Is it possible to select, mathematise and insert all in one query, or need I do it in my server langauge of choice?

firstly, I need to select and then insert as shown below.

Code MySQL:
select longitude
       , latitude
  from table
UPDATE address 
     SET latitude_miles = 69.1*latitude, 
         longitude_mpd = 69.1*cos(latitude*3.14159265/180);