Money Market Account Calculator
Calculate the future value of a money market account based on initial deposit, monthly contributions, annual interest rate, and term.
Published by:
isCalculator Editorial Team
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How to use this tool?
This calculator estimates the future value of a Money Market Account based on your deposits, monthly contributions, interest rate, term, and compounding frequency.
- Enter Initial Deposit – The starting amount in dollars (e.g., $10,000).
- Enter Monthly Contribution – Additional amount you plan to add each month (e.g., $500).
- Enter Annual Interest Rate – The yearly rate as a percentage (e.g., 2.5% for 2.5).
- Enter Term (Years) – How long you plan to keep the account open.
- Select Compounding Frequency – How often interest is calculated (Monthly, Quarterly, Semiannually, or Annually).
- Click "Calculate" – The results will show:
- Future Balance – Total account value at the end of the term.
- Total Contributions – Sum of all deposits (initial + monthly).
- Total Interest Earned – Growth from interest.
Note: All monetary values are in USD. Ensure inputs are non-negative numbers. If the interest rate is 0%, the result is simply the sum of contributions.
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Frequently Asked Questions
A money market account is a type of savings account that typically offers a higher interest rate than a regular savings account, often with check-writing and debit card privileges.
The calculator uses the compound interest formula with monthly contributions, compounded at your chosen frequency (monthly, quarterly, semiannually, or annually).
Yes, you can use it for any interest-bearing account with regular contributions, such as high-yield savings or certificates of deposit.
