To represent the amount \( a \) that Mike paid for buying 8 yards of ribbon, we can set up the following equation:
\[ a = \text{(cost per yard)} \times \text{(number of yards)} \]
Given that the cost per yard is $3.50 and Mike bought 8 yards, the equation becomes:
\[ a = 3.50 \times 8 \]
Now, let's calculate the total amount:
\[ a = 3.50 \times 8 = 28 \]
Therefore, the completed working equation is:
\[ a = 3.50 \times 8 \]
And the amount that Mike paid is:
\[ a = 28 \text{ dollars} \]