Do not use excel, I want to understand the process of how this works.

1. $300 is deposited into Fund X at the beginning of each month for 10 years (120 payments). Fund X earns a nominal annual of 6%. At the end of each month, the interest earned is withdrawn from the fund and deposited into Fund Y, which earns a nominal annual rate of 7.2%. a. Determine the accumulated value of Fund Y at the end of year 10. b. Determine the total accumulated values of Fund X plus fund Y