ANOTHER sighting in question

[model 70]

.270win, 130gr. sierra btsp's(factory ammo).

if i sighted in to hit 1" high at 100yds, would that be my highest point of impact from 0-500 yards? do bullets really arch up before they hit where you're aming?

at 1" hight at 100 yards, where would that put me at 200,300,400, and 500 yards?