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These are Accounting/Economics Questions: A 30-year mortgage has an interest rate of 5% per year compounded monthly (360 total payments)

Accounting

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These are Accounting/Economics Questions:

1. A 30-year mortgage has an interest rate of 5% per year compounded monthly (360 total payments). The initial principal is $250,000. What is the monthly payment?
2. For the previous problem, how much interest is paid over the life of the mortgage?
3. A loan of $30,000 is to be paid off in 60 equal monthly payments of $490.53 with the first payment made at end of month 1. What is the periodic (monthly) interest rate?
4. For the previous problem, what is the nominal annual interest rate?