The value of $\frac{1}{16}$ is:

$\frac{1}{16} = 0.0625$

Would you like further details or have any questions?

Here are some related questions to deepen your understanding:

1. What is $\frac{1}{2}$ as a decimal?
2. How would you convert $\frac{3}{16}$ into a decimal?
3. What is $0.0625$ as a fraction in its simplest form?
4. How do you calculate $\frac{1}{16}$ as a percentage?
5. How can you visualize $\frac{1}{16}$ on a number line?

Tip: Converting fractions to decimals can be done by dividing the numerator by the denominator using long division.