Money Market Account Calculator

Calculate money market account growth with compound interest. Compare rates, analyze earnings, and optimize your savings strategy with detailed projections.

✓ Compound Interest ✓ Growth Projections ✓ Rate Comparison

Money Market Account Calculator

Account Details

Starting balance for your account

Annual percentage yield (APY)

How long to keep money invested

Additional Contributions

Regular monthly deposits

Annual increase in contributions

Required minimum balance

Monthly maintenance fee

Tax rate on interest earned

Compound Interest Formula

Money market account growth calculation

Formula:

A = P(1 + r/n)^(nt) + PMT × [((1 + r/n)^(nt) - 1) / (r/n)]
Where: A = Final amount, P = Principal, r = Rate, n = Compounding frequency, t = Time, PMT = Payment

Account Examples

Conservative Saver
Low risk, steady growth
Regular Contributor
Monthly deposits, good rate
High Yield Account
Premium rates, higher minimum

Current Rate Guide

High Yield: 4.0% - 5.5%
Standard: 2.5% - 4.0%
Basic: 0.5% - 2.5%
National Avg: ~0.6%

MMA Features

💳 Debit Card: Easy access to funds
📝 Check Writing: Limited monthly checks
🏦 FDIC Insured: Up to $250,000
📈 Higher Rates: Better than savings
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Understanding Money Market Accounts

Money Market Accounts (MMAs) combine the benefits of savings and checking accounts, offering higher interest rates with limited transaction capabilities.

  • Higher Yields: Better rates than traditional savings
  • FDIC Insured: Government protection up to $250,000
  • Limited Transactions: Typically 6 withdrawals per month
  • Minimum Balance: Usually higher than savings accounts

MMA Benefits

Higher Interest Rates

Earn more than traditional savings accounts with competitive APY.

Easy Access

Debit card and check-writing privileges for convenient access.

Safety & Security

FDIC insurance protects your deposits up to $250,000.

Compound Growth

Interest compounds regularly to maximize your earnings.