Answer
Option: $D$
Work Step by Step
The given expression is $(3x-2y)^2$.
We know that $(a-b)^2=a^2-2ab+b^2$.
Substituting $a=3x$ and $b=2y$, we get
$(3x-2y)^2=(3x)^2-2(3x)(2y)+(2y)^2$
$(3x-2y)^2=9x^2-12xy+4y^2$
Therefore the equivalent expression is option $D$.