MMA Calculator

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Currency

Initial deposit

Interest rate (APY)

Years / Months

Some Calculate

Click the Calculate Button

Some Result

Final balance

Initial deposit

Total interest earned

APY

Total contributions made

Summary

Monthly / Yearly breakdown

Why Use This Money Market Account Calculator?

What is a Money Market Account?
A money market account (MMA) is a type of deposit account offered by banks and credit unions that earns interest based on prevailing money market rates. It typically uses compound interest to grow your balance over time. MMAs are worth considering when you want to earn a return on your savings while still maintaining easy access to your funds.

How Does an MMA Grow Your Money?
Money market accounts earn compound interest, meaning the interest you earn each period is added to your balance and then earns further interest in the next period. This compounding effect means your balance accelerates in growth over time, especially with larger deposits and longer time periods.

What This Calculator Shows You?
Enter your starting deposit, the annual interest rate or APY, and your investment time period. You can also include regular monthly or periodic contributions to see how adding to your account over time affects your final balance. The calculator will show you a projected estimate of your total interest earned and ending balance.

APY vs APR — Which to Enter?
APY already accounts for compounding and reflects your true annual return. APR is the base rate before compounding. If your bank quotes you an APY figure, enter that directly. If they quote an APR, the calculator will convert it to an effective APY for you.

Important Note
This calculator provides estimated projections for planning purposes only. Actual returns will depend on your account terms, the interest rate offered by your financial institution, and any applicable fees or withdrawal conditions. Always consult your bank or a qualified financial advisor for personalized advice.