Step 1 :(a) To solve the formula for $y$, we start with the given formula $T=\frac{r+s+y}{3}$. Multiply both sides by 3 to get $3T=r+s+y$. Then, subtract $r$ and $s$ from both sides to isolate $y$. So, $y=3T-r-s$.
Step 2 :(b) To find out what you must get on the third exam to have an average of $89\%$, we substitute $T=89$, $r=84$, and $s=89$ into the formula we just derived. So, $y=3*89-84-89$.
Step 3 :Calculate the right side of the equation to get $y=267-84-89$.
Step 4 :Further simplify to get $y=94$.
Step 5 :So, you must get a $94\%$ on the third exam to have an average of $89\%$. The final answer is \(\boxed{94}\).