.Explanation
The question gives us an exponential equation and asked that we determine the growth rate
Growth rates refer to the percentage change of a specific variable within a specific time period
From the given expression:

If we are to deduce the growth rate, then we will have to compare it with the general formula

The growth factor is the factor by which a quantity multiplies itself over time. The growth rate is the addend by which a quantity increases (or decreases) over time
Thus, in our case

Thus

Hence, the growth rate is 0.03
Because the account increases by 0.03 overtime
The answer is 0.03