Financial report context:
the fair value of our grants receivable is determined using a discounted cash flow model , which discounts future cash flows using an appropriate yield curve . as of december 28 , 2013 , and december 29 , 2012 , the carrying amount of our grants receivable was classified within other current assets and other long-term assets , as applicable . our long-term debt recognized at amortized cost is comprised of our senior notes and our convertible debentures . the fair value of our senior notes is determined using active market prices , and it is therefore classified as level 1 . the fair value of our convertible long-term debt is determined using discounted cash flow models with observable market inputs , and it takes into consideration variables such as interest rate changes , comparable securities , subordination discount , and credit-rating changes , and it is therefore classified as level 2 . the nvidia corporation ( nvidia ) cross-license agreement liability in the preceding table was incurred as a result of entering into a long-term patent cross-license agreement with nvidia in january 2011 . we agreed to make payments to nvidia over six years . as of december 28 , 2013 , and december 29 , 2012 , the carrying amount of the liability arising from the agreement was classified within other accrued liabilities and other long-term liabilities , as applicable . the fair value is determined using a discounted cash flow model , which discounts future cash flows using our incremental borrowing rates . note 5 : cash and investments cash and investments at the end of each period were as follows : ( in millions ) dec 28 , dec 29 .

Financial table:
( in millions ): available-for-sale investments; dec 282013: $ 18086; dec 292012: $ 14001
( in millions ): cash; dec 282013: 854; dec 292012: 593
( in millions ): equity method investments; dec 282013: 1038; dec 292012: 992
( in millions ): loans receivable; dec 282013: 1072; dec 292012: 979
( in millions ): non-marketable cost method investments; dec 282013: 1270; dec 292012: 1202
( in millions ): reverse repurchase agreements; dec 282013: 800; dec 292012: 2850
( in millions ): trading assets; dec 282013: 8441; dec 292012: 5685
( in millions ): total cash and investments; dec 282013: $ 31561; dec 292012: $ 26302

Additional report context:
in the third quarter of 2013 , we sold our shares in clearwire corporation , which had been accounted for as available-for-sale marketable equity securities , and our interest in clearwire communications , llc ( clearwire llc ) , which had been accounted for as an equity method investment . in total , we received proceeds of $ 470 million on these transactions and recognized a gain of $ 439 million , which is included in gains ( losses ) on equity investments , net on the consolidated statements of income . proceeds received and gains recognized for each investment are included in the "available-for-sale investments" and "equity method investments" sections that follow . table of contents intel corporation notes to consolidated financial statements ( continued ) .

Question: what percentage of total cash and investments as of dec . 29 2012 was comprised of available-for-sale investments?
Answer: 53%