Money Market Account Interest

Finance

Calculate interest earned on Money Market Account (MMA). Formula: Interest = Principal × (APY/100) × (Days/365). Rates vary by bank & balance.

Formula

Interest = Principal × (APY/100) × (Days/365)

$10k, 4.5% APY, 1 year

Inputs
  • Principal ($): 10000
  • APY (%): 4.5
  • Days Held: 365

Interest = $450, Balance = $10,450

Frequently asked questions

What's typical MMA rate?
3-5% APY typical; check current rates at banks
Min balance?
Varies; typically $1k-$25k