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Lake Forest School District needs to build an additional elementary school due to capacity. In...

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Accounting

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Lake Forest School District needs to build an additional elementary school due to capacity. In conjunction with the D. Department of Education, they have decided to sell state bonds to cover the construction of the new school. An Del state savings bond can be converted to $125 at maturity eight years from purchase. If the state bonds are to be com with U.S. savings bonds which pay 6% annual interest (compounded annually), at what price must they sell the bond" (Assume no cash payments on savings bonds prior to red wiption.) Show the formula and all work

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