Step 1 :Define the variables: \(P = 1\), \(r = 0.051\), \(n = 4\), \(t = 1\).
Step 2 :Calculate \(A\) using the formula \(A = P \times (1 + \frac{r}{n})^{n \times t}\).
Step 3 :Substitute the values into the formula to get \(A = 1 \times (1 + \frac{0.051}{4})^{4 \times 1} = 1.0519836921140666\).
Step 4 :Calculate the effective annual yield using the formula \((A - P) \times 100\).
Step 5 :Substitute the values into the formula to get \((1.0519836921140666 - 1) \times 100 = 5.1983692114066615\).
Step 6 :Round the effective annual yield to the nearest hundredth to get approximately 5.20%.
Step 7 :Final Answer: The effective annual yield is \(\boxed{5.20 \%}\).