Answer the following and show your work. Note that Ryan saves up $1,000,000. The wording is funny because it is continued from another question.

Here is some background from the scenario:

7. If Ryan saves up the million dollars (in terms of today's dollars) by the time of his retirement at age 65, how much can he withdraw each month (beginning one month after his retirement) in equal dollar amounts, if he figures he will live up to the age of 85 years? Assume that his investment fund yields a nominal rate of return of 7% per year