Calculations assignments assess your ability to apply the formulas in the textbo

Calculations assignments assess your ability to apply the formulas in the textbook and common standard mathematical calculations. For this assignment, you will practice planning for large purchases and evaluating their impact on your budget.
Assignment Prompt
Calculations
Use your budgeted income and expenses from Module 2 to calculate the most expensive home you should consider purchasing. Use the following hypothetical information to complete your calculations:
You have an available down payment of $20,000.
You are eligible for a 30-year fixed rate mortgage at 6% interest.
You do not want to spend more than $1500 a month on all housing expenses.
Expected closing costs paid by the buyer are $3000.
Estimated property tax is $1500 per year.
Estimated homeowner’s insurance is $1000 per year.
Estimated maintenance is $150 per month.
Estimated additional utilities are $60 per month.
Reflection
Once you have completed the tax forms, write a brief essay (2–3 paragraphs) that addresses the following questions:
Based on these calculations, what changes will you need to make to your budget to accommodate this change?
Are you confident you could afford a house in the calculated price range?
Submission Guidelines
You may use https://www.nerdwallet.com/mortgages/how-much-house-can-i-afford/calculate-affordability
to an external site. to assist you in your calculations, but you must show all calculations. Remember to adjust the inputs to match your budgeted income and expenses.
Assignments submitted as an answer to the calculation without showing how the answer was calculated will receive a score of zero.
The content of your reflective paper should be a minimum of 2-3 paragraphs in length, double-spaced, in 12 pt. font, and submitted as a PDF document.
Include an introduction that presents your stance on the questions that you are responding to and a conclusion that ties all your points together.
Submit two separate documents to for this assignment in Canvas: Submit your calculations on an Excel spreadsheet and your reflection essay as a PDF document.

Evaluation
You will be evaluated on this assignment based on the following criteria:
Calculations (15 pts): Calculations accurately implement values provided in the prompt and from the student’s budgeted income and expenses. All work is demonstrated on the spreadsheet, and all values inputted to complete the calculations are indicated.
Reflective Essay (10 pts): The essay addresses the assignment prompts fully and thoughtfully with supporting explanations and meets the length requirements. Content is clearly and logically presented, with all required elements of the assignment. Formatting and citations consistently adhere to APA style guidelines. Writing is professional and carefully proofread.
Use the info from the attachments to complete assignment