A bank is offering to sell 6-month certificates of deposit for $9,500. At the end of 6 months, the bank will pay $10,000 to the certificate owner. Based on a 6- month interest period, compute the nominal annual interest rate and the effective annual interest rate

The nominal annual interest rate and the effective annual interest rate is 10.52% and 10.80%.

The calculation is as follows:

Interest accrued after 6 months is;

= 10,000 - 9,500

= $500

For Nominal Interest;

500 = 4,750x

x = 10.53%

For effective interest

x = 10.80%

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The answer is $2399.44.hope this ! mark me as brainiest!