What would the purchase for a $5,000 91 - day T-bill paying 3% interest

You have to multiply the t-bill interest of 3% to the number of days which is 91, being 2.73.

Next step, 2.73 must be divided by the number of days in a year which is 360 = 0.00758.

Then, deduct 0.00758 from 2.73 which is 2.7224

Lastly, multiply it to 1000 which will result to $2,722.44. That is the purchase price.