If the price of an additional bear drops by fifty after the first purchase, the price of each additional bear is $4.00 - $0.50 = $<<4-0.5=3.50>>3.50
Since Wally bought 101 bears, he was charged fifty cents less on 101-1 = <<101-1=100>>100 bears.
The total cost for the 100 bears is 100*$3.50 = $<<100*3.5=350>>350
For the 101 bears, Wally paid a total of $350+$4 = $<<350+4=354>>354
#### 354