I need a formula to calculate prize money for a tournament. I need to take the prize money available and pay out to 1 in 4 participants, the minimum prize is equal to the entry fee ($20).
For example, if we have 8 participants and the prize money is $70, we'll pay out 2 places and the 2nd place would be at least $20. Prize money should be paid out in variables of $5 (5, 10, 15, 20, etc).
For example, if we have 8 participants and the prize money is $70, we'll pay out 2 places and the 2nd place would be at least $20. Prize money should be paid out in variables of $5 (5, 10, 15, 20, etc).
