Susan Weld age 65 has decided to retire from her job. She has built a retirement fund of $1 million after 40 years of work. She wants her fund to last for 20 years and she expects to earn an average of 6 percent annually on her fund during retirement. How much can she withdraw from her fund each year? Omit the dollar sign from your answer in this and in all subsequent problems.

how much can Ms. Weld withdraw each year if instead she can earn 7 percent during retirement?