the present value of an annuity is $55,088.87
Explanation:
The computation of the value today is given below:
Present value of annuity is
= Annuity × [1 - (1+interest rate)^-time period] ÷ rate
= $5,200 × [1 - (1.07)^-20] ÷ 0.07
= $5,200 × 10.59401425
= $55,088.87
hence, the present value of an annuity is $55,088.87