Hi. My first post and am hoping to get help. I have a problem where I have to distribute some prize money, halving the prize money each time until every participant receives their share and no money is left. For example, first place gets half the prize money. Second place gets half of what's left, etc. Last place gets remainder which was double the money given to the next to last place participant. The number of participants may vary for each event.

Would this be the formula?assuming there are 5 participants?.5(x^{5}+x^{4}+x^{3}+x^{2}+x) = 1

And how do you solve for 'X'?

Thanks.