On what day does the account first exceed

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Question: On the first day of each month, starting January 1, 1995, Smith deposits 100 in an acount earning i(12)=0.09, with interest credited the last day of each month. In addition,Smith deposits 1000 in the account every December 31. On what day does the account first exceed 100,000?

Reference no: EM131975948

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