Chapter 14: Problem 18
Use the following formulas to find solutions to the subsequent equations. DifferenceEquation Solution $$ \begin{array}{ll} P_{t+1}-P_{t}=r P_{t}+b \quad P_{t}=-\frac{b}{r}+\left(P_{0}+\frac{b}{r}\right)(1+r)^{t} \\ a. \(P_{0}=2 \quad P_{t+1}-0.8 P_{t}=0\) b. \(P_{0}=2 \quad P_{t+1}-0.8 P_{t}=1\) c. \(P_{0}=2 \quad P_{t+1}-1.2 P_{t}=0\) d. \(P_{0}=2 \quad P_{t+1}-1.2 P_{t}=2\) e. \(P_{0}=2 \quad P_{t+1}-0.8 P_{t}=3+2 t\) f. \(P_{0}=2 \quad P_{t+1}-0.8 P_{t}=3 e^{t}\) g. \(P_{0}=2 \quad P_{t+1}-1.2 P_{t}=-1+4 t\) h. \(P_{0}=2 \quad P_{t+1}-1.2 P_{t}=2 e^{-t}\)
Short Answer
Step by step solution
Understanding the formula
Part a: Rearranging the equation
Part a: Solving for Pt
Part b: Rearranging the equation
Part b: Solving for Pt
Part c: Rearranging the equation
Part c: Solving for Pt
Part d: Rearranging the equation
Part d: Solving for Pt
Part e: Recognize the structure
Part f: Recognize exponential driving term
Part g: Handle non-linear term
Part h: Recognize exponential decay term
Unlock Step-by-Step Solutions & Ace Your Exams!
-
Full Textbook Solutions
Get detailed explanations and key concepts
-
Unlimited Al creation
Al flashcards, explanations, exams and more...
-
Ads-free access
To over 500 millions flashcards
-
Money-back guarantee
We refund you if you fail your exam.
Over 30 million students worldwide already upgrade their learning with 91Ó°ÊÓ!
Key Concepts
These are the key concepts you need to understand to accurately answer the question.
Linear Difference Equations
- A constant multiple of the current state \( P_t \) (represented by \( a \))
- A constant term \( b \)
Using the given exercise, for parts like a and c, where \( b = 0 \), the equations are considered homogeneous linear difference equations. It simplifies the solutions as there's no external forcing term (like a constant \( b \)). The solution depends purely on the initial value and the coefficient \( r \).
Analytical Solutions
- A particular solution for the entire equation, which accounts for the constant term \( b \)
- The homogeneous solution (where \( b = 0 \)) that represents the intrinsic behavior of the system
Time-dependent Terms
- Linear functions of time, such as the term \( 2t \) in part e
- Exponential functions of time, like \( 3e^t \) in part f or \( 2e^{-t} \) in part h