v":-4440},null,{"$f":"forme(F141)","v":""}]
[8,20000,{"$f":"C141-E141+B142","v":172440},5173.2,-5173.2,null,""]
[7,10000,187613.2,5628.3959999999997,-5628.3959999999997,null,""]
[6,null,193241.59600000002,5797.2478800000008,-5797.2478800000008,null,""]
[5,null,199038.84388000003,5971.1653164000008,-5971.1653164000008,null,""]
[4,null,205010.00919640003,6150.3002758920011,-6150.3002758920011,null,""]
[3,null,211160.30947229202,6334.8092841687603,-6334.8092841687603,null,""]
[2,null,217495.11875646078,6524.8535626938228,-6524.8535626938228,null,""]
[1,null,224019.97231915459,6720.5991695746379,-6720.5991695746379,null,""]
[0,null,230740.57148872924]
[null,null,"TOTAL",{"$f":"SUM(D140:D149)","v":55740.571488729227},{"$f":"SUM(E140:E149)","v":-50740.571488729227},5000]
[null,"Second Solution With Capital"]
[null,"Flows","OC","INTEREST","CAPITAL","ANNUITY"]
[10,100000,{"$f":"B154","v":100000},null,null,null,{"$f":"forme(E154)","v":""}]
[9,50000,null,null,null,null,{"$f":"forme(E155)","v":""}]
[8,20000,null,null,null,null,""]
[7,10000,null,null,null,null,""]
[6,null,null,null,null,null,""]
[5,null,null,null,null,null,""]
[4,null,null,null,null,null,""]
[3,null,null,null,null,null,""]
[2,null,null,null,null,null,""]
[1,null,null,null,null,null,""]
[0]
[null,null,"TOTAL",{"$f":"SUM(D154:D163)","v":0},{"$f":"SUM(E154:E163)","v":0},0]
[]
[8,"Table Single Entry: Rate"]
[null,null,"Capital",100000]
[null,null,"Years",5]
[null,null,"Period","annual"]
[null,null,"Rate",0.04]
[]
[null,null,"Payment","Sum of Interest","Cost"]
[null,null,{"$f":"-PMT(D171,D169,D168)","v":22462.711349303394},{"$f":"C174*D169-D168","v":12313.556746516973},{"$f":"D168-D169*C174/(1+D171)^(D169+1)","v":11236.964666810629}]
[null,0.02,21215.839410432225,6079.197052161122,5804.7087723910663]
[null,{"$f":"B175+0.004","v":2.4E-2},21462.762318005691,7313.8115900284611,6920.1058691128128]
[null,{"$f":"B176+0.004","v":2.8000000000000001E-2},21710.918770962435,8554.5938548121776,8020.8230984317343]
[null,3.2000000000000001E-2,21960.30096969138,9801.5048484568979,9107.0689452936931]
[null,3.6000000000000004E-2,22210.901102897365,11054.505514486824,10179.048731190327]
[null,4.0000000000000008E-2,22462.711349303398,12313.556746516988,11236.964666810614]
[null,4.4000000000000011E-2,22715.723879318073,13578.619396590366,12281.015903649095]
[null,4.8000000000000015E-2,22969.930856668645,14849.654283343232,13311.398584596202]
[null,5.2000000000000018E-2,23225.324439999549,16126.622199997742,14328.305893538287]
[]
[9,"Table with Double Entry: rate and duration"]
[null,null,"Capital",100000]
[null,null,"Period","annual"]
[null,null,"Rate",0.04]
[null,null,"Years",3,"years"]
[]
[null,{"$f":"-PMT(D188,D189,D186)","v":36034.853921066118},1,2,3,4,5]
[null,{"$f":"B175","v":0.02},102000,51504.95049504951,34675.467259181802,26262.375267128755,21215.839410432225]
[null,{"$f":"B176","v":2.4E-2},102400.00000000001,51807.114624505935,34945.980961902977,26517.7845608393,21462.762318005691]
[null,2.8000000000000001E-2,102800.00000000001,52109.66469428008,35217.180587036244,26774.158051735179,21710.918770962435]
[null,3.2000000000000001E-2,103200,52412.598425196848,35489.06201566408,27031.489815710062,21960.30096969138]
[null,3.6000000000000004E-2,103599.99999999999,52715.913555992134,35761.621151540414,27289.773942549513,22210.901102897365]
[null,4.0000000000000008E-2,104000,53019.607843137252,36034.853921066118,27549.004536480235,22462.711349303398]
[null,4.4000000000000011E-2,104400,53323.679060665367,36308.75627326149,27809.175716703943,22715.723879318073]
[null,4.8000000000000015E-2,104800,53628.125,36583.324179735966,28070.281617916185,22969.930856668645]
[null,5.2000000000000018E-2,105200,53932.943469785576,36858.553634655233,28332.316390810276,23225.324439999549]

{"sheet":"AMORT","index":8,"n_rows":39,"n_cols":10,"rows_kept":39,"cut":false,"hidden":false,"merged":[]}
[]
[]
["LINEAR","AMORTIZATION WITHOUT ENDING"]
["FLOWS",40000,10000]
["SUM",{"$f":"B4","v":40000},{"$f":"B5+C4","v":50000},50000,50000,50000,50000,50000,50000,{"$f":"forme(I5)","v":"=H5+I4"}]
["BASE",{"$f":"B5-B7","v":32000},{"$f":"B6-C7+C4","v":32000},22000,12000,2000,-8000,-18000,-28000,{"$f":"forme(I6)","v":"=H6-I7+I4"}]
["AMORT",{"$f":"B5/5","v":8000},{"$f":"C5/5","v":10000},{"$f":"D5/5","v":10000},{"$f":"E5/5","v":10000},10000,10000,10000,10000,"=I5/5"]
[null,"AMORTIZATION WITH ENDING"]
["SUM",{"$f":"B15","v":40000},{"$f":"B9+C15","v":50000},50000,50000,50000,50000,50000,50000,{"$f":"forme(I9)","v":"=H9+I15"}]
["BASE",{"$f":"B9-B11","v":32000},{"$f":"B10-C11+C15","v":32000},22000,12000,2000,0,0,0,{"$f":"forme(I10)","v":"=H10-I11+I15"}]
["AMORT",{"$f":"MAX(B9/5,0)","v":8000},{"$f":"MIN(C9/5,B10)","v":10000},{"$f":"MIN(D9/5,C10)","v":10000},10000,10000,2000,0,0,{"$f":"forme(I11)","v":"=MIN(I9/5,H10)"}]
[null,null,null,null,null,null,null,null,null,""]
[null,null,null,null,null,null,null,null,null,{"$f":"forme(I13)","v":""}]
["DEGRESSIV","AMORTIZATION WITHOUT ENDING",null,null,null,null,null,null,null,""]
["FLOWS",40000,10000,null,null,null,null,null,null,""]
["BASE",{"$f":"+B5","v":40000},{"$f":"B16-B17+C4","v":42000},{"$f":"C16-C17+D4","v":33600},{"$f":"D16-D17+E4","v":26880},21504,17203.2,13762.560000000001,11010.048000000001,{"$f":"forme(I16)","v":"=H16-H17+I4"}]
["AMORT",{"$f":"B16/5","v":8000},{"$f":"C16/5","v":8400},{"$f":"D16/5","v":6720},{"$f":"E16/5","v":5376},4300.8,3440.6400000000003,2752.5120000000002,2202.0096000000003,{"$f":"forme(I17)","v":"=I16/5"}]
[null,"AMORTIZATION WITH ENDING",null,null,null,null,null,null,null,""]
["BASE",{"$f":"B9","v":40000},{"$f":"B19-B20+C15","v":42000},33600,26880,21504,17203.2,0,0,"=H19-H20+I15"]
["AMORT",{"$f":"B19/5","v":8000},{"$f":"C19/5","v":8400},{"$f":"D19/5","v":6720},{"$f":"E19/5","v":5376},4300.8,{"$f":"G19","v":17203.2},0,0,{"$f":"forme(G20)","v":"=G19"}]
[null,"CONTROLS"]
["SUM AMORT",{"$f":"B20","v":8000},{"$f":"B22+C20","v":16400},{"$f":"C22+D20","v":23120},28496,32796.800000000003,50000,50000]
["CONTROL",{"$f":"B22+C19","v":50000},{"$f":"C22+D19","v":50000},{"$f":"D22+E19","v":50000},50000,{"$f":"F22+G19","v":50000},{"$f":"G22+H19","v":50000},50000]
[]
[]
["PROJECT","AMORTIZATION",null,0.2,{"$f":"1/D26","v":5}]
["FLOWS",40000,null,null,null,null,null,null,{"$f":"SUM(B27:H27)","v":40000}]
["BASE",{"$f":"B27","v":40000},{"$f":"B28-C29+C27","v":32000},25600,20480,16384,13107.2,0]
["AMORT",null,{"$f":"B28/$E$26","v":8000},{"$f":"C28/$E$26","v":6400},5120,4096,3276.8,{"$f":"G28","v":13107.2},{"$f":"SUM(B29:H29)","v":40000}]
["SUM AMORT",null,{"$f":"C29","v":8000},{"$f":"C30+D29","v":14400},{"$f":"D30+E29","v":19520},23616,26892.799999999999,40000]
["CONTROL",null,{"$f":"C30+C28","v":40000},{"$f":"D30+D28","v":40000},{"$f":"E30+E28","v":40000},40000,40000,40000]
["PROJECT","AMORTIZATION",null,0.25,{"$f":"1/D32","v":4}]
["FLOWS",null,{"$f":"10000*1.03","v":10300},{"$f":"C33*1.03","v":10609},null,null,null,null,{"$f":"SUM(B33:H33)","v":20909}]
["BASE",null,{"$f":"B34-C35+C33","v":10300},18334,13750.5,10312.875,7734.65625,0]
["AMORT",null,{"$f":"B34/$E$32","v":0},{"$f":"C34/$E$32","v":2575},{"$f":"D34/$E$32","v":4583.5},3437.625,2578.21875,{"$f":"G34","v":7734.65625},{"$f":"SUM(B35:H35)","v":20909}]
["SUM AMORT",null,{"$f":"C35","v":0},{"$f":"C36+D35","v":2575},{"$f":"D36+E35","v":7158.5},{"$f":"E36+F35","v":10596.125},{"$f":"F36+G35","v":13174.34375},{"$f":"G36+H35","v":20909}]
["CONTROL",null,{"$f":"C36+C34","v":10300},{"$f":"D36+D34","v":20909},{"$f":"E36+E34","v":20909},{"$f":"F36+F34","v":20909},{"$f":"G36+G34","v":20909},{"$f":"H36+H34","v":20909}]
[]
["AMORT",null,{"$f":"C29+C35","v":8000},{"$f":"D29+D35","v":8975},9703.5,7533.625,5855.0187500000002,20841.856250000001]

{"sheet":"RockyMountain","index":9,"n_rows":41,"n_cols":14,"rows_kept":41,"cut":false,"hidden":false,"merged":[]}
["MINI CASE STUDY"]
[null,null,null,0,1,2,3,4,5,6,7,8,9,10]
[]
["investment",null,null,55]
["investment",null,null,5]
["initial cost",null,null,1]
["working capital",null,null,3]
["revenues-cost",null,null,null,15,15,15,15,15,15,15,15,15,15]
["termination cost",null,null,null,null,null,null,null,null,null,null,null,null,0.5]
["termination sell",null,null,null,null,null,null,null,null,null,null,null,null,5]
[]
["amortization",null,null,null,{"$f":"-D4/10","v":-5.5},{"$f":"E12","v":-5.5},{"$f":"F12","v":-5.5},{"$f":"G12","v":-5.5},{"$f":"H12","v":-5.5},{"$f":"I12","v":-5.5},{"$f":"J12","v":-5.5},{"$f":"K12","v":-5.5},{"$f":"L12","v":-5.5},{"$f":"M12","v":-5.5}]
["amortization",null,null,null,{"$f":"-D5/10","v":-0.5},{"$f":"E13","v":-0.5},{"$f":"F13","v":-0.5},{"$f":"G13","v":-0.5},{"$f":"H13","v":-0.5},{"$f":"I13","v":-0.5},{"$f":"J13","v":-0.5},{"$f":"K13","v":-0.5},{"$f":"L13","v":-0.5},{"$f":"M13","v":-0.5}]
[]
["CASH FLOW STATEMENT"]
["investment",null,null,{"$f":"-D4-D5","v":-60}]
["operation costs",null,null,{"$f":"-D6","v":-1},null,null,null,null,null,null,null,null,null,{"$f":"-N9","v":-0.5}]
["working capital",null,null,{"$f":"-D7","v":-3},0,0,0,0,0,0,0,0,0,{"$f":"-D18","v":3}]
["revenues-costs",null,null,0,{"$f":"E8","v":15},{"$f":"F8","v":15},{"$f":"G8","v":15},{"$f":"H8","v":15},{"$f":"I8","v":15},{"$f":"J8","v":15},{"$f":"K8","v":15},{"$f":"L8","v":15},{"$f":"M8","v":15},{"$f":"N8","v":15}]
["termination sell",null,null,0,0,0,0,0,0,0,0,0,0,{"$f":"N10","v":5}]
["tax",null,null,{"$f":"D28","v":0.4},{"$f":"E28","v":-3.6},{"$f":"F28","v":-3.6},{"$f":"G28","v":-3.6},{"$f":"H28","v":-3.6},{"$f":"I28","v":-3.6},{"$f":"J28","v":-3.6},{"$f":"K28","v":-3.6},{"$f":"L28","v":-3.6},{"$f":"M28","v":-3.6},{"$f":"N28","v":-5.4}]
[null,null,{"$f":"IRR(D22:N22)","v":0.12976487596248654},{"$f":"SUM(D16:D21)","v":-63.6},{"$f":"SUM(E16:E21)","v":11.4},{"$f":"SUM(F16:F21)","v":11.4},{"$f":"SUM(G16:G21)","v":11.4},{"$f":"SUM(H16:H21)","v":11.4},{"$f":"SUM(I16:I21)","v":11.4},{"$f":"SUM(J16:J21)","v":11.4},{"$f":"SUM(K16:K21)","v":11.4},{"$f":"SUM(L16:L21)","v":11.4},{"$f":"SUM(M16:M21)","v":11.4},{"$f":"SUM(N16:N21)","v":17.100000000000001}]
[null,null,null,{"$f":"D22","v":-63.6},{"$f":"D23+E22","v":-52.2},{"$f":"E23+F22","v":-40.800000000000004},{"$f":"F23+G22","v":-29.400000000000006},{"$f":"G23+H22","v":-18.000000000000007},{"$f":"H23+I22","v":-6.6000000000000068},{"$f":"I23+J22","v":4.7999999999999936},{"$f":"J23+K22","v":16.199999999999996},{"$f":"K23+L22","v":27.599999999999994},{"$f":"L23+M22","v":38.999999999999993},{"$f":"M23+N22","v":56.099999999999994}]
["INCOME STATEMENT"]
["revenues-costs",null,null,{"$f":"D19+D20+D17","v":-1},{"$f":"E19+E20+E17","v":15},{"$f":"F19+F20+F17","v":15},{"$f":"G19+G20+G17","v":15},{"$f":"H19+H20+H17","v":15},{"$f":"I19+I20+I17","v":15},{"$f":"J19+J20+J17","v":15},{"$f":"K19+K20+K17","v":15},{"$f":"L19+L20+L17","v":15},{"$f":"M19+M20+M17","v":15},{"$f":"N19+N20+N17","v":19.5}]
["amortization",null,null,{"$f":"D12+D13","v":0},{"$f":"E12+E13","v":-6},{"$f":"F12+F13","v":-6},{"$f":"G12+G13","v":-6},{"$f":"H12+H13","v":-6},{"$f":"I12+I13","v":-6},{"$f":"J12+J13","v":-6},{"$f":"K12+K13","v":-6},{"$f":"L12+L13","v":-6},{"$f":"M12+M13","v":-6},{"$f":"N12+N13","v":-6}]
[null,null,null,{"$f":"D25+D26","v":-1},{"$f":"E25+E26","v":9},{"$f":"F25+F26","v":9},{"$f":"G25+G26","v":9},{"$f":"H25+H26","v":9},{"$f":"I25+I26","v":9},{"$f":"J25+J26","v":9},{"$f":"K25+K26","v":9},{"$f":"L25+L26","v":9},{"$f":"M25+M26","v":9},{"$f":"N25+N26","v":13.5}]
["tax",0.4,null,{"$f":"-D27*$B$28","v":0.4},{"$f":"-E27*$B$28","v":-3.6},{"$f":"-F27*$B$28","v":-3.6},{"$f":"-G27*$B$28","v":-3.6},{"$f":"-H27*$B$28","v":-3.6},{"$f":"-I27*$B$28","v":-3.6},{"$f":"-J27*$B$28","v":-3.6},{"$f":"-K27*$B$28","v":-3.6},{"$f":"-L27*$B$28","v":-3.6},{"$f":"-M27*$B$28","v":-3.6},{"$f":"-N27*$B$28","v":-5.4}]
["profit",null,null,{"$f":"D27+D28","v":-0.6},{"$f":"E27+E28","v":5.4},{"$f":"F27+F28","v":5.4},{"$f":"G27+G28","v":5.4},{"$f":"H27+H28","v":5.4},{"$f":"I27+I28","v":5.4},{"$f":"J27+J28","v":5.4},{"$f":"K27+K28","v":5.4},{"$f":"L27+L28","v":5.4},{"$f":"M27+M28","v":5.4},{"$f":"N27+N28","v":8.1}]
[null,null,null,{"$f":"D29","v":-0.6},{"$f":"D30+E29","v":4.8000000000000007},{"$f":"E30+F29","v":10.200000000000001},{"$f":"F30+G29","v":15.600000000000001},{"$f":"G30+H29","v":21},{"$f":"H30+I29","v":26.4},{"$f":"I30+J29","v":31.799999999999997},{"$f":"J30+K29","v":37.199999999999996},{"$f":"K30+L29","v":42.599999999999994},{"$f":"L30+M29","v":47.999999999999993},{"$f":"M30+N29","v":56.099999999999994}]
["BALANCE SHEET ASSET"]
["fixed assets",null,null,{"$f":"-D16","v":60},{"$f":"D32+E26","v":54},{"$f":"E32+F26","v":48},{"$f":"F32+G26","v":42},{"$f":"G32+H26","v":36},{"$f":"H32+I26","v":30},{"$f":"I32+J26","v":24},{"$f":"J32+K26","v":18},{"$f":"K32+L26","v":12},{"$f":"L32+M26","v":6},{"$f":"M32+N26","v":0}]
["working capital",null,null,{"$f":"-D18","v":3},{"$f":"D33","v":3},{"$f":"E33","v":3},{"$f":"F33","v":3},{"$f":"G33","v":3},{"$f":"H33","v":3},{"$f":"I33","v":3},{"$f":"J33","v":3},{"$f":"K33","v":3},{"$f":"L33","v":3},0]
["cash account",null,null,null,null,null,null,null,null,{"$f":"J23","v":4.7999999999999936},{"$f":"K23","v":16.199999999999996},{"$f":"L23","v":27.599999999999994},{"$f":"M23","v":38.999999999999993},{"$f":"N23","v":56.099999999999994}]
[null,null,null,{"$f":"SUM(D32:D34)","v":63},{"$f":"SUM(E32:E34)","v":57},{"$f":"SUM(F32:F34)","v":51},{"$f":"SUM(G32:G34)","v":45},{"$f":"SUM(H32:H34)","v":39},{"$f":"SUM(I32:I34)","v":33},{"$f":"SUM(J32:J34)","v":31.799999999999994},{"$f":"SUM(K32:K34)","v":37.199999999999996},{"$f":"SUM(L32:L34)","v":42.599999999999994},{"$f":"SUM(M32:M34)","v":47.999999999999993},{"$f":"SUM(N32:N34)","v":56.099999999999994}]
["BALANCE SHEET LIABILITIES"]
["retained earnings",null,null,{"$f":"D30","v":-0.6},{"$f":"E30","v":4.8000000000000007},{"$f":"F30","v":10.200000000000001},{"$f":"G30","v":15.600000000000001},{"$f":"H30","v":21},{"$f":"I30","v":26.4},{"$f":"J30","v":31.799999999999997},{"$f":"K30","v":37.199999999999996},{"$f":"L30","v":42.599999999999994},{"$f":"M30","v":47.999999999999993},{"$f":"N30","v":56.099999999999994}]
["cash account",null,null,{"$f":"-D23","v":63.6},{"$f":"-E23","v":52.2},{"$f":"-F23","v":40.800000000000004},{"$f":"-G23","v":29.400000000000006},{"$f":"-H23","v":18.000000000000007},{"$f":"-I23","v":6.6000000000000068}]
[null,null,null,{"$f":"SUM(D37:D38)","v":63},{"$f":"SUM(E37:E38)","v":57},{"$f":"SUM(F37:F38)","v":51.000000000000007},{"$f":"SUM(G37:G38)","v":45.000000000000007},{"$f":"SUM(H37:H38)","v":39.000000000000007},{"$f":"SUM(I37:I38)","v":33.000000000000007},{"$f":"SUM(J37:J38)","v":31.799999999999997},{"$f":"SUM(K37:K38)","v":37.199999999999996},{"$f":"SUM(L37:L38)","v":42.599999999999994},{"$f":"SUM(M37:M38)","v":47.999999999999993},{"$f":"SUM(N37:N38)","v":56.099999999999994}]
[]
[null,{"$f":"SUM(C41:N41)","v":0},null,{"$f":"D35-D39","v":0},{"$f":"E35-E39","v":0},{"$f":"F35-F39","v":0},{"$f":"G35-G39","v":0},{"$f":"H35-H39","v":0},{"$f":"I35-I39","v":0},{"$f":"J35-J39","v":0},{"$f":"K35-K39","v":0},{"$f":"L35-L39","v":0},{"$f":"M35-M39","v":0},{"$f":"N35-N39","v":0}]

{"sheet":"RockyMountainPlus","index":10,"n_rows":59,"n_cols":14,"rows_kept":59,"cut":false,"hidden":false,"merged":[]}
["MINI CASE STUDY"]
[null,null,null,0,1,2,3,4,5,6,7,8,9,10]
[]
["investment",null,null,55]
["investment",null,null,5]
["initial cost",null,null,1]
["working capital",null,null,3]
["revenues-cost",null,null,null,15,15,15,15,15,15,15,15,15,15]
["termination cost",null,null,null,null,null,null,null,null,null,null,null,null,0.5]
["termination sell",null,null,null,null,null,null,null,null,null,null,null,null,5]
["debt",0.04,{"$f":"PMT(B11,10,D11)","v":-6.1645472165068256},50]
["equity",null,null,15]
[]
["amortization",null,null,null,{"$f":"-D4/10","v":-5.5},{"$f":"E14","v":-5.5},{"$f":"F14","v":-5.5},{"$f":"G14","v":-5.5},{"$f":"H14","v":-5.5},{"$f":"I14","v":-5.5},{"$f":"J14","v":-5.5},{"$f":"K14","v":-5.5},{"$f":"L14","v":-5.5},{"$f":"M14","v":-5.5}]
["amortization",null,null,null,{"$f":"-D5/10","v":-0.5},{"$f":"E15","v":-0.5},{"$f":"F15","v":-0.5},{"$f":"G15","v":-0.5},{"$f":"H15","v":-0.5},{"$f":"I15","v":-0.5},{"$f":"J15","v":-0.5},{"$f":"K15","v":-0.5},{"$f":"L15","v":-0.5},{"$f":"M15","v":-0.5}]
["annuity",null,null,null,{"$f":"-C11","v":6.1645472165068256},{"$f":"E16","v":6.1645472165068256},{"$f":"F16","v":6.1645472165068256},{"$f":"G16","v":6.1645472165068256},{"$f":"H16","v":6.1645472165068256},{"$f":"I16","v":6.1645472165068256},{"$f":"J16","v":6.1645472165068256},{"$f":"K16","v":6.1645472165068256},{"$f":"L16","v":6.1645472165068256},{"$f":"M16","v":6.1645472165068256}]
["outstanding",null,null,{"$f":"D11","v":50},{"$f":"D17-E19","v":45.835452783493174},{"$f":"E17-F19","v":41.504323678326074},{"$f":"F17-G19","v":36.99994940895229},{"$f":"G17-H19","v":32.315400168803556},{"$f":"H17-I19","v":27.443468959048872},{"$f":"I17-J19","v":22.376660500904002},{"$f":"J17-K19","v":17.107179704433335},{"$f":"K17-L19","v":11.626919676103842},{"$f":"L17-M19","v":5.9274492466411708},{"$f":"M17-N19","v":-7.9936057773011271E-15}]
["interest",null,null,null,{"$f":"D17*$B$11","v":2},{"$f":"E17*$B$11","v":1.833418111339727},{"$f":"F17*$B$11","v":1.6601729471330431},{"$f":"G17*$B$11","v":1.4799979763580917},{"$f":"H17*$B$11","v":1.2926160067521424},{"$f":"I17*$B$11","v":1.0977387583619549},{"$f":"J17*$B$11","v":0.8950664200361601},{"$f":"K17*$B$11","v":0.68428718817733347},{"$f":"L17*$B$11","v":0.46507678704415367},{"$f":"M17*$B$11","v":0.23709796986564682}]
["amortization",null,null,null,{"$f":"E16-E18","v":4.1645472165068256},{"$f":"F16-F18","v":4.3311291051670988},{"$f":"G16-G18","v":4.5043742693737823},{"$f":"H16-H18","v":4.6845492401487334},{"$f":"I16-I18","v":4.871931209754683},{"$f":"J16-J18","v":5.0668084581448705},{"$f":"K16-K18","v":5.2694807964706651},{"$f":"L16-L18","v":5.480260028329492},{"$f":"M16-M18","v":5.6994704294626715},{"$f":"N16-N18","v":5.9274492466411788}]
[]
[]
["CASH FLOW STATEMENT"]
["investment",null,null,{"$f":"-D4-D5","v":-60}]
["operation costs",null,null,{"$f":"-D6","v":-1},null,null,null,null,null,null,null,null,null,{"$f":"-N9","v":-0.5}]
["working capital",null,null,{"$f":"-D7","v":-3},0,0,0,0,0,0,0,0,0,{"$f":"-D25","v":3}]
["revenues-costs",null,null,0,{"$f":"E8","v":15},{"$f":"F8","v":15},{"$f":"G8","v":15},{"$f":"H8","v":15},{"$f":"I8","v":15},{"$f":"J8","v":15},{"$f":"K8","v":15},{"$f":"L8","v":15},{"$f":"M8","v":15},{"$f":"N8","v":15}]
["termination sell",null,null,0,0,0,0,0,0,0,0,0,0,{"$f":"N10","v":5}]
["tax",null,null,{"$f":"D44","v":0.4},{"$f":"E44","v":-2.8000000000000003},{"$f":"F44","v":-2.8666327554641096},{"$f":"G44","v":-2.9359308211467829},{"$f":"H44","v":-3.0080008094567634},{"$f":"I44","v":-3.0829535972991433},{"$f":"J44","v":-3.1609044966552182},{"$f":"K44","v":-3.241973431985536},{"$f":"L44","v":-3.326285124729067},{"$f":"M44","v":-3.4139692851823384},{"$f":"N44","v":-5.3051608120537415}]
[null,null,{"$f":"IRR(D29:N29)","v":0.14101285548520748},{"$f":"SUM(D23:D28)","v":-63.6},{"$f":"SUM(E23:E28)","v":12.2},{"$f":"SUM(F23:F28)","v":12.13336724453589},{"$f":"SUM(G23:G28)","v":12.064069178853217},{"$f":"SUM(H23:H28)","v":11.991999190543236},{"$f":"SUM(I23:I28)","v":11.917046402700857},{"$f":"SUM(J23:J28)","v":11.839095503344781},{"$f":"SUM(K23:K28)","v":11.758026568014465},{"$f":"SUM(L23:L28)","v":11.673714875270933},{"$f":"SUM(M23:M28)","v":11.586030714817662},{"$f":"SUM(N23:N28)","v":17.194839187946258}]
["interest",null,null,{"$f":"-D18","v":0},{"$f":"-E18","v":-2},{"$f":"-F18","v":-1.833418111339727},{"$f":"-G18","v":-1.6601729471330431},{"$f":"-H18","v":-1.4799979763580917},{"$f":"-I18","v":-1.2926160067521424},{"$f":"-J18","v":-1.0977387583619549},{"$f":"-K18","v":-0.8950664200361601},{"$f":"-L18","v":-0.68428718817733347},{"$f":"-M18","v":-0.46507678704415367},{"$f":"-N18","v":-0.23709796986564682}]
[null,null,{"$f":"IRR(D31:N31)","v":0.11301315717199012},{"$f":"SUM(D29:D30)","v":-63.6},{"$f":"SUM(E29:E30)","v":10.199999999999999},{"$f":"SUM(F29:F30)","v":10.299949133196163},{"$f":"SUM(G29:G30)","v":10.403896231720173},{"$f":"SUM(H29:H30)","v":10.512001214185144},{"$f":"SUM(I29:I30)","v":10.624430395948714},{"$f":"SUM(J29:J30)","v":10.741356744982827},{"$f":"SUM(K29:K30)","v":10.862960147978304},{"$f":"SUM(L29:L30)","v":10.989427687093601},{"$f":"SUM(M29:M30)","v":11.120953927773508},{"$f":"SUM(N29:N30)","v":16.95774121808061}]
["debt",null,null,{"$f":"D11","v":50},{"$f":"-E19","v":-4.1645472165068256},{"$f":"-F19","v":-4.3311291051670988},{"$f":"-G19","v":-4.5043742693737823},{"$f":"-H19","v":-4.6845492401487334},{"$f":"-I19","v":-4.871931209754683},{"$f":"-J19","v":-5.0668084581448705},{"$f":"-K19","v":-5.2694807964706651},{"$f":"-L19","v":-5.480260028329492},{"$f":"-M19","v":-5.6994704294626715},{"$f":"-N19","v":-5.9274492466411788}]
[null,null,{"$f":"IRR(D33:N33)","v":0.42566687913178525},{"$f":"SUM(D31:D32)","v":-13.600000000000001},{"$f":"SUM(E31:E32)","v":6.0354527834931737},{"$f":"SUM(F31:F32)","v":5.9688200280290644},{"$f":"SUM(G31:G32)","v":5.899521962346391},{"$f":"SUM(H31:H32)","v":5.8274519740364106},{"$f":"SUM(I31:I32)","v":5.7524991861940311},{"$f":"SUM(J31:J32)","v":5.6745482868379566},{"$f":"SUM(K31:K32)","v":5.5934793515076393},{"$f":"SUM(L31:L32)","v":5.5091676587641087},{"$f":"SUM(M31:M32)","v":5.4214834983108364},{"$f":"SUM(N31:N32)","v":11.030291971439432}]
["equity",null,null,{"$f":"D12","v":15},0,0,0,0,0,0,0,0,0,0]
[null,null,null,{"$f":"SUM(D33:D34)","v":1.3999999999999986},{"$f":"SUM(E33:E34)","v":6.0354527834931737},{"$f":"SUM(F33:F34)","v":5.9688200280290644},{"$f":"SUM(G33:G34)","v":5.899521962346391},{"$f":"SUM(H33:H34)","v":5.8274519740364106},{"$f":"SUM(I33:I34)","v":5.7524991861940311},{"$f":"SUM(J33:J34)","v":5.6745482868379566},{"$f":"SUM(K33:K34)","v":5.5934793515076393},{"$f":"SUM(L33:L34)","v":5.5091676587641087},{"$f":"SUM(M33:M34)","v":5.4214834983108364},{"$f":"SUM(N33:N34)","v":11.030291971439432}]
[null,null,null,{"$f":"D35","v":1.3999999999999986},{"$f":"D36+E35","v":7.4354527834931723},{"$f":"E36+F35","v":13.404272811522237},{"$f":"F36+G35","v":19.303794773868628},{"$f":"G36+H35","v":25.131246747905038},{"$f":"H36+I35","v":30.883745934099068},{"$f":"I36+J35","v":36.558294220937022},{"$f":"J36+K35","v":42.151773572444661},{"$f":"K36+L35","v":47.660941231208767},{"$f":"L36+M35","v":53.082424729519602},{"$f":"M36+N35","v":64.112716700959027}]
[]
["INCOME STATEMENT"]
["revenues-costs",null,null,{"$f":"D26+D27+D24","v":-1},{"$f":"E26+E27+E24","v":15},{"$f":"F26+F27+F24","v":15},{"$f":"G26+G27+G24","v":15},{"$f":"H26+H27+H24","v":15},{"$f":"I26+I27+I24","v":15},{"$f":"J26+J27+J24","v":15},{"$f":"K26+K27+K24","v":15},{"$f":"L26+L27+L24","v":15},{"$f":"M26+M27+M24","v":15},{"$f":"N26+N27+N24","v":19.5}]
["amortization",null,null,{"$f":"D14+D15","v":0},{"$f":"E14+E15","v":-6},{"$f":"F14+F15","v":-6},{"$f":"G14+G15","v":-6},{"$f":"H14+H15","v":-6},{"$f":"I14+I15","v":-6},{"$f":"J14+J15","v":-6},{"$f":"K14+K15","v":-6},{"$f":"L14+L15","v":-6},{"$f":"M14+M15","v":-6},{"$f":"N14+N15","v":-6}]
[null,null,null,{"$f":"D39+D40","v":-1},{"$f":"E39+E40","v":9},{"$f":"F39+F40","v":9},{"$f":"G39+G40","v":9},{"$f":"H39+H40","v":9},{"$f":"I39+I40","v":9},{"$f":"J39+J40","v":9},{"$f":"K39+K40","v":9},{"$f":"L39+L40","v":9},{"$f":"M39+M40","v":9},{"$f":"N39+N40","v":13.5}]
["interest",null,null,0,{"$f":"-$B$11*D54","v":-2},{"$f":"-$B$11*E54","v":-1.833418111339727},{"$f":"-$B$11*F54","v":-1.6601729471330431},{"$f":"-$B$11*G54","v":-1.4799979763580917},{"$f":"-$B$11*H54","v":-1.2926160067521424},{"$f":"-$B$11*I54","v":-1.0977387583619549},{"$f":"-$B$11*J54","v":-0.8950664200361601},{"$f":"-$B$11*K54","v":-0.68428718817733347},{"$f":"-$B$11*L54","v":-0.46507678704415367},{"$f":"-$B$11*M54","v":-0.23709796986564682}]
[null,null,null,{"$f":"SUM(D41:D42)","v":-1},{"$f":"SUM(E41:E42)","v":7},{"$f":"SUM(F41:F42)","v":7.1665818886602732},{"$f":"SUM(G41:G42)","v":7.3398270528669567},{"$f":"SUM(H41:H42)","v":7.5200020236419078},{"$f":"SUM(I41:I42)","v":7.7073839932478574},{"$f":"SUM(J41:J42)","v":7.9022612416380449},{"$f":"SUM(K41:K42)","v":8.1049335799638396},{"$f":"SUM(L41:L42)","v":8.3157128118226673},{"$f":"SUM(M41:M42)","v":8.5349232129558459},{"$f":"SUM(N41:N42)","v":13.262902030134352}]
["tax",0.4,null,{"$f":"-D43*$B$44","v":0.4},{"$f":"-E43*$B$44","v":-2.8000000000000003},{"$f":"-F43*$B$44","v":-2.8666327554641096},{"$f":"-G43*$B$44","v":-2.9359308211467829},{"$f":"-H43*$B$44","v":-3.0080008094567634},{"$f":"-I43*$B$44","v":-3.0829535972991433},{"$f":"-J43*$B$44","v":-3.1609044966552182},{"$f":"-K43*$B$44","v":-3.241973431985536},{"$f":"-L43*$B$44","v":-3.326285124729067},{"$f":"-M43*$B$44","v":-3.4139692851823384},{"$f":"-N43*$B$44","v":-5.3051608120537415}]
["profit",null,null,{"$f":"SUM(D43:D44)","v":-0.6},{"$f":"SUM(E43:E44)","v":4.1999999999999993},{"$f":"SUM(F43:F44)","v":4.2999491331961632},{"$f":"SUM(G43:G44)","v":4.4038962317201733},{"$f":"SUM(H43:H44)","v":4.512001214185144},{"$f":"SUM(I43:I44)","v":4.6244303959487141},{"$f":"SUM(J43:J44)","v":4.7413567449828271},{"$f":"SUM(K43:K44)","v":4.8629601479783036},{"$f":"SUM(L43:L44)","v":4.9894276870936007},{"$f":"SUM(M43:M44)","v":5.1209539277735079},{"$f":"SUM(N43:N44)","v":7.9577412180806109}]
[null,null,null,{"$f":"D45","v":-0.6},{"$f":"D46+E45","v":3.5999999999999992},{"$f":"E46+F45","v":7.8999491331961629},{"$f":"F46+G45","v":12.303845364916336},{"$f":"G46+H45","v":16.815846579101482},{"$f":"H46+I45","v":21.440276975050196},{"$f":"I46+J45","v":26.181633720033023},{"$f":"J46+K45","v":31.044593868011326},{"$f":"K46+L45","v":36.034021555104928},{"$f":"L46+M45","v":41.154975482878434},{"$f":"M46+N45","v":49.112716700959048}]
["BALANCE SHEET ASSET"]
["fixed assets",null,null,{"$f":"-D23","v":60},{"$f":"D48+E40","v":54},{"$f":"E48+F40","v":48},{"$f":"F48+G40","v":42},{"$f":"G48+H40","v":36},{"$f":"H48+I40","v":30},{"$f":"I48+J40","v":24},{"$f":"J48+K40","v":18},{"$f":"K48+L40","v":12},{"$f":"L48+M40","v":6},{"$f":"M48+N40","v":0}]
["working capital",null,null,{"$f":"-D25","v":3},{"$f":"D49","v":3},{"$f":"E49","v":3},{"$f":"F49","v":3},{"$f":"G49","v":3},{"$f":"H49","v":3},{"$f":"I49","v":3},{"$f":"J49","v":3},{"$f":"K49","v":3},{"$f":"L49","v":3},0]
["cash account",null,null,{"$f":"D36","v":1.3999999999999986},{"$f":"E36","v":7.4354527834931723},{"$f":"F36","v":13.404272811522237},{"$f":"G36","v":19.303794773868628},{"$f":"H36","v":25.131246747905038},{"$f":"I36","v":30.883745934099068},{"$f":"J36","v":36.558294220937022},{"$f":"K36","v":42.151773572444661},{"$f":"L36","v":47.660941231208767},{"$f":"M36","v":53.082424729519602},{"$f":"N36","v":64.112716700959027}]
[null,null,null,{"$f":"SUM(D48:D50)","v":64.400000000000006},{"$f":"SUM(E48:E50)","v":64.435452783493176},{"$f":"SUM(F48:F50)","v":64.404272811522233},{"$f":"SUM(G48:G50)","v":64.303794773868631},{"$f":"SUM(H48:H50)","v":64.131246747905038},{"$f":"SUM(I48:I50)","v":63.883745934099068},{"$f":"SUM(J48:J50)","v":63.558294220937022},{"$f":"SUM(K48:K50)","v":63.151773572444661},{"$f":"SUM(L48:L50)","v":62.660941231208767},{"$f":"SUM(M48:M50)","v":62.082424729519602},{"$f":"SUM(N48:N50)","v":64.112716700959027}]
["BALANCE SHEET LIABILITIES"]
["equity",null,null,{"$f":"D34","v":15},{"$f":"D53","v":15},{"$f":"E53","v":15},{"$f":"F53","v":15},{"$f":"G53","v":15},{"$f":"H53","v":15},{"$f":"I53","v":15},{"$f":"J53","v":15},{"$f":"K53","v":15},{"$f":"L53","v":15},{"$f":"M53","v":15}]
["debt",null,null,{"$f":"D17","v":50},{"$f":"E17","v":45.835452783493174},{"$f":"F17","v":41.504323678326074},{"$f":"G17","v":36.99994940895229},{"$f":"H17","v":32.315400168803556},{"$f":"I17","v":27.443468959048872},{"$f":"J17","v":22.376660500904002},{"$f":"K17","v":17.107179704433335},{"$f":"L17","v":11.626919676103842},{"$f":"M17","v":5.9274492466411708},{"$f":"N17","v":-7.9936057773011271E-15}]
["retained earnings",null,null,{"$f":"D46","v":-0.6},{"$f":"E46","v":3.5999999999999992},{"$f":"F46","v":7.8999491331961629},{"$f":"G46","v":12.303845364916336},{"$f":"H46","v":16.815846579101482},{"$f":"I46","v":21.440276975050196},{"$f":"J46","v":26.181633720033023},{"$f":"K46","v":31.044593868011326},{"$f":"L46","v":36.034021555104928},{"$f":"M46","v":41.154975482878434},{"$f":"N46","v":49.112716700959048}]
["cash account"]
[null,null,null,{"$f":"SUM(D53:D56)","v":64.400000000000006},{"$f":"SUM(E53:E56)","v":64.435452783493176},{"$f":"SUM(F53:F56)","v":64.404272811522233},{"$f":"SUM(G53:G56)","v":64.303794773868631},{"$f":"SUM(H53:H56)","v":64.131246747905038},{"$f":"SUM(I53:I56)","v":63.883745934099068},{"$f":"SUM(J53:J56)","v":63.558294220937029},{"$f":"SUM(K53:K56)","v":63.151773572444661},{"$f":"SUM(L53:L56)","v":62.660941231208767},{"$f":"SUM(M53:M56)","v":62.082424729519602},{"$f":"SUM(N53:N56)","v":64.112716700959041}]
[]
[null,{"$f":"SUM(C59:N59)","v":0},null,{"$f":"D51-D57","v":0},{"$f":"E51-E57","v":0},{"$f":"F51-F57","v":0},{"$f":"G51-G57","v":0},{"$f":"H51-H57","v":0},{"$f":"I51-I57","v":0},{"$f":"J51-J57","v":0},{"$f":"K51-K57","v":0},{"$f":"L51-L57","v":0},{"$f":"M51-M57","v":0},{"$f":"N51-N57","v":0}]