Answer
False.
Work Step by Step
If $P$ is the principal or present value,
$r$ is the annual interest rate,
$t$ is time in years, and
$m$ is the number of compounding periods per year,
Compound amount= $A=P(1+\displaystyle \frac{r}{m})^{tm}$
$....................................$
Here, P=2000, r=0.04, $tm=2\cdot 12=24,$
$A=2000(1+\displaystyle \frac{\fbox{$0.04$}}{12})^{24}.$
The statement is false.
