Problem:
Charlotte's Clothing issued a 5% bond with a maturity date of 15 years. Five Years have passed and the bond is selling for $690.
Required:
Question 1: What is the current yield?
Question 2: What is the yield to maturity?
Question 3: If 5 years later the yield to maturity is 10%, what will be the price of the bond?
Note: Explain all steps comprehensively.