Costs of owning a racehorse
You might have found it difficult choosing which racehorse you would like to buy. The purchase costs are clear, but each racehorse had different extra costs. The jockey’s cost was expressed as an annual salary while the training costs were recorded as a monthly figure.
You’ll now need to work out:
- (a) What the total cost will be for owning the racehorse over a two-year period.
- (b) What the average cost will be each month.
You might want to try to estimate which racehorse will be the most expensive and which will be the cheapest before you attempt this calculation.
Download ‘Costs of owning a racecourse & you’ spreadsheet
Right click on ‘Download spreadsheet’ and click on ‘Save Target As’ to save a copy of the spreadsheet on your computer. If you choose not to save this spreadsheet on your computer, your work will be lost when you go back into the Training Zone.
The average costs for each month are worked out by dividing the total costs by the number of months that you owned the racehorse.
Can you then graph your results to show what happens to the average costs over time? Why do the average cost figures behave this way?