You can't store this datatype directly into a table. You'll need to store
the data most likely as seconds (e.g., 1:09.65 will be stored as 69.65
seconds), and I would do this in a numeric field that has a Single field
size.

If you want to enter the data in the 1:09.65 format, you'll need to use a
textbox on a form to let you type that in, and then use programming to parse
it into the correct number of seconds. Same would be true if you want to
display the the data from seconds into your desired format.

1:09:65 or 1:09.65 which means one minute and 9 seconds and 65 hundredth of
a second. I also want to calculate with these values.