Money Market Yield & Interest Calculator
Calculate money market account (MMA) interest earnings, compounding growth, and ending balance with monthly deposits.
Interactive Calculator
1. Provide Details
$
$
%
yrs
2. Output Results
Ending Account Balance22,982.3 $
Total Principal Deposited20,800 $
Total Interest Earned2,182.3 $
How to Calculate: Formula & Steps
Applies compound interest formula with monthly annuity contributions compounding at rate r = APY/100.
Formula Used:
A = P(1 + r/n)^(nt) + PMT × [ ((1 + r/n)^(nt) - 1) / (r/n) ]Step-by-Step Calculation Example
A $10,000 initial deposit at 4.5% APY with $300 monthly deposits grows to $22,785 in 3 years ($1,985 total interest earned).
Common Mistakes to Avoid
- Confusing Money Market Accounts (bank savings product) with Money Market Mutual Funds (brokerage product).
Practical Use Cases
- Emergency fund yield planning
- Comparing high-yield savings vs money market accounts
Expert Tips
- Money market accounts often tier rates based on account balance—maintain minimum thresholds for top APY tiers.
Frequently Asked Questions About Money Market Yield & Interest Calculator
Are Money Market Accounts safe?
Yes, MMAs at FDIC-insured banks are protected up to $250,000 per depositor.
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