What is a closed form solution?

In summary, a closed form solution is an explicit expression that provides a direct formula to calculate the output of a mathematical problem without the need for iterative methods or numerical approximations. It typically involves a finite number of standard operations (such as addition, subtraction, multiplication, division, and exponentiation) and allows for instant computation of results for any given input within its defined domain.
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What is the definition of a closed form solution in math? Where did the term originate? When is it preferred?
Hi friends, I was wondering if you could give the definition of 'closed form', with examples of closed form solutions and open? form solutions.

Foe example, is this a closed form solution?
$$\sum_{k=1}^\infty \frac{1}{2^k}$$

Or this?
$$\sum_{k=1}^5 \frac{1}{2^k}$$

Thanks.
 
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