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Accelerated Mortgage Payments
Normally, when you calculate a fixterm mortgage with any payment schedule, be it monthly, biweekly, or weekly, the goal is to pay off the loan at the end of the term. The more frequent you pay, the less interest will accrue, and you save money on the interest. Take a 15year, $200,000 loan with an interest rate of 7.5% for example:
The accelerated biweekly payment is, take the monthly payment above (as if you were to pay off the loan in 15 years) and divide it by 2, enforcing a fictitious 28day month.
Accelerated BiWeekly Payment = Monthly Payment ÷ 2 = $920.51
Notice that this amount ($920.51) is significantly higher than the normal biweekly payment ($848.30), resulting in the loan being paid off much earlier than the original term of 15 years, therefore the acceleration.
Accelerated weekly is essentially the same as accelerated biweekly, except that the payment amount is calculated by dividing the monthly payment by 4, instead of 2. 
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