Answer
$\frac{27}{125}$
Work Step by Step
According to the power rule for exponents, $(a^{m})^{n}=a^{mn}$ (where $m$ and $n$ are integers and $a$ is a real number).
Therefore, $(\frac{3}{5})^{3}=(\frac{3^{1}}{5^{1}})^{3}=\frac{3^{1\times3}}{5^{1\times3}}=\frac{3^{3}}{5^{3}}=\frac{27}{125}$.