Amanda is expected to receive full social security retirement benefit of $1520 when she turns 67.If her life expectancy is 88 years and expected rate of return is 3%, should Amanda take full benefit at 67 or delay benefit till 70? Assume no other income and taxes during retirement.
A. At 67 since present value at 67 for taking retirement at 67 is $283,930
B. At 70 since present value at 67 for taking delayed retirement is $287,609
C. At 70 since present value at 67 for taking delayed retirement is $314,278
D. At 67 since present value at 67 for taking retirement at 67 is $244,921