The reason the probability that the kth card will end up in slot n is 1/n is because the nth iteration completely determines what card ends up in slot n! (<--- that s an exclamation point, not a factorial :-).
Think about it. On the last iteration of the loop, you have some random permutation... and the kth card is sitting in some slot. The probability it moves into slot n is just the probability that you pick that kth card at random. Assuming you pick cards with equally likely probability, that probability is 1/n.
Hope this helps.
-Tom
UPDATE
You might be thinking I made a faulty assumption. Namely, you might be wondering... what if the kth card can end up in different slots with different probabilities? What if the "random shuffling" isn t really random? This is why only the last iteration matters:
Let pi denote the probability that the kth card is in slot i on the n-1 iteration (ie - it is in slot i right before the end).
Then the probability that card k ends up in slot n (on the nth iteration) is:
(1/n)p1 + (1/n)p2 + ... + (1/n)pn
But notice we can factor the (1/n), so we have:
(1/n)(p1 + p2 + ... + pn)
And because these are probabilities, it should be obvious that the sum of the pi s (i = 1 to n) must equal 1. So we are left with just (1/n).
That is just being a bit more formal to show that the randomness of the state of affairs before the nth iteration really does not matter.