Money Market Interest Calculator is an online personal finance tool to calculate final return on an opening deposit and series of yearly deposits for a particular period of time. Opening deposit, annual contribution, interest rate and maturity period are the key terms to figure out the total return on the MMA or MMDA account.
Money Market Interest is defined as an Interest on the money deposited in a MMA - Money Market Account or MMDA - Money Market Deposit Account offered by a bank. The deposited amount will be invested in government and corporate securities and pays the depositor interest based on current interest rates in the money markets. It would require higher minimum balance to earn interest usually money market accounts provides relatively higher rate of interest rate. Interest rates may change any time without notice. The market account is almost as safe as savings account and the interest earned will be credited and compounded on monthly basis. When it comes to online calculation, this MMA interest calculator assist you to determine the maturity amount you will recieve at the end of maturity period.