The formula to calculate the monthly seeking fund is:
\[ MSF = \frac{FV \cdot r}{(1 + r)^n - 1} \]
Where:
A monthly seeking fund is a financial term that refers to the amount of money that needs to be set aside each month to reach a specific future value, given a certain interest rate and number of periods. This concept is often used in personal finance and investment planning to help individuals and organizations plan for future financial goals, such as retirement, education, or large purchases.
Example:
Using the formula:
\[ MSF = \frac{10000 \times \frac{0.05}{12}}{(1 + \frac{0.05}{12})^{24} - 1} = 397.05 \, \text{dollars} \]
The monthly seeking fund (MSF) is $397.05.
