Answer:
The correct option is 1. The rate of change is 2%.
Step-by-step explanation:
The general growth function is
.... (1)
Where, P is initial value and r is rate of change.
The given exponential function for compounding interest is
The given function can be written as
..... (2)
From (1) and (2) we get
In % it can be written as
Therefore the correct option is 1. The rate of change is 2%.