(Solving for n withnon-annual periods)Approximately how many years would it take for an investment to grow fourfold if it were invested at 16 percent compounded monthly? Assume that you invest $1 today.

If you invest $1 at 16 percent compounded monthly, about how many years would it take for your investment to grow fourfold to $4? (Hint: Remember to convert your calculator solution toyears.)

years(Round to one decimalplace.)