The money market account calculator works out future value of money market account, total interest and total deposit from expected annual return, investment amount, investment period, recurring investment and starting balance. Enter what you have and the relationship is applied straight away, so you get the answer without working through the algebra yourself.
What Is the Money Market Account Calculator?
The money market account calculator takes expected annual return, investment amount, investment period, recurring investment and starting balance and turns them into future value of money market account, total interest and total deposit.
It is the kind of calculation you would otherwise do on the back of an envelope: mechanical, repeatable and easy to get subtly wrong without noticing.
How the Money Market Account Figure Is Built
Each result is calculated from the ones before it, so the working is fully visible. That matters when the answer is going to be quoted to somebody else and you need to be able to explain where it came from.
The figures are exactly as good as the assumptions underneath them. Check the rates, the periods and the tax treatment before you rely on the result.
Reading the Result Sensibly
A small change in an input can move the result by much more than you would expect, particularly where the calculation divides by one of the figures you supplied. That is worth understanding before you rely on a figure.
For anything that will be committed to, write the inputs down beside the result. A number you can reproduce is worth far more than one you cannot explain.
A Worked Example
Working through an example, with expected annual return set to 10, investment amount set to 5, investment period set to 2, the calculator returns future value of money market account of 478,103,662.67, and future value of money market account (fv2) of 605, and total deposit of 2,410. Substitute your own figures and the same steps produce the same kind of answer.
Frequently Asked Questions
What do I need to work out future value of money market account?
Enter expected annual return, investment amount, investment period, recurring investment and starting balance. The calculator then works through the relationship and reports future value of money market account, total interest and total deposit.
What does the money market account actually calculate?
It takes expected annual return, investment amount, investment period, recurring investment and starting balance and converts them into future value of money market account, total interest and total deposit using the standard relationship for this problem. Each step is applied in turn, so every output is traceable back to the numbers you typed in.
How should I enter expected annual return?
Use the value you actually have, in the unit shown next to the field. Enter every value in the same unit system. The calculator assumes the figures you supply are consistent, so it cannot correct a mistake that happens before the calculation starts.
Why does a small change in one value move the answer so much?
That happens when an output depends on a ratio, because dividing by a small number magnifies any change in it. Check the units first, then check whether the value you entered is in the range the relationship was designed for.
Is the answer exact?
It is as exact as the formula and the inputs allow. The method itself is the standard one for this problem, so the only sources of error are the figures you enter and the precision you ask for.