$=\frac {1}{3}+\frac {1}{6}+\frac {1}{12}+ \frac {1}{24}+\frac {1}{48}+\frac {1}{48}-\frac {1}{48}$
$=\frac {1}{3}+\frac {1}{6}+\frac {1}{12}+ \frac {1}{24}+\frac {1}{24}−\frac {1}{48}$
$=\frac {1}{3}+\frac {1}{6}+ \frac {1}{12}+\frac {1}{12}- \frac {1}{48}$
$=\frac {1}{3}+\frac {1}{6}+\frac {1}{6}-\frac {1}{48}$
$=\frac {1}{3}+\frac {1}{3} -\frac {1}{48}$
$= \frac {2}{3}−\frac {1}{48}$
$=\frac {31}{48}$