Create a model to determine the amount of prize money

A high school is having a talent contest and will give different prizes for the best 5 acts in the show. First place wins the most money, and each place after that wins 50 less than the previous place. Create a model that can be used to determine the total amount of prize money based on the value of the first place.

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The first place is awarded the most, and each place after that wins 50 less than the previous place.

x = amount of money for first place
x - 50 = amount of money to second place
x - 100 = amount of money to third place
x - 150 = amount of money to fourth place
x - 200 = amount of money to fifth place

Total money given out would be:
x + x - 50 + x - 100 + x - 150 + x - 200 {added the amounts together}
Total =  5x - 500  {simplified}

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