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Your best friends Jason and David share a condo near Concordia University that they rent. Tensions have been high over finances. Jason: (currently 24 years
Your best friends Jason and David share a condo near Concordia University that they rent. Tensions have been high over finances. Jason: (currently 24 years old, birthday was June 20, 2022): - graduated in April 2022 but is not looking for work as he is not sure what he wants to do; - never had a full nor part-time job; - parents provided Jason with a lump sum each month for his tuition, books, rent, living expenses etc. while he was in school; they continue to do so as they believe he is actively looking for work and they wish to support him during this time; and - has never contributed to his Tax-Free Savings Account (TFSA) nor his Registered Retirement Savings Plan (RRSP). David (currently 22 years old, birthday is on November 27, 2022): - graduating in December 2022i - on a tight budget; has been working since 2020 part-time earning $14,000 a year; parents are helping him with his tuition and expenses; and - to date he has contributed $5,000 to his Tax-Free Savings Account (TFSA) but has not yet contributed to his Registered Retirement Savings Plan (RRSP). d) Both names are on the Montreal lease agreement along with the hydro and internet bills. Jason always took care of making the monthly bill payments which made it easy for David. David simply e-transferred a lump sum based on Jason's monthly calculations. It was only once Jason won the money from the video gaming tournament that David realized that Jason had not paid the rent, nor the utility bills for some time. David found out as Jason came clean when discussing what he should do with his winnings, pay the overdue bills, or invest the money. Provide two potential financial impacts these non-payments could have on David. (.5 mark- .25 marks each)
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