thought out, open ended explanations for these questions

1. From chapter 2 and 3 , we studied the financial statements. a. Describe why the financial statements are important. (1.5 points) b. Describe how you could apply what you learned to real life. (1.5 points) 2. From chapter 4 and 5 , we studied the time value of money (TVM). a. Describe why the TVM is important. (1.5 points) b. Describe how you could apply the TyM to real life. (1.5 points) 3. From chapter 6 and 7, we studied how to value financial securities. a. Describe how we applied the TVM when valuing financial securities. (1.5 points) 4. From chapter 11 and 12, we studied "risk and return" and the "weighted cost of capital" (WACC). a. Describe why companies need to care about the WACC. (1.5 points) b. Describe what makes the WACC increase or decrease. ( 1 point)