Unlock the potential of your savings with our comprehensive Money Market Calculator. Easily estimate the total interest you could earn and the future value of your investment based on your initial deposit, Annual Percentage Yield (APY), and investment term. Ideal for financial planning and understanding your investment growth.
Formula:
Future Value (A) = P × (1 + r)t
Total Interest Earned = A - P
Where:
P = Initial Deposit (Principal)
r = Annual Percentage Yield (APY, as a decimal, e.g., 2.5% = 0.025)
t = Investment Term in Years