how do i find the closed form solution of this differnce equation? pls help! (not in matlab script)

y_n=1.03(y_(n-1) )+(1.04)^n (500)-150

Answer 1

[ME]

Assuming you just want to find the equilibrium value rather than a solution for all time. Then just set y = y_n = y_(n-1) and rearrange to get the expression in terms of y. That will be your equilibrium value.