HSBC bank is offering loans at an interest rate of $5\mathrm{.}4\%$ per annum compounded semi$-$annually. What is the equivalent annual rate $($EAR$)?$

$($Do not round intermediate calculations. Report your result as a percentage. Round the final answers to $2$ decimal places. Omit the $\%$ sign in your response. For example, if your answer is $3\mathrm{.}21\%,$ just enter $3\mathrm{.}21)$

Numeric Response