The first month has the equation raised to 11 which is the number of months left in the period.
So each month the equation would be the same except it would be raised to 1 less than the previous month.
Month 2 = 50(1.003)^10
Month 3 = 50(1.003)^9
Month 4 = 50(1.003)^8
Month 5 = 50(1.003)^7
Month 6 = 50(1.003)^6
Month 7 = 50(1.003)^5
Month 8 = 50(1.003)^4
Month 9 = 50(1.003)^3
Month 10 = 50(1.003)^2
Month 11 = 50(1.003)^1
Month 12 = 50(1.003) ( the last month would not be raised to anything)
