Example A:$$Your client would like to contribute $$12,000$ to a retirement account at the beginning of each year for the next $20$ years, earning an annual return of $6\%.$ The FV function calculates the client's retirement account would grow to $$467,913$ at the end of $20$ years assuming a $6\%$ return per year. Notice that the$$Type$$is coded a$1$as the payments are made at the beginning of each$$year$.$