After receiving money from your summer internship, you decide to invest the money. Alternatively, you can save the money and assume it will earn 12% per year. You have two mutually exclusive options:

a. Invest the money with a guaranteed 12% annual return
b. Save the money and assume a 12% annual return
c. Invest the money in a risky venture with potentially higher returns
d. Invest the money in a savings account with a fixed interest rate