Money Market Calculator

Use this free Money Market Calculator to estimate future value, interest earned, and APY for money market accounts. Enter initial deposit, monthly contributions, annual interest rate, compounding frequency, and time horizon.

Results

Future Value: —
Total contributions: —
Total interest earned: —
Effective APY: —

How the Money Market Calculator works

This money market calculator uses standard compound interest formulas. It computes future value (FV) from an initial principal plus a stream of regular monthly contributions. The formula used for lump-sum compounding is:

FV = P * (1 + r/n)^(n*t)

Where P is the initial deposit, r is the annual interest rate (decimal), n is the number of compounding periods per year, and t is the number of years.

For monthly contributions we compute the future value of a series of payments using the standard annuity formula, adjusted for the selected compounding frequency. The tool interpolates and displays a growth timeline so you can see balance evolution year-by-year.

Why this calculator helps

This calculator is useful if you want to compare money market accounts, estimate how much interest you’ll earn, or plan short-to-medium term savings goals. It is particularly helpful for tracking emergency fund growth, laddering strategies, or comparing money market vs savings or short-term CDs.

Example

Example: $5,000 initial deposit, $200 monthly contribution, 2.5% annual rate compounded monthly for 5 years. The calculator will display future value, total contributions ($5,000 + $200*60 = $17,000), and the total interest earned.

Inputs explained

  • Initial deposit: One-time starting amount.
  • Monthly contribution: Recurring monthly deposit added at each period.
  • Annual interest rate: Enter the stated APY or nominal rate for the account.
  • Compounding frequency: Daily, monthly, quarterly, or annually — money market accounts often compound monthly or daily.
  • Duration: Investment horizon in years.

Frequently asked questions