A quote of 110'16 means 110 and 16/32, or 110.50 in decimal. Platforms append extra digits for fractions of a 32nd: 110'165 is 110 and 16.5/32, 110'1625 is 110 and 16.25/32. The apostrophe or hyphen separates the whole points from the 32nds.
Getting this wrong is a classic beginner error, because 110'16 looks like 110.16 and is actually 110.50 — a difference of $340 per contract. Converting is simply the 32nds figure divided by 32.
Example: buy zn at 110'085 and sell at 110'115. That is 110 + 8.5/32 to 110 + 11.5/32, a move of 3/32 = 6 ticks of half a 32nd, worth 6 x $15.625 = $93.75 per contract.
Related: zn, zb, treasury-futures, tick-size, handle