2^10 = Kilo ~ 10^3
2^20 = Mega ~ 10^6
2^30 = Giga ~ 10^9
2^40 = Tera ~ 10^12
This is wrong - power-of-two magnitudes are called kibi-, mebi-, gibi- and tebibytes.
Kilo, Mega, Giga and Tera are prefixes used by the SI unit system, and denote powers of ten.The confusion comes from Microsoft using power of two numbers in calculations, but SI power of ten prefixes in labels.
A kilobyte is 1000 bytes, not 1024 bytes.