The state of Florida is always working on Interstate $4.$ The state is trying to finish the road section

by the toll station. The state has decided to sell state bonds to cover the needed repairs. A

Delaware state savings bond can be converted to $$100\mathrm{.}00$ at maturity $6$ years from the purchase.

If the state bonds are to be competitive with U$.$S$.$ savings bonds, which pays $8\%$ annual interest

$($compounded annually$),$ at what price must Delaware sell its bonds? $($Assume no cash payments

on savings bonds prior to redemption.$)$ Show formula and the work!