James took out a bank loan of 14,000. When he started his job, his salary was 19,000 per year. After one year, he had a pay rise of 1500. At the end of each full year of work:

- 9% of his earnings above 16 365 go towards paying off his loan

- interest of 1.5% of the outstanding amount is added to his loan. How much will James still owe after 2 full years of work?