After owning his home for 4 years, Braxton wants to refinance his mortgage interest rate from 4.5% to 3.75%. If his current mortgage payment on his 20-year mortgage is $2,636.72 and he will refinance the unpaid balance for 30 years, what is Braxton's new monthly payment (in dollars)?
a) $2,068.65
b) $2,208.29
c) $2,448.92
d) $2,609.37
