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 Diane $300 at an annual interest rate of 1%. If no payments are made, what is the total amount owed at the end of the first year?
| $327 | |
| $303 | |
| $321 | |
| $306 |