# Money Market Calculator

> Project the growth of a money market account (MMA) with monthly contributions and daily compounding interest.

**URL:** https://www.calculatoranswers.com/money-market-calculator
**Category:** Money

## Quick Answer

Project how your money market account will grow over time with daily compounding interest and recurring monthly contributions. View your future balance and a year-by-year growth table.

## Definition

A money market calculator projects the future balance of a money market account (MMA) by applying compounding interest to an initial deposit and optional recurring contributions. Because MMAs typically calculate interest daily and pay it monthly, the calculator uses daily compounding by default. It helps savers compare interest rates (APY) and plan long-term savings goals.

## How to Use

1. **Enter initial deposit** — Input the starting balance of your money market account.
2. **Set annual APY** — Type the expected interest rate or Annual Percentage Yield.
3. **Choose savings term** — Enter the number of years you plan to keep the account open.
4. **Add monthly contribution** — Optionally input the monthly amount you plan to deposit.
5. **Review the growth schedule** — View the projected balance, total interest earned, and year-by-year growth table.

## Disclaimer

This calculator provides estimates for educational and planning purposes. Always consult a qualified professional for specific advice on financial, medical, legal, or other regulated decisions.

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