Similar to problem 2.2.9 of mathematics of investment and credit 7th edition by Samuel Broverman

Note: show each step for answer

6. On the first day of each month, starting January 1, 2000, your "great- aunt" deposits 100 in an account earning 10% "towards your college fund" compounded monthly, with interest credited the last day of each month. In addition, your "grandma" deposits 1000 every Dec 31 in this same "college account". On what day does the account first exceed 200,000