To find the volume of the rectangular prism with the same base and height as the pyramid, we first need to recall the formulas for the volumes of both shapes.
The volume \( V \) of a pyramid is given by the formula:
\[ V = \frac{1}{3} \times \text{Base Area} \times \text{Height} \]
The volume \( V \) of a rectangular prism is given by the formula:
\[ V = \text{Base Area} \times \text{Height} \]
Since the volume of the pyramid is given as 480 cubic inches, we can set up the equation for the pyramid:
\[ 480 = \frac{1}{3} \times \text{Base Area} \times \text{Height} \]
To find the volume of the prism, we can multiply both sides of the pyramid's volume equation by 3:
\[ 3 \times 480 = \text{Base Area} \times \text{Height} \]
Calculating the left-hand side:
\[ 1440 = \text{Base Area} \times \text{Height} \]
Thus, the volume of the rectangular prism, which has the same base area and height as the pyramid, is:
\[ \text{Volume of the prism} = 1440 \text{ in}^3 \]
So the volume of the rectangular prism is \( \boxed{1440} \text{ in}^3 \).