I have 3 minutes to solve questions like these:
Someone invested $\$2,000$ in a fund with an interest rate of $1\%$ a month for $24$ months. Consider it to be compounded interest. What will be the accumulated value of the investment after $24$ months?
Remember, I am not allowed to use a calculator or any electronic device. Only pencil and pen.
Anyone have an idea how to solve this very fast within 3 minutes?
Edit [by SN]:
Logarithm tables are not allowed either.
This is a multiple choice question; the options are: