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:

