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\frac{5\left(-24\right)}{16\times 5}
Multiply \frac{5}{16} times -\frac{24}{5} by multiplying numerator times numerator and denominator times denominator.
\frac{-24}{16}
Cancel out 5 in both numerator and denominator.
-\frac{3}{2}
Reduce the fraction \frac{-24}{16} to lowest terms by extracting and canceling out 8.