Environmental recovery company RexChem Partners plans to finance a site reclamation project that will require a 4-year cleanup period. If the company borrows $4.1 million now, how much will the company have to get at the end of each year in order to earn 15% per year, compounded quarterly on its investment? Calculate the answer using both formula and spreadsheet function?
In order to earn 15% per year compounded quarterly on its investment at the end of each year, the company will have to get $