You have just negotiated a home mortgage with a principal of $400,000. Thebank's quoted rate is 6.3%. You chose a 35-year amortization and you decide to make 12 payments per year. Each mortgage payment is $2,339.85. How much interest do you pay in the firstyear? 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 ? answer should be rounded to four decimal places