Phase Correct PWM library?

Acually I just opend some book about robitcs and arduino it explained alot of this in a simpler fashion so I could just get it going. One thing im not understanding is there are certain flags for the timers to set the PWM frequency the highest one is only 62khz.... Do these chips max out there, is there no flexablitiy to set custom frequencys. Im starting to wonder if ive made a bad choice here it will get the job done just not as well as I hoped.

Im really not understanding why I cant flip a pin at 100khz and then set a duty cycle...