[tex]\bf ~~~~~~ \textit{Annual Yield Formula}
\\\\
~~~~~~~~~~~~ \left(1+\frac{r}{n}\right)^{n}-1
\\\\
\begin{cases}
r=rate\to 4.8\%\to \frac{4.8}{100}\to &0.048\\
n=
\begin{array}{llll}
\textit{times it compounds per year}\\
\textit{monthly, thus twelve}
\end{array}\to &12
\end{cases}
\\\\\\
\left(1+\frac{0.048}{12}\right)^{12}-1\qquad \approx \qquad 0.0490702075348
\\\\\\
0.0490702075348\cdot 100\implies 4.90702075348\quad \approx\quad 4.91\%[/tex]
