Step 1 :The given series is an alternating series. The error in approximating the sum of an alternating series by the sum of the first N terms is less than or equal to the absolute value of the (N+1)th term. So, we need to find the smallest N such that the (N+1)th term is less than or equal to \(10^{-4}\).
Step 2 :By calculating, we find that the smallest value of N that approximates S to within an error of at most \(10^{-4}\) is \(\boxed{6}\).
Step 3 :Now, let's calculate the approximate value of the series sum up to the 6th term.
Step 4 :By calculating, we find that the approximate value of the series sum up to the 6th term is \(\boxed{0.9720800630144033}\).