Final answer:
To calculate the principal that would earn $100 at a 3% annual interest rate in 3 months, use the simple interest formula. Solving the formula results in a principal amount of $13,333.33. Check the question and provided options as there seems to be a mismatch.
Step-by-step explanation:
The question is asking to find the principal needed to earn $100 in interest at a 3% annual rate over a period of 3 months. Since the interest is likely to be simple interest as opposed to compound interest, we can use the simple interest formula: Interest = Principal × rate × time. By substituting the given values, we get $100 = Principal × 0.03 (3% annual rate converted to decimal) × 0.25 (3 months is 1/4 of a year). Solving for Principal, we have Principal = $100 / (0.03 × 0.25) = $100 / 0.0075 = $13,333.33. However, none of the answer choices match this value, and it is possible there may have been an error in either the question options or the calculations. It is best to check the question and options provided once more for accuracy.