Your grandfather will sell you a piece of beachfront property for 60,000. He says the price is firm whenever you can pay him cash. You know your finances will only allow you to save 6,400 a year and you can make 11% on your investment. If you invest faithfully every year at the end of the year, how long will it take for you to accumulate the necessary 60,000 future cash for the beachfront property?

How long will it take for you to accumulate the necessary 60,000 future cash for the beachfront property?

___Years. (Round to two decimal places)