Answer
$\frac{7}{24}$.
Work Step by Step
$\frac{5}{8} - \frac{1}{3} = \frac{5 \cdot 3}{8 \cdot 3} - \frac{1 \cdot 8}{3 \cdot 8} = \frac{15}{24} - \frac{8}{24} = \frac{15 - 8}{24} = \frac{7}{24}$.
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