๐Ÿ’ฐ APY Calculator

Calculate Annual Percentage Yield and Discover Your True Earning Potential

๐Ÿ“Š Calculator Inputs

%
Please enter a valid APR between 0% and 100%
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$
%

๐Ÿ“ˆ Your Results

Annual Percentage Yield (APY)
5.12%
Effective Annual Rate Difference
+0.12%
Total Value After 5 Years
$12,833.59
Total Interest Earned
$2,833.59
๐Ÿ’ก
Quick Action Items

    ๐ŸŽฏ Try These Real-Life Scenarios

    Click any scenario to instantly see how different life situations affect savings growth

    ๐Ÿ‘จโ€๐ŸŽ“
    College Student
    โ€ข Initial: $500
    โ€ข Monthly: $100
    โ€ข Time: 2 years
    โ€ข APY: 4.5%
    Result: $2,912
    ๐Ÿ’ผ
    Young Professional
    โ€ข Initial: $10,000
    โ€ข Monthly: $800
    โ€ข Time: 5 years
    โ€ข APY: 4.8%
    Result: $61,734
    ๐Ÿ‘จโ€๐Ÿ‘ฉโ€๐Ÿ‘ง
    Young Family
    โ€ข Initial: $5,000
    โ€ข Monthly: $300
    โ€ข Time: 18 years
    โ€ข APY: 4.5%
    Result: $126,845
    ๐Ÿ†
    Mid-Career
    โ€ข Initial: $50,000
    โ€ข Monthly: $1,500
    โ€ข Time: 20 years
    โ€ข APY: 4.2%
    Result: $704,387
    ๐ŸŽฏ
    Pre-Retirement
    โ€ข Initial: $200,000
    โ€ข Monthly: $2,000
    โ€ข Time: 10 years
    โ€ข APY: 4.0%
    Result: $545,276
    ๐Ÿ–๏ธ
    Retiree
    โ€ข Initial: $500,000
    โ€ข Monthly: $0
    โ€ข Time: 15 years
    โ€ข APY: 3.5%
    Result: $844,706

    โš–๏ธ See The Dramatic Difference

    Small changes create massive results - here's the proof

    ๐Ÿ’ฐ The $200/Month Difference
    WITH CONTRIBUTIONS
    โ€ข Initial: $5,000
    โ€ข Monthly: $200
    โ€ข 10 years @ 4.5%
    Final: $36,568
    VS
    WITHOUT CONTRIBUTIONS
    โ€ข Initial: $5,000
    โ€ข Monthly: $0
    โ€ข 10 years @ 4.5%
    Final: $7,839
    ๐Ÿ’ก Difference: $28,729 from just $200/month! That's nearly 4X more money.
    ๐Ÿฆ The 1% APY Difference
    HIGH-YIELD (4.5%)
    โ€ข Initial: $10,000
    โ€ข Monthly: $500
    โ€ข 10 years @ 4.5%
    Final: $88,765
    VS
    TRADITIONAL (0.5%)
    โ€ข Initial: $10,000
    โ€ข Monthly: $500
    โ€ข 10 years @ 0.5%
    Final: $73,051
    ๐Ÿ’ก Difference: $15,714 from shopping for rates! Same effort, way more money.
    โฐ The Early Start Advantage
    START AT 25
    โ€ข Initial: $1,000
    โ€ข Monthly: $300
    โ€ข 40 years @ 4.5%
    Final: $439,625
    VS
    START AT 35
    โ€ข Initial: $1,000
    โ€ข Monthly: $300
    โ€ข 30 years @ 4.5%
    Final: $251,602
    ๐Ÿ’ก Difference: $188,023 from starting 10 years earlier! Time is your superpower.
    ๐Ÿ“Š Inflation Reality Check
    NOMINAL VALUE
    โ€ข Initial: $50,000
    โ€ข Monthly: $500
    โ€ข 20 years @ 4.5%
    Final: $254,971
    VS
    REAL VALUE (3% INFLATION)
    โ€ข Same scenario
    โ€ข Adjusted for 3% inflation
    โ€ข Real purchasing power
    Real: $154,661
    ๐Ÿ’ก You "made" $204K but only BOUGHT $104K more! Always consider inflation.

    ๐Ÿ“Š Compounding Frequency Comparison

    Compounding Frequency Times Per Year APY Value After 5 Years Interest Earned

    ๐Ÿ“ˆ Growth Projection Over Time

    ๐Ÿงฎ How APY Calculation Works

    Annual Percentage Yield (APY) represents the real rate of return earned on an investment or savings account when you account for the effect of compounding interest. Unlike APR (Annual Percentage Rate), APY includes the compounding effect, giving you a more accurate picture of what you'll actually earn.

    APY = (1 + r/n)โฟ - 1
    r Annual interest rate (APR) expressed as a decimal (e.g., 5% = 0.05)
    n Number of compounding periods per year (daily = 365, monthly = 12, etc.)
    APY The effective annual rate of return, expressed as a percentage

    Example: If you have a savings account with 5% APR compounded monthly, the APY is calculated as: (1 + 0.05/12)ยนยฒ - 1 = 0.0512 or 5.12%. This means you'll actually earn 5.12% over the year, not just 5%, due to the power of compound interest.

    ๐Ÿ’ก Financial Tips & Best Practices

    โœ… Compare APY, Not Just APR

    Always compare APY when shopping for savings accounts or CDs. Two accounts with the same APR can have different APYs due to compounding frequency.

    โšก More Frequent = Better

    Daily compounding yields more than monthly, which yields more than quarterly. The difference might seem small but adds up over time.

    ๐ŸŽฏ High-Yield Savings

    Online banks often offer higher APYs (4-5%) compared to traditional banks (0.05-0.50%). Shop around for the best rates.

    โฐ Time is Your Friend

    The longer you keep money in an account, the more powerful compounding becomes. Start saving early to maximize returns.

    โŒ Avoid Early Withdrawals

    For CDs and some high-yield accounts, early withdrawals can result in penalties that negate your interest gains.

    ๐Ÿ“Š Monitor Rate Changes

    APY can change based on Federal Reserve decisions. Regularly review your accounts to ensure you're getting competitive rates.

    ๐Ÿ’ต Power of Consistent Contributions

    Adding even $100-200 monthly can triple your savings growth. Regular contributions harness compound interest on every deposit, dramatically accelerating wealth building.

    ๐Ÿ“‰ Watch Real Returns

    Always consider inflation when evaluating APY. A 5% APY with 3% inflation means your real purchasing power only grows by 2%. Target APYs that beat inflation.

    โš ๏ธ Common Mistakes to Avoid

    โ“ Frequently Asked Questions

    1. What's the difference between APR and APY? โ–ผ
    APR (Annual Percentage Rate) is the simple interest rate without considering compounding effects, while APY (Annual Percentage Yield) includes the impact of compound interest. APY is always equal to or higher than APR, and the difference increases with more frequent compounding. For example, 5% APR with monthly compounding becomes 5.12% APY. Always compare APY when evaluating different savings accounts or investments to see what you'll actually earn.
    2. How accurate is this APY calculator? โ–ผ
    This calculator uses the standard mathematical formula (1 + r/n)โฟ - 1 used by financial institutions, making it highly accurate for theoretical calculations. However, actual returns may vary slightly due to factors like how banks handle partial days, minimum balance requirements, and monthly fees. The calculator assumes consistent compounding throughout the period and doesn't account for additional deposits, withdrawals, or promotional rates that expire.
    3. Does more frequent compounding really make a big difference? โ–ผ
    Yes, but the difference diminishes as compounding frequency increases. With 5% APR, daily compounding yields 5.127% APY while monthly yields 5.116% APY โ€“ a difference of only 0.011%. On a $10,000 deposit over 5 years, that's about $6 extra. However, the jump from annual to monthly compounding is more significant (about $57). The biggest gains come when moving from annual compounding to more frequent periods.
    4. When should I use this calculator instead of other financial calculators? โ–ผ
    Use this calculator when comparing savings accounts, CDs, or money market accounts that advertise APR but you want to know the true annual return (APY). It's perfect for determining which account offers better returns when they have different compounding frequencies. For investment accounts with regular contributions, use a compound interest calculator instead. For loans or credit cards where you're paying interest rather than earning it, use an APR calculator or loan calculator.
    5. What's considered a good APY in today's market? โ–ผ
    As of 2024-2025, high-yield savings accounts offer APYs between 4-5%, while traditional bank savings accounts offer 0.05-0.50% (with the national average around 0.40%). The Federal Reserve's interest rate decisions heavily influence these rates. A "good" APY is one that beats inflation while meeting your liquidity needs. Online banks typically offer the highest APYs due to lower overhead costs. Compare current rates at multiple institutions and consider factors beyond APY, such as FDIC insurance, fees, minimum balance requirements, and ease of access.
    6. Can APY change after I open an account? โ–ผ
    Yes, most savings accounts and money market accounts have variable APYs that can change at any time based on market conditions and Federal Reserve policy. Banks typically lower rates when the Fed cuts rates and raise them when the Fed increases rates. CDs (Certificates of Deposit) lock in a fixed APY for the term length, protecting you from rate decreases but preventing you from benefiting from increases. Always read the account terms to understand whether the rate is fixed or variable.
    7. How does APY affect my retirement savings? โ–ผ
    Over long periods like retirement savings, even small differences in APY create substantial wealth differences due to compound interest. A 1% higher APY on $100,000 over 30 years results in approximately $76,000 more. This is why maximizing APY in retirement accounts matters. However, for retirement savings, consider diversified investments (stocks, bonds) rather than just high-APY savings accounts, as historically stocks have delivered higher long-term returns despite short-term volatility.
    8. Do I pay taxes on APY earnings? โ–ผ
    Yes, interest earned from savings accounts, CDs, and money market accounts is taxable as ordinary income at your marginal tax rate. Banks report interest earnings over $10 on Form 1099-INT. If you're in the 24% tax bracket and earn 5% APY, your after-tax return is effectively 3.8%. Tax-advantaged accounts like Roth IRAs or 529 plans can help you avoid or defer taxes on earnings. Consider your tax situation when comparing different savings strategies.
    9. What happens to my APY if I make additional deposits? โ–ผ
    The APY rate itself doesn't change with additional deposits, but your total earnings will increase proportionally. If you add money throughout the year, each deposit starts earning interest from its deposit date, not from the beginning of the year. For calculations involving regular deposits, you'll need a compound interest calculator with periodic contributions rather than this APY calculator, which assumes a single initial deposit.
    10. Should I choose a CD or high-yield savings account? โ–ผ
    CDs typically offer higher APYs than savings accounts but lock up your money for a fixed term (3 months to 5+ years) with early withdrawal penalties. Choose CDs if you won't need the money before maturity and want to lock in a guaranteed rate. Choose high-yield savings accounts if you need flexibility to access funds without penalties. Consider a CD ladder strategy โ€“ spreading money across multiple CDs with different maturity dates โ€“ to balance higher returns with some liquidity.
    11. How does inflation impact the real value of my APY? โ–ผ
    Your "real return" is APY minus inflation rate. If you earn 5% APY but inflation is 3%, your real return is only 2% โ€“ meaning your purchasing power grows by 2%. During high inflation periods, even high-APY savings accounts may lose real value. This is why financial advisors recommend keeping only emergency funds (3-6 months expenses) in savings accounts and investing longer-term money in diversified portfolios that historically outpace inflation.
    12. What's the difference between APY and compound interest? โ–ผ
    APY is a standardized way to express the annual rate of return including compound interest effects, while compound interest is the method of calculating interest where you earn interest on previously earned interest. APY is the result; compounding is the process. Think of it this way: compound interest is what makes your money grow faster over time, and APY is the percentage that expresses how much faster. The APY formula specifically captures the boost you get from compound interest occurring multiple times per year.
    13. How do monthly contributions affect my savings growth? โ–ผ
    Monthly contributions dramatically accelerate your savings growth through the power of dollar-cost averaging and consistent investing. For example, starting with $10,000 at 5% APY grows to $16,289 after 10 years. But adding just $200/month grows your balance to $47,601 โ€“ nearly 3x more! Each contribution starts earning compound interest immediately, creating a snowball effect. The calculator shows you exactly how much faster your money grows with regular contributions versus a one-time deposit, helping you visualize the impact of consistent saving habits.
    14. What is Real APY and why does inflation matter? โ–ผ
    Real APY is your actual purchasing power gain after accounting for inflation. If you earn 5% APY but inflation is 3%, your Real APY is only 2% โ€“ meaning your money's buying power only increased by 2% that year. This calculator shows both nominal returns (what you see in your account) and real returns (what you can actually buy). During high inflation, even "high-yield" accounts can lose purchasing power if the APY doesn't exceed inflation. Understanding Real APY helps you make smarter decisions about whether savings accounts are truly growing your wealth or just preserving it.

    โš ๏ธ Important Disclaimer

    No Financial Advice

    This APY Calculator is provided strictly for educational and informational purposes only. The information, calculations, scenarios, and comparisons presented on this page do not constitute financial, investment, tax, or legal advice. We are not financial advisors, and this tool should not be used as a substitute for professional guidance from a qualified financial advisor, accountant, or attorney.

    Theoretical Projections

    All results, future values, and projections shown are theoretical and based solely on the inputs you provide. Actual returns may differ significantly due to factors including but not limited to: changes in interest rates, account fees, early withdrawal penalties, minimum balance requirements, rate tiers, promotional rate expirations, market conditions, and institution-specific terms and conditions.

    No Guarantee of Accuracy

    While we strive for accuracy, we make no representations or warranties regarding the completeness, accuracy, reliability, or timeliness of any information or calculations provided. Interest rates change frequently, and the rates shown in examples or scenarios may not reflect current market conditions. Always verify current rates directly with financial institutions.

    Past Performance

    Historical interest rates, past performance, and previous results do not guarantee or predict future returns. Economic conditions, Federal Reserve policy, inflation rates, and other macroeconomic factors can significantly impact savings account yields.

    Individual Circumstances

    Every individual's financial situation is unique. Factors such as your age, income, expenses, debt obligations, risk tolerance, investment goals, time horizon, and tax situation should all be considered when making financial decisions. Always consult with a qualified financial professional who understands your specific circumstances before making any financial decisions.

    FDIC Insurance & Institutional Risk

    While FDIC insurance protects deposits up to $250,000 per depositor, per insured bank, per ownership category, not all accounts at all institutions are FDIC-insured. Always verify FDIC insurance status before opening an account. We are not responsible for the financial stability of any banking institution or for any losses incurred.

    Calculator Limitations

    This calculator uses standard mathematical formulas for compound interest and future value calculations. It does not account for: account fees, monthly maintenance charges, ATM fees, wire transfer fees, non-sufficient funds fees, rate tiers based on balance, promotional rates with expiration dates, tax implications, state-specific regulations, or institution-specific terms and conditions.

    Third-Party Information

    Examples, scenarios, and case studies presented may be based on hypothetical situations or aggregated data. Any references to specific financial institutions, products, or rates are for illustrative purposes only and do not constitute recommendations or endorsements.

    Your Responsibility

    It is your responsibility to: (1) Verify all information independently, (2) Read and understand the terms and conditions of any financial product before opening an account, (3) Compare multiple institutions and products, (4) Consult with qualified professionals, and (5) Make decisions based on your own research and circumstances. By using this calculator, you acknowledge that you understand these limitations and agree to use the tool at your own risk.

    ๐Ÿ’ผ For personalized financial advice, please consult a certified financial planner (CFP), registered investment advisor (RIA), or qualified financial professional in your jurisdiction.

    ๐Ÿ“š Educational Resources & Sources

    This calculator was developed using authoritative sources and best practices in financial education. Below are valuable resources for further learning about APY, compound interest, savings strategies, and personal finance.

    ๐Ÿ›๏ธ Government & Regulatory

    • Federal Deposit Insurance Corporation (FDIC)
      www.fdic.gov
      Bank deposit insurance, financial education, and consumer protection resources
    • Federal Reserve
      www.federalreserve.gov
      Interest rates, monetary policy, and economic education
    • Consumer Financial Protection Bureau (CFPB)
      www.consumerfinance.gov
      Consumer rights, complaint resolution, and financial education tools
    • U.S. Bureau of Labor Statistics
      www.bls.gov/cpi
      Consumer Price Index (CPI) and inflation data

    ๐Ÿ“– Financial Education

    • MyMoney.gov
      www.mymoney.gov
      U.S. government's financial literacy website
    • Investor.gov
      www.investor.gov
      SEC's investor education and protection resources
    • National Endowment for Financial Education (NEFE)
      www.nefe.org
      Non-profit dedicated to financial education
    • Khan Academy - Finance & Capital Markets
      www.khanacademy.org
      Free courses on interest, compound interest, and finance basics

    ๐Ÿ’ฐ Rate Comparison

    ๐Ÿ“Š Methodology & Calculations

    The APY calculations in this tool are based on the standard compound interest formula recognized by financial institutions and regulatory bodies:

    APY = (1 + r/n)โฟ - 1

    Where r is the annual interest rate (APR) as a decimal, and n is the number of compounding periods per year. This formula is consistent with the Truth in Savings Act (Regulation DD) which requires financial institutions to disclose APY using a standardized calculation method.

    Future value calculations with monthly contributions use the annuity formula:

    FV = P(1+r)แต— + PMT ร— [(1+r)แต— - 1] / r

    Where P is principal, r is the periodic interest rate, t is time in periods, and PMT is the regular payment amount. Inflation adjustments use the standard purchasing power formula with compound inflation rates.

    ๐ŸŽ“ Professional Financial Guidance

    For personalized financial advice, consider consulting with certified professionals from these organizations:

    Note: Links to external websites are provided for convenience and educational purposes. We do not endorse, control, or assume responsibility for the content of these third-party sites. Always verify information independently and use your judgment when accessing external resources.

    ร—

    ๐Ÿ“– Financial Glossary

    Quick reference guide to financial terms

    APR (Annual Percentage Rate)
    The simple interest rate advertised by banks, calculated once per year without considering the effects of compounding. It's the "base" rate before any magic of compound interest happens.
    Example: A savings account with 5% APR means if you had $1,000, you'd earn $50 in simple interest over one year (5% of $1,000).
    See also: APY, Compound Interest
    APY (Annual Percentage Yield)
    The real rate of return on your money after accounting for compound interest. This is what you'll ACTUALLY earn, not just the advertised rate. APY is always equal to or higher than APR when compounding occurs more than once per year.
    Example: 5% APR compounded monthly becomes 5.116% APY. That extra 0.116% is the power of compounding at work!
    See also: APR, Effective Rate
    Compound Interest
    Interest calculated on both the initial principal AND the accumulated interest from previous periods. In simple terms: you earn interest on your interest! This is what makes money grow exponentially over time.
    Example: Year 1: $1,000 earns $50 (5%). Year 2: $1,050 earns $52.50 (5%). That extra $2.50 in Year 2 is compound interest!
    See also: APY, Simple Interest
    Compounding Frequency
    How often interest is calculated and added to your account balance. Common frequencies include daily (365 times/year), monthly (12 times/year), quarterly (4 times/year), or annually (once/year). More frequent = higher returns!
    Example: Daily compounding at 5% APR gives you 5.127% APY, while annual compounding gives you exactly 5.000% APY.
    See also: APY, Compound Interest
    High-Yield Savings Account
    A savings account that offers significantly higher interest rates than traditional bank accounts, typically 10-20X more. Usually offered by online banks with lower overhead costs. As of late 2024/early 2025, offering 4-5% APY vs traditional 0.05-0.50% APY (with national average around 0.40%).
    Example: $10,000 in a traditional account (0.5% APY) grows to $10,511 in 10 years. In a high-yield account (4.5% APY), it grows to $15,530 โ€“ over $5,000 more!
    See also: APY, FDIC Insurance
    Certificate of Deposit (CD)
    A savings product that holds your money for a fixed period (term) at a guaranteed interest rate. You can't withdraw without penalties, but you get higher rates than regular savings. Terms range from 3 months to 5+ years.
    Example: A 5-year CD at 5% APY guarantees that rate for the entire term. If rates drop to 2%, you still get 5%. But if rates rise to 7%, you're stuck at 5%.
    See also: APY, Liquidity
    Money Market Account
    A hybrid between a savings account and checking account. Typically offers higher interest rates than regular savings, with some checking features like limited checks or debit card access. Often requires higher minimum balances.
    Example: You might earn 4% APY on a money market account while still having the ability to write a few checks per month, unlike a CD where your money is locked up.
    See also: High-Yield Savings, Liquidity
    Inflation
    The rate at which the general level of prices for goods and services rises, eroding purchasing power. If inflation is 3%, you need 3% more money next year to buy the same things. This is why your APY needs to beat inflation!
    Example: A $4 coffee today will cost $5.24 in 10 years at 3% inflation. Your savings need to grow faster than that to maintain buying power!
    See also: Real APY, Purchasing Power
    Real APY (Real Return)
    Your actual gain in purchasing power after accounting for inflation. Calculated as: Nominal APY minus Inflation Rate. This tells you if you're truly getting richer or just keeping pace with rising prices.
    Example: If you earn 5% APY but inflation is 3%, your Real APY is only 2%. Your money grew 5%, but prices grew 3%, so you only gained 2% in buying power.
    See also: Inflation, Nominal Return
    Nominal Return
    The stated or "face value" return on an investment before adjusting for inflation. This is the number you see in your account balance, but it doesn't reflect actual purchasing power changes.
    Example: Your account shows $10,000 grew to $11,000 (10% nominal return). But if inflation was 8%, your real return is only 2% in terms of what you can actually buy.
    See also: Real Return, Inflation
    Time Value of Money
    The financial concept that money available today is worth more than the same amount in the future due to its earning potential. A dollar today can be invested to earn interest, making it worth more than a dollar received later.
    Example: Would you rather have $1,000 today or $1,000 in 5 years? Today is better! Invest that $1,000 at 5% APY and you'll have $1,276 in 5 years.
    See also: Compound Interest, Present Value
    Emergency Fund
    Money set aside specifically for unexpected expenses or financial emergencies (job loss, medical bills, car repairs). Financial advisors recommend 3-6 months of living expenses in a liquid, accessible account like high-yield savings.
    Example: If your monthly expenses are $3,000, aim for $9,000-$18,000 in a high-yield savings account earning 4-5% APY, accessible within 24 hours if needed.
    See also: Liquidity, High-Yield Savings
    Liquidity
    How quickly and easily you can access your money without losing value. Cash is perfectly liquid. Savings accounts are highly liquid. CDs are less liquid (early withdrawal penalties). Real estate is illiquid (takes months to sell).
    Example: Your high-yield savings account is liquid โ€“ you can transfer money within 1-3 days. Your 5-year CD is illiquid โ€“ withdrawing early costs you 6 months of interest.
    See also: Emergency Fund, CD
    FDIC Insurance
    Federal insurance that protects bank deposits up to $250,000 per depositor, per bank, per ownership category. If the bank fails, the government guarantees your money back. This makes savings accounts essentially risk-free up to this limit.
    Example: You have $200,000 in a high-yield savings account. Even if the bank goes bankrupt tomorrow, you're fully protected and will get your money back.
    See also: High-Yield Savings, Money Market Account
    Dollar-Cost Averaging
    An investment strategy where you invest fixed amounts at regular intervals (like $200/month) regardless of market conditions. For savings, this means consistent contributions that all start earning compound interest at different times, accelerating growth.
    Example: Adding $200/month to savings means your January deposit earns interest for 12 months, February's for 11 months, etc. This consistent approach builds wealth faster than timing the market.
    See also: Compound Interest, Monthly Contributions
    Future Value (FV)
    The value of a current asset or series of payments at a specified date in the future, assuming a certain growth rate (like APY). This calculator shows you the future value of your savings based on your inputs.
    Example: The future value of $10,000 today at 5% APY for 10 years is $16,289. That's what you'll have in your account after 10 years.
    See also: Present Value, Compound Interest
    Present Value (PV)
    The current value of a future sum of money, discounted back to today using a specific rate. Essentially asking: "How much would I need to invest TODAY to have X amount in the future?"
    Example: If you need $50,000 in 10 years and can earn 5% APY, you need to invest $30,696 today. That's the present value of your $50,000 goal.
    See also: Future Value, Time Value of Money
    Effective Annual Rate (EAR)
    Another term for APY. It's the "effective" rate you earn annually after accounting for compounding, as opposed to the "nominal" or stated APR rate.
    Example: If a bank advertises 5% APR compounded monthly, the Effective Annual Rate (APY) is actually 5.116%, which is what you really earn.
    See also: APY, Nominal Rate
    Opportunity Cost
    The potential benefit you miss out on when choosing one alternative over another. In savings, keeping money in a 0.5% account when you could get 4.5% elsewhere has a huge opportunity cost.
    Example: $10,000 in a 0.5% traditional account for 10 years = $10,511. Same money in a 4.5% high-yield account = $15,530. Your opportunity cost of staying with the traditional bank is $5,019!
    See also: Real Return, Time Value of Money