You have just negotiated a home mortgage with a principal of $. The bank's quoted rate is %. You chose a -year amortization and you decide to make payments per year. Each mortgage payment is $. 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 nothing%. (Round to four decimal places as needed.)