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\frac{5\times 10^{-3}}{10^{3}}
Cancel out 307 in both numerator and denominator.
\frac{5}{10^{6}}
To divide powers of the same base, subtract the numerator's exponent from the denominator's exponent.
\frac{5}{1000000}
Calculate 10 to the power of 6 and get 1000000.
\frac{1}{200000}
Reduce the fraction \frac{5}{1000000} to lowest terms by extracting and canceling out 5.