If you already have the 16GB created, that's fine the way it is. I just used 20 as a nice round number.
The IS database and log files locations can be adjusted after Exchange installation. In Exchange System Manager, expand the Organization, then the Admin Group, then Servers, and then your server object. The log file locations are associated with the Storage Group object. You can right click on that to set the location.
The IS locations are adjusted under their respective Public or Private objects in the Storage Group tree.
With just 3 drives, one RAID unit partioned into several drives as above is fine. In a heavier used Exchange environment, you need more advanced RAID features; for 20-50 users though, your setup is fine.