Lester hopes to earn $$500$

in interest in $4\mathrm{.}8$

years time from $$50,000$

that he has available to invest. To decide if it's feasible to do this by investing in an account that compounds semi$-$annually, he needs to determine the annual interest rate such an account would have to offer for him to meet his goal. What would the annual rate of interest have to be$?$ Round to two decimal places