You can also build a router jig out of pegboard or hardboard.
Cut a scrap piece of pegboard (or any wood for that matter, pegboard just has some holes already. If you use hardboard, you can drill your own hole) into a 5" x 3' piece. In your case, you would only need a piece about 12" long, since the center of your circle will be 5" from the router bit.
Remove the base plate of your router, and screw the wood to the router using countersunk screws. You will have to cut an opening for your router bit to fit through. Now just measure the desired distance from the router bit and drill a hole at the centerpoint of your circle. If your really wanted a 10" wooden disc, then measure 5" from the inside of the router bit, if you wanted a 10" hole, then measure from the outside of the router bit

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Opps, I should mention that this process is easier with a plunge router. I've done it with a fixed base router, but it is tricky to start the cut...