Answer:
The price of the stock in the beginning of the day was $26.5.
Step-by-step explanation:
This question can be solved using a rule of three.
The initial stock of the company, that we want to find, was 100% = 1.
$27.03 is an increase of 2%, so it is 100+2 = 102% = 1.02%. So
$27.03 - 1.02
$x - 1
[tex]1.02x = 27.03[/tex]
[tex]x = \frac{27.03}{1.02}[/tex]
[tex]x = 26.5[/tex]
The price of the stock in the beginning of the day was $26.5.
