Scientific notation is a useful way to write a large number in short hand. This is only useful when the number you are shortening a large number with several 0's at the end of the number ex: 100 or 10000000 or 4000
to write in scientific notation you use the format x*10^n, where all the digits at the beginning of the number before you get to the 0's is x. But before we put x in the equation you need to place a decimal after the first digit. in your example 1,030,000 x=1.03 ( notice the decimal after the first digit)
plugging x into our equation we get 1.03*10^n
now to find n. n is the ammount of digits in between the decimal on x and where it should be on you original number ex: 1,030,000 there are 6 digit places between Where it should be and where is is on x (count the commas: 1,0,3,0,0,0,0)
there are 6 commas so n=6
Plugging this into our equation that is 1.03*10^6
to double check this work out the equation. 10*10*10*10*10*10 = 1,000,000
1,000,000 * 1.03 = 1,030,000.