What must your life expectenvcy assumption be in order to, Financial Management

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What must your life expectenvcy assumption be in order to

You are 55 years old today. You are planning for your retierment, and need to decide wether you should take your social security at age 62 and reviece a monthly payment of $1800 or wait until full retierment age of 67 and recieve a monthly payment of $2560

If you assume you'll live the average life expectancy of 85 years, what is the value of each option at age 55? Which option should you choose? Assume a discount rate of 4%

Option 1 (Retire at 62): Show work

Option 2 (Retire at 67): Show Work

What must your life expectenvcy assumption be in order to take the other option?

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