You have graduated from college but unfortunately have $39,000 in outstanding loans. The loans require payments of $3,510 per year, which covers interest and principal repayment (that is, the loan has the same basic features as a mortgage). If the interest rate is 3 percent, how long will it take you to repay the debt? Use Appendix D to answer the question. Round your answer up to the next whole number.

If the powers that be raise the rate to 6 percent, how many additional years will be required to retire the loans? Use Appendix D to answer the question. Round your answer up to the next whole number.