Answer:
The annual percentage yield (APY) is the effective annual rate of return on an investment, taking into account the effects of compounding. To calculate the APY, we can use the formula:
APY = (1 + (APR / n))^n - 1
Where APR is the annual percentage rate (the stated interest rate), and n is the number of times the interest is compounded per year.
In this case, the APR is 4.86% and the interest is compounded daily, so n = 365 (the number of days in a year).
APY = (1 + (0.0486 / 365))^365 - 1
Plugging in the numbers, we get:
APY = (1 + 0.000132876712328767123)^365 - 1
APY ≈ 4.87%
So, the annual percentage yield is 4.87%