Gonzalo wants to start saving money in order to purchase a new car and not have to borrow any money. If Gonzalo deposited $14,500 into an account that earns 5.5% compounded monthly, and Gonzalo plans to only use the money in this account to cover the cost car and not add any additional money to this account, how long would it take for the amount in this account to grow to $22,500, which is estimated to be the cost of a new car? Round your answer to two decimal places.
years