How do I add calculated fields in a table (like in a spreadsheet)

How do I add calculated fields in a table (like in a spreadsheet)

I have a table and I'd like to add a field that is calculated based on the values of other fields (like I could in a spreadsheet).  Is this possible?  I am pretty sure that I could do this with a query table, but I'd like to avoid using SQL if there is an easier alternative.

I guess what I'm looking for is something more like a cross between database tables and spreadsheets.

Any suggestions?

Thanks,