Tonia - Is that the whole question you were set word for word? If so then it's possibly a trick question...
Firstly.. An object reaches terminal velocity (eg it no longer accelerates) when the objects weight is exactly balanced by air drag. When that happens there is no net force acting on the object so it stops accelerating and continues falling at a constant velocity. To work out what the terminal velocity is you need to know the objects weight, and drag coefficient (which aren't stated in the question it seems).
But never mind there is a worse problem that will actually make it easier to answer the question! The problem is that air drag is also proportional to velocity. So as the object accelerates drag increases and that reduces the rate of acceleration.
To understand this consider this problem... Imagine you are standing 16 meters away from a wall. Each time your teacher rings a bell you are to walk forwards reducing the distance between you and the wall by a half. How many rings of the bell until you reach the wall?
Ring , Distance
0 , 16
1 , 8
2 , 4
3 , 2
4 , 1
5 , 0.5
6 , 0.25
7 , 0.125
8 , 0.0625
etc
In theory you get closer and closer but you never actually reach the wall.
The terminal velocity question is a similar problem. Unless there is more information in the question a valid answer is that the object never quite reaches terminal velocity (before it hits the ground), although it might come exceptionally close to terminal velocity somewhere along the way.
This is also what harpspex is hinting at. To calculate the distance you not only need to know the weight and drag coefficient but you also need to know "how close is close enough"? Within 5%? Within 1%?