1. **State the problem:** Calculate the product of 298765 and 99999. 2. **Formula used:** Multiplication of two numbers is done by multiplying each digit and adding appropriately. 3. **Intermediate work:** Multiply 298765 by 99999 can be rewritten as $298765 \times (100000 - 1)$. 4. **Simplify:** $$298765 \times 99999 = 298765 \times 100000 - 298765 \times 1$$ $$= 29876500000 - 298765$$ 5. **Calculate:** $$29876500000 - 298765 = 29876201235$$ 6. **Final answer:** $$298765 \times 99999 = 29876201235$$ This method uses the distributive property to simplify the multiplication.