Money Market Account Calculator

Your details

The amount you are depositing or currently have in the account.
Enter the Annual Percentage Yield (APY) shown by the bank. This already accounts for compounding, but you can still choose a compounding frequency below to model the growth sub-periods.
%
How many years you plan to keep money in the account.
years
How often the bank credits interest. More frequent compounding means slightly higher earnings at the same stated rate.
Optional recurring contribution to add each period. Enter 0 for no contributions.
How often you make the additional deposit above.
Currency
Final balance
$46,216.63

Projected account balance at the end of the savings period

Total interest earned$6,216.63
Total contributions$40,000.00
Effective APY4.594%
Interest as share of final balance13.5%

In 5 years, your account reaches $46,217.

  • Your money grows from $40,000 in contributions to $46,217, with compound interest making up 13.5% of the final balance.
  • Regular contributions of $500.00 are a major driver of growth alongside the 4.594% effective APY.
  • The longer your savings horizon, the more compound interest overtakes your contributions as the main growth driver.

Next stepCompare the APY on your money market account with high-yield savings accounts and short-term CDs, which sometimes offer higher rates for the same low risk.

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