Your niece heard that she should start saving when young. She is 15 years old and is considering saving half of her $200 monthly allowance instead of spending the whole amount. As a student taking a Finance course she is asking your advice. Does it really make a difference to start saving at 15, instead of 25 after she graduated and traveled for a year? Explain to your niece the outcome of each option. Assume a conservative effective annual investment rate (EAR) of 5% and that she will need the funds when she is 65 years old. Hint: for an EAR of 5%, you need to calculate the monthly rate for monthly savings