Yani has $12,000 for investment purposes. His bank has offered the following three choices:

a. A special savings certificate that will pay $100 each month for 5 years and a lump sum payment at the end of 5 years of $13,000.

b. Buy a share of a racehorse for $12,000 that will be worth $20,000 in 5 years.

c. Put the money in a savings account that will have an interest rate of 12% per year compounded monthly.

Use a future worth analysis to make a recommendation to Yani. Please show all excel steps and formulas.