You can put this solution on YOUR website!
A real life problem I wish I had!!
Total prize is $270,000.
Winner receives 1/2 so 270,000/2 = 135,000
That leaves another 135,000 remaining
Runner up (2nd place) receives 1/4 so 270,000/4 = 67500
That leaves 270,000 - 135,000 - 67,500 = 67500
The next 3 places receive this amount divided equally among them.
67500/3 = $22,500
Going back to the original problem, how much did the 5th place finisher receive?
I'd be happy with 5th place! Would you settle for 5th? ;-)