Hi Scott
This one seems to work:
=PERCENTRANK($A$1:$A$20,B1)
equals
(1/(ROWS($A$1:$A$20)-1))*(ROWS($A$1:$A$20)-RANK(B1,$A$1:$A$20))
which equals
1 - (RANK(B1,$A$1:$A$20)-1)/(ROWS($A$1:$A$20)-1)
Or if N is the amount of numbers (here 20):
1 - (RANK(B1,$A$1:$A$20)-1)/(N-1)
or in plain text:
1 - (RankOfNumber-1)/(AmountOfNumbers-1)
Finally it looks as if PERCENTRANK() rounds down to 3 decimals, so
ROUNDDOWN(1 - (RankOfNumber-1)/(AmountOfNumbers-1),3)