We want to find the opening price of the stock in the beginning of the day. We will find that the solution is $89.50.
Let's say that the opening price of the stock was X.
Then, it is increased 6% to get to $94.87
This means that the 106% of X is equal to $94.87, then we can solve:
1.06*X = $94.87
Where we wrote 106% in decimal form, now we can just solve this for X:
X = $94.87/1.06 = $89.50
This means that the price of the stock in the beginning of the day was $89.50
If you want to learn more about percentages, you can read:
https://brainly.com/question/843074
