Two best friends, Natalie and Ann-Marie, who grew up together in the same neighbourhood and are the same age graduated from high school together. At age 22, both friends started working at different companies but earning similar salaries. Natalie started to save $35,000 at the beginning of each year at a rate of 15% for retirement, while Ann-Marie decided to "enjoy life". After 8 years the friends had a discussion about their financial happenings over the period. Their explanation for doing what they did with money was so convincing to the other. Ann-Marie wanted to do more with her money so she started investing the same $50,000 for retirement at the same 15% until she retired at age 60 (31 years later). Natalie realized she was not having as much fun so she decided to stop investing for a just a few years. However, she never managed to invest another dollar toward her retirement at age 60. Natalie did not touch her previous investment and it continued to earn interest until retirement.

1. How much did each lady invest towards their retirement at age 60, Natalie or Ann-Marie?

2. Calculate and state the value of Natalie's investment after 8 years.

3. Calculate and state the ladies' total retirement value at age 60.