29 2007 . N 54. . . 01.07.11 531


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+-------+-------+--------+--------------+-------+-------+--------+---------------+-------+-------+--------+--------------+-------+-------+--------+--------------+
  190     95    -        95          220    110     -        110           60     30     -        30           60     30     -        30         
                                                                                                                                                 
                                                                                                                                                 
                                                                                                                                                 
                                                                                                                                                 
                                                                                                                                                 
                                                                                                                                                 
                                                                                                                                                 
                                                                                                                                                 
                                                                                                                                                 
                                                                                                                                                 
                                                                                                                                                 
                                                                                                                                                 
                                                                                                                                                 
                                                                                                                                                 
+-------+-------+--------+--------------+-------+-------+--------+---------------+-------+-------+--------+--------------+-------+-------+--------+--------------+
  80      40    -        40           80     40     -         40           60     30     -        30           -       -     -         -         
                                                                                                                                                 
                                                                                                                                                 
                                                                                                                                                 
                                                                                                                                                 
                                                                                                                                                 
                                                                                                                                                 
                                                                                                                                                 
                                                                                                                                                 
                                                                                                                                                 
                                                                                                                                                 
                                                                                                                                                 
                                                                                                                                                 
                                                                                                                                                 
                                                                                                                                                 
                                                                                                                                                 
                                                                                                                                                 
                                                                                                                                                 
+-------+-------+--------+--------------+-------+-------+--------+---------------+-------+-------+--------+--------------+-------+-------+--------+--------------+
  100     -    100       -            -      -      -         -            -       -     -         -           -       -     -         -         
                                                                                                                                                 
                                                                                                                                                 
                                                                                                                                                 
                                                                                                                                                 
                                                                                                                                                 
                                                                                                                                                 
L-------+-------+--------+--------------+-------+-------+--------+---------------+-------+-------+--------+--------------+-------+-------+--------+---------------

     --------------------------------
     <*>              
            (
              ),   
                     
 .


                                                         N 6

                                                "
                                          
                                      "
                                        2011 - 2016  
                                         "
                                                  "
                                                    2007 - 2011 

                            ,
               "
               
        "  2011 - 2016   
              "  "
                           2007 - 2011 

                            (. ,    )

----------------------------T-------------------------------------T-------------------------------------T-------------------------------------T-------------------------------------
                       2011 - 2016                          2011                              2012                              2013                  
                +-------T--------------T--------------+-------T--------------T--------------+-------T--------------T--------------+-------T--------------T--------------+
                                                                                   
                                                                       
                                                                                                   
+---------------------------+-------+--------------+--------------+-------+--------------+--------------+-------+--------------+--------------+-------+--------------+--------------+
  1 "       "                                                                
+---------------------------T-------T--------------T--------------T-------T--------------T--------------T-------T--------------T--------------T-------T--------------T--------------+
                       2215    725           1490          -      -              -            -       -             -            -       -             -          
+---------------------------+-------+--------------+--------------+-------+--------------+--------------+-------+--------------+--------------+-------+--------------+--------------+
    :                                                                                                                                                         
+---------------------------+-------+--------------+--------------+-------+--------------+--------------+-------+--------------+--------------+-------+--------------+--------------+
   1              410    150           260           -      -              -            -       -             -            -       -             -          
  "                                                                                                                                                         
                                                                                                                                                        
                                                                                                                                                   
                                                                                                                                                           
                                                                                                                                                  
                                                                                                                                                 
                                                                                                                                                        
                                                                                                                                                 
                                                                                                                                                   
                                                                                                                                                  
   4 "                                                                                                                                                         
  (                                                                                                                                                     
   -                                                                                                                                               
                                                                                                                                                        
                                                                                                                                                     
  )                                                                                                                                                           
+---------------------------+-------+--------------+--------------+-------+--------------+--------------+-------+--------------+--------------+-------+--------------+--------------+
   2              390    150           240           -      -              -            -       -             -            -       -             -          
  "                                                                                                                                                         
                                                                                                                                                        
                                                                                                                                                   
                                                                                                                                                           
                                                                                                                                                  
                                                                                                                                                 
   ,                                                                                                                                               
  ,                                                                                                                                                   
                                                                                                                                                       
                                                                                                                                                       
                                                                                                                                                          
                                                                                                                                                  
   10 "                                                                                                                                                        
  (                                                                                                                                                     
   -                                                                                                                                               
                                                                                                                                                        
                                                                                                                                                     
  )                                                                                                                                                           
+---------------------------+-------+--------------+--------------+-------+--------------+--------------+-------+--------------+--------------+-------+--------------+--------------+
   3              305    100           205           -      -              -            -       -             -            -       -             -          
  "                                                                                                                                                         
                                                                                                                                                        
                                                                                                                                                   
                                                                                                                                                           
                                                                                                                                                        
                                                                                                                                                      
                                                                                                                                                  
   100 "                                                                                                                                                        
  (                                                                                                                                                     
   -                                                                                                                                               
                                                                                                                                                        
                                                                                                                                                     
  )                                                                                                                                                           
+---------------------------+-------+--------------+--------------+-------+--------------+--------------+-------+--------------+--------------+-------+--------------+--------------+
   4              270    75            195           -      -              -            -       -             -            -       -             -          
  "                                                                                                                                                         
                                                                                                                                                        
                                                                                                                                                   
                                                                                                                                                           
                                                                                                                                                    
                                                                                                                                                        
                                                                                                                                                  
                                                                                                                                                  
                                                                                                                                                  
                                                                                                                                                        
  "                                                                                                                                                          
  (                                                                                                                                                     
   -                                                                                                                                               
                                                                                                                                                        
                                                                                                                                                     
  )                                                                                                                                                           
+---------------------------+-------+--------------+--------------+-------+--------------+--------------+-------+--------------+--------------+-------+--------------+--------------+
   5              260    80            180           -      -              -            -       -             -            -       -             -          
  "                                                                                                                                                         
                                                                                                                                                        
                                                                                                                                                   
                                                                                                                                                           
                                                                                                                                                  
                                                                                                                                                 
                                                                                                                                                        
                                                                                                                                                       
                                                                                                                                                  
  "                                                                                                                                                      
  (                                                                                                                                                     
   -                                                                                                                                               
                                                                                                                                                        
                                                                                                                                                     
  )                                                                                                                                                           
+---------------------------+-------+--------------+--------------+-------+--------------+--------------+-------+--------------+--------------+-------+--------------+--------------+
   6              340    100           240           -      -              -            -       -             -            -       -             -          
  "                                                                                                                                                         
                                                                                                                                                        
                                                                                                                                                   
                                                                                                                                                     
   ,                                                                                                                                                    
                                                                                                                                                        
                                                                                                                                                             
                                                                                                                                                   
                                                                                                                                                        
                                                                                                                                                        
                                                                                                                                                    
   "                                                                                                                                             
  (                                                                                                                                                     
   -                                                                                                                                               
                                                                                                                                                        
                                                                                                                                                     
  )                                                                                                                                                           
+---------------------------+-------+--------------+--------------+-------+--------------+--------------+-------+--------------+--------------+-------+--------------+--------------+
   7              240    70            170           -      -              -            -       -             -            -       -             -          
  "                                                                                                                                                   
   ,                                                                                                                                                  
                                                                                                                                                       
   ,                                                                                                                                                
                                                                                                                                                         
                                                                                                                                                           
                                                                                                                                                          
                                                                                                                                                  
  "                                                                                                                                                        
  (                                                                                                                                                     
   -                                                                                                                                               
                                                                                                                                                        
                                                                                                                                                     
  )                                                                                                                                                           
+---------------------------+-------+--------------+--------------+-------+--------------+--------------+-------+--------------+--------------+-------+--------------+--------------+
  2 "       "                                                                 
+---------------------------T-------T--------------T--------------T-------T--------------T--------------T-------T--------------T--------------T-------T--------------T--------------+
                        290    90            200           -      -              -            -       -             -            -       -             -          
+---------------------------+-------+--------------+--------------+-------+--------------+--------------+-------+--------------+--------------+-------+--------------+--------------+
    :                                                                                                                                                         
+---------------------------+-------+--------------+--------------+-------+--------------+--------------+-------+--------------+--------------+-------+--------------+--------------+
   8              290    90            200           -      -              -            -       -             -            -       -             -          
  "                                                                                                                                                         
                                                                                                                                                        
                                                                                                                                                   
                                                                                                                                                           
                                                                                                                                                          
                                                                                                                                                
                                                                                                                                                   
                                                                                                                                                          
                                                                                                                                                    
                                                                                                                                                 
                                                                                                                                                       
  "                                                                                                                                                          
  (                                                                                                                                                     
   -                                                                                                                                               
                                                                                                                                                        
                                                                                                                                                     
  )                                                                                                                                                           
+---------------------------+-------+--------------+--------------+-------+--------------+--------------+-------+--------------+--------------+-------+--------------+--------------+
           3 "                                                                                                
          "                                                                                  
+---------------------------T-------T--------------T--------------T-------T--------------T--------------T-------T--------------T--------------T-------T--------------T--------------+
                        810    250           560           -      -              -            -       -             -            -       -             -          
+---------------------------+-------+--------------+--------------+-------+--------------+--------------+-------+--------------+--------------+-------+--------------+--------------+
    :                                                                                                                                                         
+---------------------------+-------+--------------+--------------+-------+--------------+--------------+-------+--------------+--------------+-------+--------------+--------------+
   11             240    70            170           -      -              -            -       -             -            -       -             -          
  "                                                                                                                                                         
                                                                                                                                                        
                                                                                                                                                   
                                                                                                                                                           
                                                                                                                                                        
                                                                                                                                                  
                                                                                                                                                         
  "                                                                                                                                                          
  (                                                                                                                                                     
   -                                                                                                                                               
                                                                                                                                                        
                                                                                                                                                     
  )                                                                                                                                                           
+---------------------------+-------+--------------+--------------+-------+--------------+--------------+-------+--------------+--------------+-------+--------------+--------------+
   12             310    100           210           -      -              -            -       -             -            -       -             -          
  "                                                                                                                                                         
                                                                                                                                                        
                                                                                                                                                   
                                                                                                                                                           
                                                                                                                                                        
                                                                                                                                                     
                                                                                                                                                  
                                                                                                                                                         
                                                                                                                                                        
  "                                                                                                                                                          
  (                                                                                                                                                     
   -                                                                                                                                               
                                                                                                                                                        
                                                                                                                                                     
  )                                                                                                                                                           
+---------------------------+-------+--------------+--------------+-------+--------------+--------------+-------+--------------+--------------+-------+--------------+--------------+
   13             260    80            180           -      -              -            -       -             -            -       -             -          
  "                                                                                                                                                         
                                                                                                                                                        
                                                                                                                                                   
                                                                                                                                                           
                                                                                                                                                        
                                                                                                                                                    
                                                                                                                                                 
                                                                                                                                                     
   "                                                                                                                                                  
  (                                                                                                                                                     
   -                                                                                                                                               
                                                                                                                                                        
                                                                                                                                                     
  )                                                                                                                                                           
+---------------------------+-------+--------------+--------------+-------+--------------+--------------+-------+--------------+--------------+-------+--------------+--------------+
                  5 "      ,                                                             
  ,    ,     "                                         
+---------------------------T-------T--------------T--------------T-------T--------------T--------------T-------T--------------T--------------T-------T--------------T--------------+
                       1685   1485           200          500    400            100          600     500           100          585     585            -          
+---------------------------+-------+--------------+--------------+-------+--------------+--------------+-------+--------------+--------------+-------+--------------+--------------+
    :                                                                                                                                                         
+---------------------------+-------+--------------+--------------+-------+--------------+--------------+-------+--------------+--------------+-------+--------------+--------------+
   20 "  1685   1485           200          500    400            100          600     500           100          585     585            -          
                                                                                                                                                               
                                                                                                                                                      
                                                                                                                                                        
                                                                                                                                                            
                                                                                                                                                 
  "                                                                                                                                                      
  (                                                                                                                                                     
   -                                                                                                                                               
                                                                                                                                                      
   )                                                                                                                                                
L---------------------------+-------+--------------+--------------+-------+--------------+--------------+-------+--------------+--------------+-------+--------------+---------------

--------------------------------------T-------------------------------------T---------------------------------------
           2014                              2015                              2016                     
+-------T--------------T--------------+-------T--------------T--------------+-------T--------------T----------------+
                                            
                                   
                                                        
+-------+--------------+--------------+-------+--------------+--------------+-------+--------------+----------------+
                                                                                                                   
+-------T--------------T--------------T-------T--------------T--------------T-------T--------------T----------------+
 1108    363           745          664     217           447          443     145            298          
                                                                                                           
                                                                                                           
+-------+--------------+--------------+-------+--------------+--------------+-------+--------------+----------------+
 205     75            130          123     45            78            82     30             52           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
+-------+--------------+--------------+-------+--------------+--------------+-------+--------------+----------------+
 195     75            120          117     45            72            78     30             48           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
+-------+--------------+--------------+-------+--------------+--------------+-------+--------------+----------------+
 152     50            102           92     30            62            61     20             41           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
+-------+--------------+--------------+-------+--------------+--------------+-------+--------------+----------------+
 136     38            98            80     22            58            54     15             39           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
+-------+--------------+--------------+-------+--------------+--------------+-------+--------------+----------------+
 130     40            90            78     24            54            52     16             36           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
+-------+--------------+--------------+-------+--------------+--------------+-------+--------------+----------------+
 170     50            120          102     30            72            68     20             48           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
+-------+--------------+--------------+-------+--------------+--------------+-------+--------------+----------------+
 120     35            85            72     21            51            48     14             34           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
+-------+--------------+--------------+-------+--------------+--------------+-------+--------------+----------------+
                                                                                                                   
+-------T--------------T--------------T-------T--------------T--------------T-------T--------------T----------------+
 147     47            100           88     28            60            55     15             40           
                                                                                                           
                                                                                                           
+-------+--------------+--------------+-------+--------------+--------------+-------+--------------+----------------+
 147     47            100           88     28            60            55     15             40           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
+-------+--------------+--------------+-------+--------------+--------------+-------+--------------+----------------+
                                                                                                                   
                                                                                                                   
+-------T--------------T--------------T-------T--------------T--------------T-------T--------------T----------------+
 405     125           280          243     75            168          162     50             112          
                                                                                                           
                                                                                                           
+-------+--------------+--------------+-------+--------------+--------------+-------+--------------+----------------+
 120     35            85            72     21            51            48     14             34           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
+-------+--------------+--------------+-------+--------------+--------------+-------+--------------+----------------+
 155     50            105           93     30            63            62     20             42           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
+-------+--------------+--------------+-------+--------------+--------------+-------+--------------+----------------+
 130     40            90            78     24            54            52     16             36           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
+-------+--------------+--------------+-------+--------------+--------------+-------+--------------+----------------+
                                                                                                                   
                                                                                                                   
+-------T--------------T--------------T-------T--------------T--------------T-------T--------------T----------------+
  -       -             -            -       -             -            -       -              -           
                                                                                                           
                                                                                                           
+-------+--------------+--------------+-------+--------------+--------------+-------+--------------+----------------+
  -       -             -            -       -             -            -       -              -           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
                                                                                                           
L-------+--------------+--------------+-------+--------------+--------------+-------+--------------+-----------------


                                                         N 7

                                                "
                                          
                                      "
                                        2011 - 2016  
                                         "
                                                  "
                                                    2007 - 2011 
                                                                      
                    
              
              " 
              "
            2011 - 2016    
                  "  "
                           2007 - 2011 
                                                                      
                            (. ,    )

-------------------------------------T---------T-----------------------------------------
                                     2011 -                                  
                                      2016   +------T------T------T------T------T------+
                                      -   2011  2012  2013  2014  2015  2016 
                                                          
+------------------------------------+---------+------+------+------+------+------+------+
                                  
+------------------------------------T---------T------T------T------T------T------T------+
                                 11955   1845  1947  2218  2495  1950  1500 
+------------------------------------+---------+------+------+------+------+------+------+
       :                                                                    
          -    10590   1745  1847  2118  1960  1630  1290 
           -                                               
                                                                           
+------------------------------------+---------+------+------+------+------+------+------+
                            300     100   100   100   -      -    -   
+------------------------------------+---------+------+------+------+------+------+------+
                   1065      -     -     -   535    320  210  
+------------------------------------+---------+------+------+------+------+------+------+
                                        
+------------------------------------T---------T------T------T------T------T------T------+
                                 1485     400   500   585   -      -    -   
+------------------------------------+---------+------+------+------+------+------+------+
                      1485     400   500   585   -      -    -   
                                                                         
L------------------------------------+---------+------+------+------+------+------+-------
    
    
                                                         N 8

                                                "
                                          
                                      "
                                        2011 - 2016  
                                         "
                                                  "
                                                    2007 - 2011 
    
                                
          " 
              "
            2011 - 2016    
                  "  "
                           2007 - 2011 
    
                     "
       " 
2011   -   2016           "
  "    2007  -  2011   ( - )
                
      -    
      ,        
  .
                
      ,  
         ,
            . , 
        
      , 
     
  .
              
(      )            
      2010  -   ,
   (2011 - 2016 ).
            (    )  
   2010               
   ,   "i"
( ai)     :
    
                                    1
                            ai = --------
                                        i
                                 (1 + E)  ,

     :
     E -   ;
     i  -           0-  i-
,  :
     0 -  ()  ();
     2 - 1- ,    ;
     3 - 2- ,   1- ,  ..
                 
        ,  
      7,75 . 
       E = 0,0775.
                
      ,        
          
  :
     18      -            
 ;
     2    -         
(            20
       
    10 );
     4    -       
     (    
           
      40     ,    
                  
     10 );
     0,9    -      
(        
                   
    6 ,      
                 
     15 ).
                 
          
            
 .
        ,            
      24,9  (18% +
2%  +  4%  +  0,9%)          
  .
        ,   m- , 
     ( 2011  2016  , m =
1...6)      :

                      m                     m
                Fm = SUM 0,249 x ai x Ri - SUM ai x Bi 
                     i=1                   i=1         .

         2017    (m  >  6),     
              ,   
  :
    
                      m                     6
                Fm = SUM 0,249 x ai x Ri - SUM ai x Bi 
                     i=1                   i=1         ,
    
     :
     ai  -    ,    
   ;
      Ri  -       
  i- , . ;
     Bi  -         
i- , . .
           -       
    ,         
       ,        
  ,   
  .
           , 
         ,            
      ,   
   ,    
    .
     ,            ,     
  :
           , 
   ;
                  ,  
,      ,     
;
               
  ,     
   .

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