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Default ROUNDUP to nearest 1/16 (in decimals)

How can I ROUNDUP a number to the nearest 1/16? I currently have a
column with 1/16 increments listed in decimals:
1/16 = 0.0625
1/8 = 0.125
3/16 = 0.1875
etc.

Do I simply do a lookup on that column? If so, how can I do this?

THANKS!
 
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