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A bank is advertising 9.5% accounts that yield 9.84% annually. How often is the interest compounded?

Answer is Quarterly.

I've been trying to look for the formula for this; it doesn't seem to be effective rate:

$$ER = (1+i)^m - 1$$

or Nominal Rate

$$i = NR/m$$

What should I be using?

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The quarterly compound rate: \begin{align*} \Big(1+\frac{0.095}{4}\Big)^4 - 1= 9.84\,\%. \end{align*}

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