Consider a borrower that is approved for a standard 10-year, fully amortizing house mortgage with an original balance of $500,000 and a note rate(annual interest rate) of 4.8%.(Standard refers to a fixed rate mortgage contract with level payments.) What is the monthly mortgage payment for the borrower?
(a) $4,087
(b) $5,254
(c) $6,412
(d) $7,229