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12-2 Como usar o Solucionador de Finanças
Juros compostos é o processo pelo qual os juros obtidos
em um determinado montante principal são adicionados
a ele em períodos de composição específicos, e o
montante combinado rende juros a uma determinada
taxa. Os cálculos financeiros que envolvem juros
compostos incluem poupanças, financiamentos de
imóveis, fundos de pensão, aluguéis e anuidades.
Os cálculos de valor do dinheiro no tempo (TVM), como
o nome indica, servem-se da noção de que um real hoje
valerá mais do que um real, algum dia, no futuro. Um
real pode ser investido hoje a uma determinada taxa de
juros e gerar um retorno que o mesmo real no futuro não
poderá gerar. Este princípio de TVM é a essência da
noção de taxas de juros, juros compostos e taxas de
retorno.
As transações com TVM podem ser representadas com o
uso de diagramas de fluxo de caixa. Um diagrama de
fluxo de caixa é uma linha de tempo dividida em
segmentos iguais, que representam os períodos de
composição. As setas representam os fluxos de caixa,
que podem ser positivos (setas para cima) ou negativos
(setas para baixo), dependendo do ponto de vista de
quem concede ou recebe o empréstimo. O diagrama de
fluxo de caixa a seguir mostra um empréstimo, sob o
ponto de vista de quem recebe o empréstimo:
Present value (PV)
(Loan)
Money
received is
a positive
number
Money
paid out is
a negative
number
Equal periods
1
23
4
5
(PMT)
Future value
(FV)
Equal payments
Payment
(PMT)
Payment
(PMT)
Payment
(PMT)
Payment
(PMT)
}
}
}
}
}
158


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