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On the first day of the month, starting January 1, 1995, Smith deposits 100 in an account earning i (12) = 0.09, with interest credited

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

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