A medical school student opens a credit card to pay for living expenses during their first year of medical school. The student expects to pay $12,500 in living expenses. The credit card company charges an annual interest rate of 15.99% compounded continuously. If no payments are made for three years, what will be the balance on the card rounded to the nearest penny?
$20,194.87
$20,129.60
$18,496.25
$14,667.42