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The US Government says that a retired person can start to receive SS income at age of 66, however, if one chooses to wait until age 70 to get SS income, then the payment will increase 8% per year from age 66 to 7o Consider ONLY time value, excluding other factors such as personal health, current state of finance, etc.,, how do you make the choice? start to get SS at 662 or 20 what is your thought If you deposit $10,000 into a bank which offers interest rate of 8% per year. Calculate the total amount aat the end of 12 months: 1. rate compounded yearly 2. rate compounded monthly. 3. rate compounded daily