I may be in the wrong location for this, but I'm trying to create a formula that I can key into Excel. If I know the formula, I can key it in, but I can't figure out what the formula is.
Here is the problem.
At the end of our bowling league, we'll be awarding money to each team. So, team one may get 30 percent of the total pot, team 2 may get 20 percent of the pot, and so on and so forth until we've used up 100 percent of the prize fund.
The number of teams changes each season, so I'd like to have a forumla that allows me to key in the number of teams. By looking at the number of teams, the forumla (I hope), will be able to tell me how much of a percentage each team should be awarded. The spread will be the same between teams. So, if the the last place team is awarded 2% of the money and the spread is 3%, then the next to last place team will be awarded 5%, and the next place team will be awarded 8% and so on and so forth.
Can any of you help me with this forumla?
Here are the figures:
100 = percentage of money to be given out
N = number of teams
S = spread of percentage won from one team to the next
I don't think we need any more numbers, I just can't figure out the formula.