Final answer:
To find the opening price of the stock, we can subtract the 5% gain from the current price. The opening price of the stock in the beginning of the day was approximately $36.47.
Step-by-step explanation:
To find the opening price of the stock, we need to deduct the 5% gain from the current price of $34.65.
Let x be the opening price.
Since the stock gained 5%, the opening price minus 5% of the opening price equals the current price: x - 0.05x = 34.65.
Simplifying the equation, we get 0.95x = 34.65. To solve for x, divide both sides of the equation by 0.95.
The opening price of the stock in the beginning of the day was approximately $36.47.