In this example we are multiplying two binomials so FOIL method can be used.

$$ \begin{aligned} \left( \color{blue}{ 7y+1}\right) \cdot \left( \color{orangered}{ 8y-3}\right) &= \underbrace{ \color{blue}{7y} \cdot \color{orangered}{8y} }_{\text{FIRST}} + \underbrace{ \color{blue}{7y} \cdot \left( \color{orangered}{-3} \right) }_{\text{OUTER}} + \underbrace{ \color{blue}{1} \cdot \color{orangered}{8y} }_{\text{INNER}} + \underbrace{ \color{blue}{1} \cdot \left( \color{orangered}{-3} \right) }_{\text{LAST}} = \\ &= 56y^2 + \left( -21y\right) + 8y + \left( -3\right) = \\ &= 56y^2 + \left( -21y\right) + 8y + \left( -3\right) = \\ &= 56y^2-13y-3; \end{aligned} $$

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