You just obtained a $375,000 adjustable rate mortgage (ARM) with 30 year amortization and a 3 year reset period. Your starting interest rate for the loan is 2.5% and you believe that your rate in 3 years will rise to 3.25%. If you are correct, what will be your new mortgage payment at the start of the 4th year (i.e., right after the reset period)?"

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		"a. $1,481.70"
		"b. $1,493.53"
		"c. $1,618.65"
		"d. $1,518.18"