Question: Consider the difference equation Y t + 1 = 1 . 5 9 Y t + 8 . 6 where t = 0 , 1

Consider the difference equation

Yt+1=1.59Yt+8.6

wheret=0,1,2,... is a time index.

It is known that the sequenceY0,Y1,Y2,... converges to some finite constantA in the long run, that is, ast grows to infinity.

What is the value of the initial termY0 , to two decimal places?

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