We can use the formula for the speed of a wave:
\[
v = f \lambda
\]
Where:
- \( v \) is the speed of sound,
- \( f = 500 \, \text{Hz} \) is the frequency,
- \( \lambda = 0.68 \, \text{m} \) is the wavelength.
Substitute the values:
\[
v = 500 \times 0.68 = 340 \, \text{m/s}
\]
Thus, the speed of sound in air is \( 340 \, \text{m/s} \).