Time to repay installment loan$$Personal Finance Problem$$Mia Salto wishes to determine how long it will take to repay a $$$$13$ comma $000$ loan given that the lender requires her to make annual$$ end$-$of$-$year installment payments of $$$$2$ comma $492.$

a$.$If the interest rate on the loan is $11\%,$ how long will it take for her to repay the loan$$ fully?

b$.$How long will it take if the interest rate is $8\%?$

c$.$How long will it take if she has to pay $14\%$ annual$$ interest?

d$.$ Reviewing your answers in parts a$,$ b$,$ and c$,$ describe the general relationship between the interest rate and the amount of time it will take Mia to repay the loan fully.

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Part $1$

a$.$ If Mia can borrow at an annual interest rate of $11\%,$ the amount of time it will take for her to repay the loan fully is

$$

enter your response here years.$($Round to two decimal$$ places.$)$