Money Market Account Calculator

Calculate Money Market Account Growth and Compound Interest

The Money Market Account Calculator evaluates future savings growth, total interest earned, and compound yields for money market accounts (MMAs). Money market accounts are FDIC-insured bank savings products that often offer higher interest rates (APY) than traditional savings accounts while preserving liquid access to funds.

Money Market Account Compound Formula

Money market accounts earn compound interest calculated using the discrete compound growth equation:

$$\text{Future Value} = P \times \left(1 + \frac{r}{n}\right)^{n \cdot t} + \text{PMT} \times \left[ \frac{\left(1 + \frac{r}{n}\right)^{n \cdot t} - 1}{\frac{r}{n}} \right]$$

Where $P$ is initial deposit, $\text{PMT}$ is monthly contribution, $r$ is annual interest rate, $n$ is compounding frequency per year, and $t$ is duration in years.

How to Use the MMA Savings Calculator

1. Enter your starting balance (Initial Deposit).
2. Specify any recurring monthly savings contributions.
3. Set the account annual percentage yield (APY) interest rate.
4. Choose the investment horizon in years and compounding frequency (daily or monthly).
5. View your projected total balance, accumulated principal, and total interest earned.