I'm probably being a bit thick but isn't there another aspect to this? The quality of the jpeg i.e. the amount of compression applied.
I've never really understood this myself so I just used a 4245 x 2830 pixel image (12mp) and saved it as a jpeg via photoshop four ways:
Jpeg quality Max = 5.7mb
Save for web high = 1mb
Save for web medium = 352kb
Save for web low = 242kb
The smallest file size is still a 12mp file, perfectly useable on the web (not ideal but not so huge it's unusable), looks fine on screen but will not look great printed.
If I was doing this, I would just resize to 12mp and then save as a low quality jpeg by selecting low quality in the "Save for web" dialogue. (You could do both at once that dialogue.) Or save it with the normal "save as" but select jpeg quality 0. You'll get a slightly smaller file doing it the "Save for web" way.
Btw, I know this doesn't deal directly with the original question about upsizing. For the use the client wants, by the time the image is compressed to hell, they'll never be able to tell it was upsized
Btw2, I'm not saying that you
should compromise your image i this way - I wouldn't want to, pride in work and all that - but you
could if you wanted to.