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Money Market Calculator
See what a money market account could grow into. Enter an opening deposit, optional monthly deposits, an APY and a term, then press Calculate to project your ending balance and interest.
Written by TopicDrill Editorial Team·Updated June 2026
Balance over time
Balance Deposited
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How the money market calculator works
The tool starts with your opening deposit and grows it at the APY you enter, adding each monthly deposit as it lands. Because APY already bakes in compounding, the balance climbs a little every month rather than only once a year, which is how a real money market account credits interest.
The chart pulls the two pieces apart. The shaded area is your total balance, and the dashed line is the cash you have deposited so far. The space between them is interest the bank has paid you, and it grows wider the longer your money stays in the account.
A quick example
Open with $5,000, add $200 a month, and earn a 4.5% APY for 5 years. You deposit $17,000 of your own money, and the account finishes near $19,300. The roughly $2,300 difference is interest, earned without you lifting a finger after the first deposit.
Things to keep in mind
Money market rates are variable, so the bank can change your APY at any time and the real result will drift from a single projection. Always compare the posted APY rather than the nominal rate, since APY is the apples-to-apples number. For the official rules on deposit insurance, see FDIC.gov. If you are weighing a fixed term instead, compare results with our CD calculator.
Frequently asked questions
What is a money market account?
A money market account is a deposit account at a bank or credit union that usually pays a higher rate than a basic savings account. It is insured up to the legal limit and lets you grow cash you want to keep liquid rather than lock away.
What does APY mean on a money market account?
APY stands for annual percentage yield. It is the real rate you earn over a year once compounding is included, so it is the figure to compare across accounts. This tool treats the APY you enter as the true yearly growth rate of your balance.
How is a money market account different from a money market fund?
A money market account is a bank deposit that is federally insured and pays a set rate. A money market fund is an investment product that holds short term securities, is not insured, and has a yield that floats. This calculator models the insured deposit account, not the fund.
Can the APY on my account change?
Yes. Most money market accounts pay a variable rate that the bank can raise or lower as market rates move, so your real earnings may differ from a single fixed projection. Re-run the calculator whenever your posted APY changes to keep the estimate current.
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