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 . ( in millions )                        | dec 282013 | dec 292012
available-for-sale investments         | $ 18086    | $ 14001   
cash                                   | 854        | 593       
equity method investments              | 1038       | 992       
loans receivable                       | 1072       | 979       
non-marketable cost method investments | 1270       | 1202      
reverse repurchase agreements          | 800        | 2850      
trading assets                         | 8441       | 5685      
total cash and investments             | $ 31561    | $ 26302    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 is the balance of total cash and investments as of december 28, 2013?
Steps: Ask for number 31561
Answer: 31561.0
Question: what about in 2012?
Steps: Ask for number 26302
Answer: 26302.0
Question: what is the change in balance?

Read the following texts and table with financial data from an S&P 500 earnings report carefully.Based on the question-answer history (if provided), answer the last question. The answer may require mathematical calculation based on the data provided.
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 . ( in millions )                        | dec 282013 | dec 292012
available-for-sale investments         | $ 18086    | $ 14001   
cash                                   | 854        | 593       
equity method investments              | 1038       | 992       
loans receivable                       | 1072       | 979       
non-marketable cost method investments | 1270       | 1202      
reverse repurchase agreements          | 800        | 2850      
trading assets                         | 8441       | 5685      
total cash and investments             | $ 31561    | $ 26302    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 is the balance of total cash and investments as of december 28, 2013?
Steps: Ask for number 31561
Answer: 31561.0
Question: what about in 2012?
Steps: Ask for number 26302
Answer: 26302.0
Question: what is the change in balance?
