Percentages are ratios of an amount compared to 100. The percent change of an old to new value is equal to 100% x \({ new - old \over old }\).

Frank loaned Monica $200 at an annual interest rate of 9%. If no payments are made, what is the total amount owed at the end of the first year?

$202 | |

$214 | |

$206 | |

$218 |