Richdad III

Here is how money will be disbursed for this and all future Richdad contests. Contestants must join prior to the contest start date (October 3rd) to be considered for cash prizes. People joining AFTER this date will still be allowed to take place in the contest, but they will not be considered for cash prizes.

-The top 10% will win cash prizes in each contest.

-Each “prize winner” will receive 50% more than the “prize winner” directly below them in the rankings.

Here is an example…

-Lets assume there are 50 contestants so 5 "winners" (50 X 10%)
1=5.0625
2=3.375
3=2.25
4=1.5
5=1
___
13.1875

I got these numbers by assigning a number one for the last place (in our example that’s 5th place) and then by multiplying by %150 for the next place (or 1.5) each time.

(1 X 1.5=1.5 1.5 X 1.5=2.25 2.25 X 1.5=3.375 and finally 3.375 X 1.5=5.0625)

I then take all these number and add them together for a total of *13.1875*

Here we assume that we raised $500.00. We take 500 and divide by 13.1875 to get *37.91* (500/13.1875 = $37.91)

And finally we take the key number of $37.91 and multiply it by the number behind each place to see how much money they win.

1st =$191.92 (5.0625 X 37.91)
2nd = $127.95 (3.375 X 37.91)
3rd = $85.30 (2.25 X 37.91)
4th = $56.87 (1.5 X 37.91)
5th = $37.91 (1 X 37.91)
________________
$499.95 (due to rounding, so give them each and extra cent)

The advantage to this formula is that it can be applied to all contests, no matter how many people take place or how much money is raised.

If you are confused, don’t feel bad. Read though it a few times, and if you still have questions please email me at markdzimmer@yahoo.com

Good Luck With Everything!
MDZ