Express recurrence in closed form

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I am having trouble understanding the process of expressing the following recurrence in its' closed form.

First of all, I do not really understand what "closed form" means. If someone could elaborate a little bit on this, it would be much appreciated.

Second, Could you explain the nature of the function itself, as in, what it is explicitly trying to do?

Here is the recurrence function:

$$F_{0} = 7$$

$$F_{N} = 5F_{N-1} + 3, \ \ ( N > 0 ).$$

Express $F_{N}$ in closed form

The final answer, should be the following:

$$\frac{31\cdot(5^N) - 3}{ 4}$$

Thank you so much for your help and additional explanations you may throw in. I am very lost in regards to what to do.

J.

UPDATE

Some of the process is here:

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HINT

You have already the "final" exprssion :

$f(n) = (31 \times 5^n -3)/4$.

What you have to do is to prove - by induction - that it holds, i.e. that it satisfies the recurrence relation for $f(n)$.

(i) base case : $n=0$

For $n=0$ the recursive definition of $f(n)$ has : $f(0)=7$.

We have to check that it matches with the closed expression :

$$f(0) = (31 \times 5^0 -3)/4 = (31 -3)/4 = 28/4 = 7.$$

It's Ok.

(ii) induction step : assume that it holds for $n$ and show that it holds for $n+1$.


For the closed form, we can try with :

$f(n) = ac^n+b$.

For $n=0$ we have : $f(0)=7=a+b$; thus :

$a = 7-b$.

Using the recurrence relation : $f(n+1)=5f(n)+3$ we have : $ac^{n+1}+b=5(ac^n+b)+3$.

With $c=5$ we can compute $b = - \frac {3}{4}$ and so : $a = 7-b = 7 + \frac {3}{4} = \frac {31}{4}$.