No. (10 x 20 x 12) = 2,400 cubic inches = 10.39 gallons.
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2000 Gallons
The capacity of the tank is 12.468 gallons (rounded) for each inch the tank is long.
500 / (16 x 12) = ~2.604 gallons/inch
If the base of the tank ... where it sits on the floor or on its bracket ... is a (4-ft by 11-ft) rectangle, then it's holding 27.43 gallons for every inch deep.
It is the formula to find the area of a circle.