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\frac{15\left(-8\right)}{16\times 15}
Multiply \frac{15}{16} times -\frac{8}{15} by multiplying numerator times numerator and denominator times denominator.
\frac{-8}{16}
Cancel out 15 in both numerator and denominator.
-\frac{1}{2}
Reduce the fraction \frac{-8}{16} to lowest terms by extracting and canceling out 8.