To find the closest fraction, we need to find the fraction with the smallest difference from 17/100.
We can find this by subtracting each fraction from 17/100 and comparing the absolute values of the differences.
The differences are: 
1/4 - 17/100 = 25/100 - 17/100 = 8/100 = 0.08
1/5 - 17/100 = 20/100 - 17/100 = 3/100 = 0.03
1/6 - 17/100 = 16/100 - 17/100 = -1/100 = 0.01
1/7 - 17/100 = 14/100 - 17/100 = -3/100 = 0.03
1/8 - 17/100 = 12/100 - 17/100 = -5/100 = 0.05
The fraction with the smallest difference is 1/6, which is closest to 17/100.
Therefore, the fraction closest to the fraction of medals Team Canada won is 1/6.
The answer is: \frac{1}{6}
Below is a math problem. Provide a detailed, step-by-step solution.

### Problem:
At the 2007 Math Olympics, Team Canada won 17 out of 100 medals. Which of the following fractions is closest to the fraction of medals they won: 1/4, 1/5, 1/6, 1/7, or 1/8?

### Answer:
