Let's roll up our sleeves and solve this. We have 1000 and we're going to multiply it by 60, essentially adding 1000 to itself 60 times.
Step 1: 0 + 1000 = 1000
Step 2: 1000 + 1000 = 2000
Step 3: 2000 + 1000 = 3000
Step 4: 3000 + 1000 = 4000
Step 5: 4000 + 1000 = 5000
Step 6: 5000 + 1000 = 6000
Step 7: 6000 + 1000 = 7000
Step 8: 7000 + 1000 = 8000
Step 9: 8000 + 1000 = 9000
Step 10: 9000 + 1000 = 10000
Step 11: 10000 + 1000 = 11000
Step 12: 11000 + 1000 = 12000
Step 13: 12000 + 1000 = 13000
Step 14: 13000 + 1000 = 14000
Step 15: 14000 + 1000 = 15000
Step 16: 15000 + 1000 = 16000
Step 17: 16000 + 1000 = 17000
Step 18: 17000 + 1000 = 18000
Step 19: 18000 + 1000 = 19000
Step 20: 19000 + 1000 = 20000
Step 21: 20000 + 1000 = 21000
Step 22: 21000 + 1000 = 22000
Step 23: 22000 + 1000 = 23000
Step 24: 23000 + 1000 = 24000
Step 25: 24000 + 1000 = 25000
Step 26: 25000 + 1000 = 26000
Step 27: 26000 + 1000 = 27000
Step 28: 27000 + 1000 = 28000
Step 29: 28000 + 1000 = 29000
Step 30: 29000 + 1000 = 30000
Step 31: 30000 + 1000 = 31000
Step 32: 31000 + 1000 = 32000
Step 33: 32000 + 1000 = 33000
Step 34: 33000 + 1000 = 34000
Step 35: 34000 + 1000 = 35000
Step 36: 35000 + 1000 = 36000
Step 37: 36000 + 1000 = 37000
Step 38: 37000 + 1000 = 38000
Step 39: 38000 + 1000 = 39000
Step 40: 39000 + 1000 = 40000
Step 41: 40000 + 1000 = 41000
Step 42: 41000 + 1000 = 42000
Step 43: 42000 + 1000 = 43000
Step 44: 43000 + 1000 = 44000
Step 45: 44000 + 1000 = 45000
Step 46: 45000 + 1000 = 46000
Step 47: 46000 + 1000 = 47000
Step 48: 47000 + 1000 = 48000
Step 49: 48000 + 1000 = 49000
Step 50: 49000 + 1000 = 50000
Step 51: 50000 + 1000 = 51000
Step 52: 51000 + 1000 = 52000
Step 53: 52000 + 1000 = 53000
Step 54: 53000 + 1000 = 54000
Step 55: 54000 + 1000 = 55000
Step 56: 55000 + 1000 = 56000
Step 57: 56000 + 1000 = 57000
Step 58: 57000 + 1000 = 58000
Step 59: 58000 + 1000 = 59000
Step 60: 59000 + 1000 = 60000

So, 1000*60 = 60000