3rd term of binomial expression

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Given the expression $(x+y)^8$ where $x=0.3$ and $y=0.7$, I'm trying to find the numerical value of the 3rd term. How would I go about doing that?

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If you plug in $x = .3$ and $y = .7$, then $(x+y) = 1$ and the expansion is simply $1$.

Are you seeking ${8 \choose 3} x^5 y^3 = 56\ \cdot 0.3^5\ 0.7^3 = 0.0466754$

or

${8 \choose 2} x^6 y^2 = 28\ \cdot 0.3^6\ 0.7^2 = 0.0100019$?