1. Page 1 of 19
The Porter’s
Risk Management and Insurance
Portfolio
Group 15
2. Page 2 of 19
Table of Contents
Family Profile..................................................................................................................................3-4
Hypothetical Insurance Claims.........................................................................................................5-6
Monthly Budget Analysis.................................................................................................................7-8
Homeowner’s Insurance (Home Risk) .................................................................................................9
Auto Insurance (Automobile Risk) ............................................................................................... 10-11
Life Insurance (Mortality Risk)..................................................................................................... 12-13
Health Insurance (Accident and Illness Risk)...................................................................................... 14
Short Term Disability Insurance (Accident and Illness Risk)................................................................ 15
Long Term Disability Insurance (Accident and Illness Risk)............................................................ 15-16
Long Term Care Insurance (Long Term Care Risk) .............................................................................. 17
Retirement Plan (Longevity Risk)................................................................................................. 18-19
3. Page 3 of 19
Family Members:
Alex: Age 41
Krystal: Age 40
Alisa: Age 17
Allen: Age 12
Ryan: Age 5
Family History:
Alex and Krystal met while attending the University of Virginia. Alex majored in finance with a
minor in economics while Krystal majored in management but always had a particular affinity
for web page development. One year after graduating from UVA, the couple got married and
had a child name Alisa in 1997; their lives would change forever. In debt from student loans,
Alex realized in order to support a growing family and increase his salary, he should go to grad
school to get an MBA, and so he enrolled at VCU. Krystal was a stay at home mom and had a
small, one person web development company, which gave her the flexibility the Porters
desperately needed. Fast forward 16 years to 2014. Alex is now an EVP for Dominion Resources
pulling in a base salary of $175,000 per year, Krystal has grown her business into a regionally
recognized web development, branding, and advertising specialist and averages about 50,000
per year, working part time. Her income is sporadic and is generally used for day to day
purchases, special occasions, and building savings/college funds. Two more kids have been born
to the Porters, 12 year old Allen and 5 year old Ryan, who has autism but can still function in
school and maintain a normal childhood by taking medicine. The family has a nice house in the
West End and has maintained excellent credit for the past 15 years.
Automobiles
Alex rides smooth in his new 2015 Gray Lexus LX he just purchased last month for $86,000.00.
He put down $25,000 and financed the remaining $61,000 for a 72 month term at 2.39%
resulting in a monthly payment of $910.26 per month. Although a courteous driver by all
accounts, Alex tends to be pre-occupied by routinely attending conference calls while
commuting. Last year he receive two speeding tickets, the first speeding ticket was in April 1,
2000 was removed from his record because he successfully completed a driver’s improvement
class, the second speeding ticket was on June 19, 2009 and he pled guilty to speeding 72 in a
55. Alex paid a fine to the courts.
Krystal primarily drives a 2011 white Toyota Sienna with about 40,000 miles. There is no
monthly payment as she owns the vehicle. Being the cautious person she is, she likes to brag
about her clean driving record.
Alex and Krystal brought Alisa for her birthday a 2009 Honda Accord for which they paid
$11,000.00 for. They own the vehicle, however a contractual agreement exists between parents
and daughter. The daughter makes excellent grades in high school and her GPA is 4.0 and is
very involved in school and community activities.
4. Page 4 of 19
House
Three years ago, the Porters upgraded to a new brick house in the West End. The purchase
price was $480,000.00, they put down $96,000.00 @ 3.55%
Features:
3,300 square feet
5 bedrooms
3.5 Bathrooms
Brick exterior
Wood-Burning Fireplace
Up-to-date appliances
Security System and Fire Alarms
5. Page 5 of 19
Hypothetical Insurance Claims
Hypothetical Situation 1 (Auto Insurance)
While Mr. Porter was on his way to work on a snowy morning he lost control of his Lexus,
swerved into oncoming traffic and ended up side swiping two vehicles, disabling all three
automobiles involved. During the investigation, it was learned that Mr. Porter was on a
conference call with colleagues. The tally of the monetary damage is as follows:
Vehicle 1- one occupant who sustained a bruised left side, and claimed neck and back
pain. Damage to the car totaled to $5,230.45 and medical payments of $2,500
Vehicle 2- one occupant who sustained a broken arm and had to have surgery. Damage
to the car totaled $13,000 and was deemed a total loss and medical payments of
$16,000
Vehicle 3 (Mr. Porters) though not injured, his Lexus needed costly repairs in the
amount $12,000. He also needed a rental, which
The occupants in both vehicles filed a law suit for negligence due to Mr. Porter being on the cell
phone. They were awarded the following amounts for pain and suffering. Occupant 1 $25,000
and occupant 2 $100,000.
Part A of the policy will cover the following:
Vehicle 1 the $5,230.45 to fix the car and the $2,500 in medical costs
Vehicle 2 the $13,000.00 for the totaled car and the $16,000 in medical costs
The defense of Mr. Porter
Occupant 1 lawsuit $25,000
Occupant 2 lawsuit $100,000
As a result of the incident, the Porter’s automobile insurance increased by about $50.00 per
month.
Hypothetical Situation 2 (Homeowners)
Hurricane Stephen has just stormed through Richmond, Virginia and left a path of destruction
in its wake. During the height of the storm, a tree limb fell, broke through the plywood, and
punctured the roof. Fortunately, no one was hurt and there was minimal water damage to the
interior. The following day, the situation was assessed, pictures were taken, and Nationwide
was contacted. Since this was a relatively new roof (3 years old on a 20 year roof), it still had a
lot of value. The estimated cost to repair the damage was $35,000, which included repair to the
plywood, broken joists, shingles, other materials, and labor. Since the roof still had about 17
years of expected life on it, the coverage A would pay about $28,750. 35k*.85 = $29,750 –
deductible of 1k = $28,750
Hypothetical Situation 3 (Short Term Disability)
Mr. Porter is injured at work (a non existing condition), and is deemed unable to complete his
job duties for a short amount of time, and has been unable to work for 2 weeks. He would be
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provided workers’ compensation (if he does not have Dominion provided disability insurance)
because he was injured at work. He would be able to receive a maximum of $885.00 a week or
$3,540 a month until he is able to return to work. In this situation, it would be best for Mr.
Porter to invest in short term disability insurance through his job which would provide at least
60% income replenishment. The average premium for a new group short-term disability
insurance is $214 per person. In this situation, a private policy would take a while to start to pay
out benefits and the workers’ compensation and short term group insurance from Dominion
would be a better option because it would provide benefits faster.
Hypothetical Situation 4 (Long Term Disability)
Mr. Porter is injured in a car accident and has suffered irreparable brain damage. His cognitive
functioning has been severely impacted and would be deemed permanently disabled. In this
situation, it would be best to invest in the Life Style Protection policy along with receiving short
term benefits from Dominion Power. Depending on work related disability insurance, the risk
incurred from a permanent long term condition would be best mitigated by a long term private
insurance policy. The payout from this policy is at $126,000 a year until age 67, which is
reasonably close to his original salary and could still provide a reasonable quality of life for his
family compared to the other insurance quotes.
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Monthly Budget
The below tables illustrate the Porter’s income and estimated expenditures, including
premiums for insurance. The Porter’s spend about 8% of their net income on insurance needs
and little over half goes to toward all monthly reoccurring expenditures.
Combined Montly Income (Net) 13,351.33$ % of Income
Monthly Payments
House Payment (PITI) 2,473.67$ 18.53%
Car Payment 910.26$ 6.82%
Insurance Premimums (Combined) 1,066.17$ 7.99%
Utilities (elec,water, gas, cable, etc) 850.00$ 6.37%
Food 800.00$ 5.99%
Entertainment (activities) 800.00$ 5.99%
Total 6,900.10$ 51.68%
Income Less Expenditures 6,451.23$ 48.32%
Income Vs Expeditures
House Payment (PITI)
Car Payment
Insurance Premimums
(Combined)
Utilities (elec,water, gas,
cable, etc)
Food
Entertainment (activities)
Income Less
Expenditures
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The following table shows a breakdown of each monthly insurance premium.
Insurance Type Monthly Premium
Homeowner's Insurance 119.25$
Auto Insurance (after accident) 329.26$
Life Insurance 203.49$
Health Insurance 175.00$
Short Term Disability Insurance Declined Coverage
Long Term Disability Insurance 239.17$
Long Term Care Insurance Declined Coverage
Total 1,066.17$
Insurance Premiums
Homeowner's Insurance
Auto Insurance (after
accident)
Life Insurance
Health Insurance
Long Term Disability
Insurance
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Homeowner’s Insurance
Homeowner’s insurance is an absolute must as there is still mortgage on the property and the
bank will require it in order to protect their investment. The Porters need enough insurance to
cover the dwelling (about $510,000) at the current fair market value.
Overall, quotes from three companies were received; Nationwide, Statefarm, and Allstate.
Nationwide was the cheapest by about $50.00 per month and also provide more than enough
coverage.
The A.M Best, S&P, and Moddy’s ratings for each of the three companies reviewed are as
follows.
Nationwide Statefarm Allstate
Deductible
Per Incident ( All Perils) 1,000.00$ 1% (min $1000) 1,000.00$
Hurricane 1,000.00$ 1% (min $1000) %5 of dwelling
Protection for the Property
Dwelling Coverage 600,000.00$ 600,000.00$ 528,977.00$
Other Structures 60,000.00$ 60,000.00$ 52,898.00$
Ordinance or Law Coverage 60,000.00$ Not Specified Not Specified
Replacement Cost Plus Dwelling Included Not Specified Not Specified
Inflation Protection Included Not Specified Not Specified
Protection for "you"
Personal Liability 300,000.00$ 500,000.00$ 300,000.00$
Medical Payments 1,000.00$ 10,000.00$ 5,000.00$
Loss of Use 600,000.00$ Not Specified 52,898.00$
Fire Department Service Charge 500.00$ 500.00$ Not Specified
Protection for your personal items
Personal Property 420,000.00$ 450,000.00$ 317,386.20$
Jewelry 1,500.00$ 5,000.00$ 30,000.00$
Firearms 1,000.00$ 2,500.00$ Not Specified
Money 200.00$ Not Specified Not Specified
Securities 1,000.00$ Not Specified Not Specified
Business Property 500.00$ Not Specified Not Specified
Credit Card 1,000.00$ Not Specified Not Specified
Merchandise Samples Not Specified 5,000.00$ Not Specified
Other
Earthquake (Yes, No) No Yes No
Premium per Month 119.25$ 168.92$ 167.00$
Premium per Year 1,431.00$ 2,070.00$ 1,993.00$
Rating Company Nationwide Statefarm Allstate
A.MBest A+ A++ A+
S&P A+ AA AA-
Moody's A1 AA1 AA3
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Auto Insurance
Since the Porters are well off, they need a significant amount of insurance to protect their
assets in the rare occurrence of a catastrophic event. They have three vehicles; a 2015 Lexus
LX570 driven by Alex, a 2011 Toyota Sienna LE driven by Krystal, and a 2009 Honda Accord EX
driven by Alisa. For this quote the coverages for bodily injury and property damage are
$500,000/$750,000/$250,000 respectively. Since the Porters have accumulated around 250k in
cash and a home currently valued at a little over 500k, it would be in their best interest to
protect these assets with relatively cheap auto insurance with a monthly premium of @279.26
per month or $1645.52 for six months, about a $30.00 savings. Due to the Porter’s financial
situation, the deductible is $1000.00 for all three vehicles for both comprehensive and collision.
Due to the incident the Porters now pay $329.26 per month.
The discounts applied are as follows:
New Car $35.10
Good Driver $87.29
Anti-Lock $21.47
Anti-theft $10.56
Driving Experience Included
Good Student $47.50
Financial Responsibility Included
Vehicle Count $578.26
Persistency $137.76
Total Discount $917.94
The quote in the below table represents the coverage the Porter’s selected, which was
provided by Geico. Geico has an A.M. Best financial strength rating of A++ and a debt rating of
aaa. Standard and Poor’s rates Geico’s credit rating as AA+ and the financial strength of its
subsidiaries as AA+.
Vehicle 2015 Lexus LX570 2011 Toyota Sienna LE 2009 Honda Accord EX
Primary Driver Alex Porter Krystal Porter Alisa Porter
Age 41 40 17
Bodily Injury Liability $539.59 $500,000/$750,000 $500,000/$750,000 $500,000/$750,000
Property Damage Liability $338.50 $250,000 $250,000 $250,000
Medical Payments $129.89 $10,000 $10,000 $10,000
Loss of Income N/A Declined Declined Declined
Uninsured Motorist Bodily Injury $46.23 $300,000/$300,000 $300,000/$300,000 $300,000/$300,000
Uninsured Motorist Property Damage $29.40 $100,000 $100,000 $100,000
Upgraded Accident Forgiveness N/A Declined Declined Declined
Comprehensive $55.53, $21.30, $20.56 $1000.00 Deductible $1000.00 Deductible $1000.00 Deductible
Collision $208.17, $101.76, $143.37 $1000.00 Deductible $1000.00 Deductible $1000.00 Deductible
Emergency Road Service $$2.24, $3.87, $5.11 Coverage Accepted Coverage Accepted Coverage Accepted
Transportation Expense N/A Declined Declined Declined
Mechanical Breakdown Insurance N/A Declined Declined Declined
$279.26/Month or $1645.52/6 Months
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The company that was compared to Geico for automobile insurance was Allstate. According to
their website, Allstate has a A.M. Best rating of A+ while Standard & Poor’s rated it an AA-. The
quote received from Allstate was for $50,000/$100,000/$50,000 and the premium was $479.96
per month or $2874.00 for six months. It was determined that a) it was too expensive and b)
the Porter’s needed a much higher amount of insurance to protect their assets. This quote also
had a deductible amounts of $750.00 and $1000.00 for collision and comprehensive
respectively for each of the three vehicles.
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Life Insurance for The Porter’s
Life insurance is an essential part of our existence. Oftentimes, we do not think life
insurance is necessary until death occurs. As we grow, build families, and accrue expenses,
thoughts of protecting our loved ones after death, becomes a reality. Mr. Alex Porter’s choice
to acquire life insurance was based on the financial support he provides for his family, which
includes his wife and children. Currently, his family has many expenses, such as monthly
mortgage payments, one car payment, providing maintenance for two family-owned cars, other
insurance payments, the costs of rearing three kids including the high cost of preparing for
college. The following breakdown represents the estimated coverage the Porters would need if
Alex passed away:
RequiredLife Insurance allocation:
Loans, mortgage or rent,and otherdebts (6k extra): $451,000.00
Income Replacement: $875,000.00
Other Expenses: $20,000.00
Your Total Life Insurance Need: $1,346,000.00
Less OtherAssets: ($265,300.00)
Additional Life Insurance Needed: $1,086,700.00
PolicyCoverage $1,700,000.00
Netamount after debtspaid $1,229,000.00
The chart above represents the Porters expected needs, given Alex’s death. The calculations
are so that the Porters can pay off the remaining amount of their mortgage, car payment and
other debts the family have incurred. After paying off all debt the Porter Family will have
$619,300.00 in the time of Alex’ death. Given Alex’s profession and interests he holds about
$110,000 in a Brokerage account, as an investment, along with his 401K plan and college fund
which can be used for an emergency if the family needs it.
They are currently looking at a 30 year Term, being offered by a number of different insurance
companies as shown below:
Company MetLife Prudential Mutual of Omaha
PolicyType 30 Year Term 30 Year Term 30 Year Term
PolicyCoverage $1,700,000 $1,700,000 1,700,000
MonthlyPayment $234.18 $203.49 $238.92
A.M Best Rating A+ A+ A+
S & P Rating AA- AA- A+
The Porters are looking for Insurance companies that have strong ratings and great customer
services. The three companies are Met Life, Prudential Insurance and Mutual of Omaha. After
close analysis of the different coverage’s and ratings, the Porters decided to go with Prudential.
Prudential provides the closest amount of coverage they were looking for to pay off any
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outstanding debts, increase financial security, while maintaining a comfortable life style at a
reasonable price. The premium is also the lowest at $203.49 per month.
An Insurer Financial Strength Rating measures the ability of an insurer to fulfill its financial
obligations with regard to life insurance, homeowners insurance and other insurance products
to the policyholder. Prudential has a strong rating and exceptional customer service. There
Insurer Financial Strength Rating is A+ for A.M Best Company which means Superior and the
Standard & Poor’s insurer financial strength is AA- which means Very Strong. All policies shown
above are renewable at age 85 and exams are required within three to six weeks from signing
up. The policy will expire when he turns 71 years of age. Mr. Porter expects to see all his kids
graduate from college and live a long, prosperous life due to his healthy life style and access to
medical care. If he does not live to see his children graduate, he will have peace of mind
knowing that his life insurance will protect his family for the ambivalences in life.
Among the Companies that were reviewed, the A.M Best rating and S&P rating varied.
Prudential Life and Mutual of Omaha had the best ratings; which were an A+ rating for the A.M
best and an AA- for the S&P Rating and an S&P rating for Omaha is an A+ which is just a strong
rating. The rates for these life insurance policies were collected online from each of the
company’s website. The Annual and Monthly payments varied for each life insurer. The annual
cost of 30-Year Term life insurance is a little over $200 a month.
Alex Porter will have a stronger sense of pride, freedom, and a peaceful mind knowing that he
has entrusted his family’s security to the faithful hands of Prudential.
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Health Insurance
The Porters are provided health care through Mr. Porter’s employer, Dominion Resources.
Dominion pays for 80% of the insurance premium, while the employee pays for 20% of the
premium through a bi-weekly pre-tax deduction from Mr. Porter’s paycheck. Dominion uses
Anthem as their health insurance provider, and has selected a very good plan for the
employees. Below is a break down of the Anthem health plan:
Dominion Resources Health Insurance
In-Network Benefits
Anthem
Plan Type PPO
Deductible- PerPlan
Year
One person
Two or more persons
$225
$450
Coinsurance 20% after deductible
Max. Out of Pocket
One person
Two or more persons
$1,500
$3,000
Hospital Services
InpatientServices
Outpatient Services
$300 per stay
$125 per visit
OutpatientSurgery 20% or, 0% after coinsurance
Doctor Visits $25 PCP, $40 Spec
PrescriptionDrugs-
Retail Pharmacy Up to 34 day supply: $15/$30/$45/$55
EmergencyCare 20%, or 0% coinsurance
Basic Monthly
Premium $175
Annual Premium $2,100
This health plan works great for the Porters due to the fact that for $175 per month all five
members of their family are included, including their 17 year old daughter who is driving, and
their 5 year old son who is special needs. No other supplemental insurance is needed for the
family, and the employer provided health plan beats all other deals on the open market place.
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Disability Insurance
Disability insurance replaces lost income to the insured if there is an accident or illness that
prevents the insured from working. Income replacement is crucial in situations that result in
disability due to the risk of reduced income and incurring additional expenses due to being
disabled or ill. In order to choose the best available decision or combination of decisions in
regards to disability insurance, evaluations need to be made about benefits available from
social insurance programs enforced by federal and state laws, workers’ compensation, group
disability insurance, and private insurance that the Porter family can purchase.
Short Term Disability
Short term disability insurance pays a percentage of the insured’s’ salary if they become
temporarily disabled, usually with a limit of two years. Dominion Power provides disability
insurance for their employees. Depending on whether Dominion Power has integrated or non-
integrated disability insurance, under an integrated policy, Mr. Porter would qualify for
disability insurance due to work or non-work related accidents or illnesses. Under a non-
integrated policy, Mr. Porter would not qualify for a non-work related incident, and would
receive income replenishment from Dominion’s group disability policy. Under Virginia code,
short term disability benefits from an employer kick in after a seven day calendar period of
being disabled. Under Virginia law, the disabled person would be entitled to 2/3 of their gross
average weekly wage. For the short term, it would be best to invest in group disability
insurance provided by Dominion because it would kick in sooner than private insurance.
Long Term Disability
The Porter family has decided to invest in long term disability instead of buying a short term
private renewable policy because in the long run it is a better option due to protecting against
long-term loss of income. Mr. Porter would be protected under Virginia law to receive short
term disability benefits in a reasonable time period, if necessary, so paying for a short term
policy doesn’t make sense when some short term and long term disability insurance benefits
have similar elimination periods. It also makes more sense to buy long term disability because
some insurance companies allow social insurance benefits to be received in addition to long
term disability payments. The insurance benefits would be offset by the workers’ compensation
benefits, but this would allow for extra protection.
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Disability Quotes
Mutual Of Omaha Zander Insurance
Group
LifeStyle
Protection(Genworth)
A.M. Best Rating A+ A A-
Monthly Benefit 5,000 7,275 10,500
Benefit Period 24 months To age 65 Up to age 67
Elimination Period 60 days 90 Days 90 days
Annual Premium $1,026.00 $2,084.44 $2,870.04
Monthly Premium $85.5 $173.70 $239.17
Since Social Security benefits are extremely hard to qualify for, the hypothetical situations will
be based upon worker’s compensation, company provided benefits, and privately purchased
insurance based upon the primary wage earner (Mr.Porter-175,000). In both situations, the
best options would be The Lifestyle Protection Policy combined with Dominion provided
disability insurance. The Lifestyle Protection policy replenishes 100% of Mr. Porter’s lost wages,
has a guaranteed renewable policy, has an excellent A.M. Best rating, and has the highest
monthly benefit. The
17. Page 17 of 19
Long Term Care
The Porters have decided not to get Long Term Care insurance, due to a variety of reasons.
First of all, they have a comprehensive medical plan that will cover any medical issues that
occur. They also have long-term disability insurance that will cover any medical problems that
arise and are more serious in nature.
Second, the Porters have decided against Long Term Care insurance because they make a high
household income of $225,000 and have a strong savings account. If anything were to occur,
they have the ability to cover it without putting their family in jeopardy.
Additionally, Dominion Resources has a company sponsored pension and health plan for
retirees that is based on salary, years of service, and age. If Mr. Porter were forced to retire
early due to medical problems, he would have a pension and health care plan that would take
care of any medical needs while providing an additional monthly income, in addition to the
disability insurance, that would see Mr. Porter and his family through. Based on the Porter
family’s set of circumstances, the Porters do not see it practical to have the added cost of Long
Term Care insurance.
18. Page 18 of 19
Retirement Plan
401K
Mr. Porter contributes the maximum amount allowed, which is $17,500 per year. His employer
matches up to 5% which equates to an additional $8,750 per year, for a combined contribution
of $26,250 per year. Assuming a conservative annualized return of 5.5%, Mr. Porter can expect
to have approximately $1,620,007 in his 401k, pre-tax and about $972,046 post tax.
According to an inflation calculator on buyupside.com, $972,046 in 24 years from today at a 3%
inflation rate will have the same amount of purchasing power as $478,182 today. In order to
have the same purchasing power in 24 years as $972,046 has today, $1,975,969 will be needed.
Brokerage Account
Mr. Porter has an affinity for self-directed investments. He currently has a portfolio valued at
$110,000. He sporadically adds more funds when he sees a good solid investment. The below
table is an indication of what the future value may be like if an 8.2% annualized return is
achieved each year.
According to an inflation calculator on buyupside.com, $1,141,085 in 24 years from today at a
3% inflation rate will have the same amount of purchasing power as $561,338 today. In order to
have the same purchasing power in 24 years as $1,141,085 has today, $2,319,590 will be
needed.
Current Value 84,300.00$
Yearly Contribution 17,500.00$
Employer Match (5%) 8,750.00$
Total Yearly Contribution 26,250.00$
Per Month Contribution 2,187.50$
5.5% Annualized Return 0.458333333
24 Years Until 65 288 Months
Future Value 1,620,077.48$
Post Tax @ 40% 972,046.49$
401K
Current Value 110,000.00$
Monthly Contribution Not Defined
Average Annualized return 8.20%
24 Years until 65
Future Value with no Contribution 729,200.00$
Future Value with 6k per Year 1,141,085.00$
Brokerage account
19. Page 19 of 19
Combined
Though the Porter’s do have a nice savings and checking account (and will continue to add to it)
a plan for retirement should still be made. The table below shows how much money per month
the Porters would have as income in today’s dollars and adjusted for inflation at 3% using 24
years from today. Based on the table, if they both reach an average age (about 77) they will
have almost $6,000 available to them each month. Since their house will be paid off, this should
allow for a rather nice retirement. However, if they both (or one) lives to reach a very old age,
then their 401k and brokerage accounts may not be enough to live on.
According to an inflation calculator on buyupside.com, $2,113,131 in 24 years from today at a
3% inflation rate will have the same amount of purchasing power as $1,039,520 today. In order
to have the same purchasing power in 24 years as $2,113,131 has today, $4,295,560 will be
needed.
Length Age Amount Per month Adjusted for Inflation
10 years 75 17,609.43$ 8,662.00$
15 Years 80 11,739.62$ 5,774.00$
20 years 85 8,804.71$ 4,330.00$
25 years 90 7,043.77$ 3,464.00$
30 years 95 5,869.81$ 2,887.00$
35 years 100 5,031.27$ 2,474.00$