Question $3$

$5$ pts

Suppose after you graduate, you and $9$ of your friends plan to set up a scholarship fund which gives out a yearly $$2,944$ scholarship to needy students, forever. If you find a mutual fund which guarantees an annual rate of return of $13\%$ on your initial deposit, how much would you all have to collect to start off the scholarship fund and never to add a penny to it ever again? $($Round your answer to a whole number$)$