As a financial planner, one of your clients asks for advice on building their nest egg for retirement. She currently has $75,000 in savings and wishes to build this to $1.2 million over the next 20 years. She is a fairly conservative investor. Given an expected rate of return of 7% Effective Annual Rate (NOT APR!!), compounding monthly, what will she need to save at the end of each month for the next 20 years? (hints: (i) try the PMT function; (ii) carefully consider the signs of the entries in the PMT function; (iii) check your result with a financial calculator.) BE SURE YOUR FORMULA DOES NOT HAVE NUMBERS IN IT - CELL REFERENCES EFF (Effective Annual Rate) Initial Balance Number of Years Desired Ending Balance 5.50% Periodic Rate $35,000 27 Number of Months $1,700,000 Monthly Payment