Your grandmother has told you she can either give you $4,000 now or $5,200 when you graduate from college in three years. Your savings account earns 6% interest, compounded annually. Which option would be worth more to you now, and how much more? (Future Value of $1, Present Value of $1, Future Value Annuity of $1, Present Value Annuity of $1.) (Round your PV factor to 4 decimal places and final answer to 2 decimal places.)

The $4,000 now is worth $365.92 more than the $5,200 in the future.

The $5,200 in the future is worth $400.00 more than the $4,000 now.

The $5,200 in the future is worth $365.92 more than the $4,000 now.

The $4,000 now is worth $400.00 more than the $5,200 in the future.