The formula to calculate the Pell Number for the Nth term is:
\[ P_n = 2P_{n-1} + P_{n-2} \]
Where:
Pell numbers are a sequence of integers that are solutions to the Pell equation, a specific type of Diophantine equation. The sequence begins with \( P_0 = 0 \) and \( P_1 = 1 \), and each subsequent number is the sum of twice the previous Pell number and the Pell number before that. Pell numbers have applications in number theory and the approximation of square roots.
Let's assume we want to find the Pell number for the 5th term (N = 5):
The Pell number for the 5th term is 29.