The price of a good changes according to the recurrence equation2pr + Pi-1 = 30where pi is the price, in pounds, on the tth day.(1) If the price on the first day is £7, how does pi behave in the long-term?(ii) After how many days will the price be within a penny of its limiting value?

The recurrence equation is :The aim is to i) If the price on the first day is , How does,price on…

Answered: The price of a good changes according…

Algebra & Trigonometry with Analytic Geometry

13th Edition

ISBN:9781133382119

Author:Swokowski

Publisher:Swokowski

Chapter2: Equations And Inequalities

Section2.1: Equations

Problem 70E

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The price of a good changes according to the recurrence equation 2pt + Pt-1 = 30 where pt is the price, in pounds, on the tth day. (i) If the price on the first day is £7, how does pt behave in the long-term? (ii) After how many days will the price be within a penny of its limiting value?