how to solve these questions?

9. Which personal financial statement is forward looking? a. O Statement of net worth b. Cash flow statement 10. Which of the following questions do time value of money concepts help answer? a. O How much should I save to reach my retirement goals? b. O How much car can I afford? c. O Time value of money concepts help answer both of these questions. 11. Which of the following best describes how individuals should treat the results of a time value of money analysis? a. Time value of money is based on known data, so the results need not be revisited. Because known data is already proven correct, a new analysis is generally not needed. b. O Time value of money is based on assumptions, so the results should be revisited regularly. Assumptions may prove incorrect, goals may change, and a new analysis may be needed. c. O Time value of money is based on assumptions, but the results don't need to be revisited regularly. While assumptions may prove incorrect, and goals may change, the original result generally approximates reality. Therefore a new analysis is typically not needed. 12. Which of the following is an example of needs-based financial aid? a. Federal Pell Grants b. O Federal Direct unsubsidized loans Federal PLUS Loans C. 13. Assume your cost of attendance this year is $40,000. Your expected family contribution is $20,000, and you received $5,000 of scholarships. What is the maximum non-needs based financial aid you can receive? a. O $35,000 b. O $20,000 $15,000 C