The volume of the paper weight is 58.4375 cubic centimeters.
The volume of a rectangular prism is calculated by multiplying the length, width, and height of the prism.
In this case, the dimensions of the paper weight are 5 cm, 2 3/4 cm, and 4 1/4 cm.
To convert the mixed numbers to fractions, we multiply the whole number part by the denominator and add the numerator.
For example, 2 3/4 cm becomes 2 * 4/4 + 3/4 = 11/4 cm.
Therefore, the volume of the paper weight is:
Volume = 5 cm * 11/4 cm * 4 1/4 cm = 58.4375 cm³
Therefore, the volume of the paper weight is 58.4375 cubic centimeters.