This statement makes sense, the money in the account will grow by the same percentage (3%), which is an example of exponential growth... I don't know if this is the answer that you were looking for, but here it is.
Exponential growth is a pattern of data that shows greater increases with passing time. It is growth that increases at a consistent rate. Money in a bank account earning compound interest at an annual percentage rate 3% is an example of exponential growth because each year the feedback from the bank will be higher than the previous.
