Hi, I need the Excel Formula for the below. Thanks much.

A business takes out a 10-year loan for $250,000 at 5.3% interest compounded monthly. What are the formulas to calculate how much interest the business will pay in the first year and how much the business will repay toward the principal? What are the resulting values? Calculate the total cost of the loan in terms of the total interest paid through the l0 years of the loan