What's the annual percentage yield for money invested at the rate of $4.8 \%$ compounded quarterly?
Answer:
Convert your answer into a percentage. Round your answer to 2 decimal places.

Step 1 ：Given that the annual interest rate is 4.8%, which is 0.048 in decimal form, and the interest is compounded quarterly, which means 4 times a year. We are looking for the annual yield, so the time the money is invested for is 1 year.

Step 2 ：Using the formula for APY, which is APY = \((1 + r/n)^{nt} - 1\), where r is the annual interest rate (in decimal), n is the number of times that interest is compounded per year, and t is the time the money is invested for in years.

Step 3 ：Substitute the given values into the formula: APY = \((1 + 0.048/4)^{4*1} - 1\)

Step 4 ：Calculate the result to get the annual percentage yield.

Step 5 ：Final Answer: The annual percentage yield for money invested at the rate of 4.8% compounded quarterly is \(\boxed{4.89 \%}\)