Emma notices that since her credit card balance compounds monthly, she is charged more than 15% of her initial loan amount in interest each year. She wants to know how much she would pay if the card were compounded annually at a rate of 15%.

Which expression could Emma use to evaluate her balance with an annual compounding interest rate?
a.) 300(1.15)^t
b.) 300(1.015)^12t
c.) 300(1.15)^12t
d.) 300(1.0125)^t