Money Market Calculator
Project money market account growth with interest and regular deposits.
- Last reviewed
- July 8, 2026
- Cost
- Free to use
- Data
- Runs in your browser
Final Balance
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Total Deposits
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Interest Earned
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Effective Annual Yield
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Methodology
How this calculator handles inputs
This calculator uses the values you enter above and applies the formula explained in the guide below. Results update in the browser and are intended for quick planning, comparison, and sanity-checking.
- Use consistent periods, currencies, and units across inputs.
- Review any assumptions before using the result in a decision.
- Recalculate when rates, prices, tax rules, or business terms change.
Important note
This tool provides general planning information only. It is not tax, legal, financial, accounting, or investment advice. Check the current rules for your location and speak with a qualified professional before making a high-stakes decision.
Guide
How it works
Use this calculator to project money market account growth with interest and regular deposits.
What this calculator does
The money market calculator estimates a final balance from an initial deposit, monthly deposits, and APY.
It uses:
- initial balance
- monthly deposit
- annual interest rate
- time period in years
Money Market Formula
FV = P(1 + r)^n + PMT x (((1 + r)^n - 1) / r)
Where:
- FV = final balance
- P = initial balance
- PMT = monthly deposit
- r = monthly interest rate
- n = number of months
Example calculation
If:
- Initial balance = 10,000
- Monthly deposit = 300
- Annual interest rate = 4%
- Time = 5 years
Then:
- Total deposits = 28,000
- Final balance = about 31,000
- Interest earned = about 3,000
The account reaches about 31,000.
What is a money market account?
A money market account is a cash account that may combine savings interest with limited transaction features. It is often used for accessible cash reserves.
Why money market growth matters
- shows how cash reserves can earn interest
- helps compare deposit account options
- estimates interest on regular deposits
- supports short-term financial planning
When to use this calculator
- projecting money market balances
- comparing APY assumptions
- planning emergency fund growth
- estimating interest from monthly deposits
Common mistakes
- assuming APY will stay unchanged
- ignoring balance minimums or fees
- treating cash returns like investment returns
- forgetting withdrawals reduce compounding
Money market vs high-yield savings
Both can earn interest on cash. Money market accounts may offer different access features, while high-yield savings accounts are often simpler.
FAQs
What is a money market account?
A money market account is a deposit account that earns interest and may provide limited transaction access.
How do you calculate money market growth?
Compound the starting balance and monthly deposits at the monthly equivalent of the annual rate.
What is a good money market rate?
A good rate is competitive with other cash accounts after fees and minimum balance rules.
What is the difference between money market and high-yield savings?
The main differences are account features, access rules, minimums, and rate structure.
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