Homework: Mort - Interest - CFO Save Score: 0 of 1 pt 2 of 2 (0 complete) HW Score: 0%, 0 of 2 pts Problem 4.L04.16 (similar to) Question Help You have just negotiated a home mortgage with a principal of $400,000. The bank's quoted rate is 4.7%. You chose a 35-year amortization and you decide to make 12 payments per year. Each mortgage payment is $1,931.51. How much interest do you pay in the first year? Express your answer as a percentage of the total value of your mortgage payments in the first year. %. The interest as a percentage of the total payments in year 1 is (Round to four decimal places as needed.)