Answer
$= \frac{7y}{20}$
Work Step by Step
We first multiply the numerators by each other and the denominators by each other. Then, we simplify the fraction to obtain:
$(\frac{7y}{8x})(\frac{14x}{35})$
$= \frac{7y(14x)}{8x(35)}$
$= \frac{98xy}{280x}$
$= \frac{7y}{20}$