Who can explain Steemit payout to a newbie?

First off I want to say that I'm not interested in upvotes for this post (that is not my intention) but rather the knowledge to know how Steemit operates. I think a majority of people have the same question.

Specifically the payout math per post. Is there a formula? Can anyone explain the payout per post?

I've been researching this topic for a few days now to understand the very mysterious Steemit payout system and I have to admit that I'm more confused now than before. I and others would like to hear from Steemians in the know.

Please resteem to your peers so we can get some solid explanations from those with the knowledge.

I thank you in advance for all comments or points in a direction to research / learn

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