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PS Your Grandfather is 65 years old today and to celebrate, you're taking him to lunch. After a couple of martini's he tells you that he is absolutely convinced he will die on his 100th birthday. He also tells you that he has to decide whether to delay collecting Social Security until his is 70. if he starts collecting today, he will make $25,000 per year. If he waits, he will make $35,000 per year (but remember, he gets no social security until he is 70). Assume that Social Security is paid annually at the end of the year and that he can borrow or lend at 5%. What should he do (and why)? Take the money now. Money received now is more valuable than money received in the future O Wait. 35 payments of $25,000 are worth $875,000 today, 30 payments of $35.000 are worth $1,050,000 today Wait. The delayed payments have a present value that is $12,210.26 bigger than the present value of the immediate payments Wait. The delayed payments have a present value that is $15,583.73 bigger than the present value of the immediate payments None of these other answers are correct