Final answer:
The point-slope form of the equation for the parallel line is , which utilizes the slope <\frac{3}{5}> from the given line and the point <(0,-3)> through which the new line passes.
Step-by-step explanation:
The point-slope form of the equation for a line parallel to y=\frac{3}{5}x-8 and passing through the point (0,-3) can be determined using the given slope and point. Since parallel lines have the same slope, the slope of our line will also be \frac{3}{5}. The point-slope form of an equation can be written as (y-y_1)=m(x-x_1), where m is the slope and (x_1, y_1) is a point the line passes through.
Substituting the given slope and point into the point-slope formula, we get (y+3)=\frac{3}{5}(x-0) or (y+3)=\frac{3}{5}x. Therefore, the point-slope form for the line that is parallel to the given line and passes through the point (0, -3) is (y+3)=\frac{3}{5}x.