Getting Started with Recurrence Relations
Ever wondered how your savings grow with compound interest or how populations change over time? Recurrence relations are mathematical sequences where each term builds on the previous one, making them perfect for modelling real-world situations.
The basic form is Un+1=aUn, where each new term equals the previous term multiplied by a constant. Terms are labelled U0,U1,U2... with U0 being your starting value.
Quick Tip: When dealing with percentages, remember that keeping 96% means multiplying by 0.96, while gaining 4% means multiplying by 1.04.
For investment problems, if £2000 grows at 4% annually, your recurrence relation becomes Un+1=1.04Un. After three years, you'd have £2249.72 - not bad for understanding one simple pattern!