Make the calculation and give me the correct answer please

To determine the correct answers for each option, we need to calculate the principal repaid, interest paid, and outstanding balance for the given mortgage terms and payment frequencies.

### 1. Constant Monthly Payments
For a $700,000 mortgage at 7.5% annual interest rate with a 25-year amortization period:

1. **Monthly Interest Rate:**
   \[
   r = \frac{7.5\%}{12} = 0.625\%
   \]

2. **Number of Monthly Payments:**
   \[
   n = 25 \times 12 = 300
   \]

3. **Monthly Payment Formula:**
   \[
   M = P \frac{r(1+r)^n}{(1+r)^n - 1}
   \]
   Where $ P $ is the principal amount.

### 2. Biweekly Payments
For biweekly payments, the interest rate is adjusted, and payments are made every two weeks.

1. **Biweekly Interest Rate:**
   \[
   r_{biweekly} = \frac{7.5\%}{26} \approx 0.2885\%
   \]

2. **Number of Biweekly Payments:**
   \[
   n_{biweekly} = 25 \times 26 = 650
   \]

### 3. Accelerated Biweekly Payments
Accelerated biweekly payments involve making half of the monthly payment every two weeks.

1. **Biweekly Payment (Accelerated):**
   \[
   M_{biweekly} = \frac{M}{2}
   \]

Let's compute the necessary details using these formulas. We'll use a Python script to handle these calculations.

First, we calculate the monthly payment and biweekly payment.

### Python Code for Calculations
Let's proceed with the calculations using Python.Here are the calculations for each repayment option:

### Option 1: Constant Monthly Payments
- **Principal Repaid:** $32,102.16
- **Interest Paid:** $154,123.62
- **Remaining Balance:** $667,897.84

### Option 2: Biweekly Payments
- **Principal Repaid:** $32,043.29
- **Interest Paid:** $154,076.20
- **Remaining Balance:** $667,956.71

### Option 3: Accelerated Biweekly Payments
- **Principal Repaid:** $49,537.65
- **Interest Paid:** $152,206.94
- **Remaining Balance:** $650,462.35

Would you like further details or have any other questions?

Here are some questions you might want to ask next:
1. How do you calculate the monthly payment for a mortgage?
2. What is the formula for biweekly mortgage payments?
3. How do accelerated biweekly payments affect the mortgage term?
4. What is the difference between interest paid and principal repaid?
5. How to calculate the outstanding balance of a mortgage at any point?

**Tip:** Understanding the amortization schedule helps in planning your finances better as it shows the breakdown of each payment into principal and interest components.

Explore detailed calculations for mortgage payments including principal repaid, interest paid, and remaining balance. Compare monthly payments, biweekly payments, and accelerated biweekly payments for a $700,000 mortgage at 7.5% interest over 25 years. Understand how payment frequency affects total interest paid and loan duration.

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