[tex]\bf \qquad \qquad \textit{Annual Yield Formula}
\\\\
\qquad \qquad \left(1+\frac{r}{n}\right)^{n}-1
\\\\
\begin{cases}
r=rate\to 6.5\%\to \frac{6.5}{100}\to &0.065\\
n=
\begin{array}{llll}
\textit{times it compounds per year}\\
\textit{continuously, 365 days, thus}
\end{array}\to &365
\end{cases}
\\\\\\
\left(1+\frac{0.065}{365} \right)^{365}\implies 0.06715284876964462628
\\\\\\
\textit{which rounds up to }\approx 0.0672\qquad 0.0672\cdot 100\approx 6.72\%[/tex]
