The wet dog surf company borrows $32,000 for 4 months and will pay $1,120.00 interest . calculate wet dog's annual percentage interest rate (apr) (rounded to two decimal places).

10.5%

Explanation:

Amount borrowed = 32,000

Interest amount = 1120 for 4 months

Interest paid in 12 months = 1120*3 = 3360

Interest %age = (3360/32000)*100

                        = 10.5%