To simplify the expression \((5 + \frac{3}{8}y) + (\frac{1}{4}y - 2)\):
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First, distribute and simplify: \[ 5 + \frac{3}{8}y + \frac{1}{4}y - 2 \]
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Combine like terms:
- The constant terms: \(5 - 2 = 3\)
- The \(y\) terms: \[ \frac{3}{8}y + \frac{1}{4}y = \frac{3}{8}y + \frac{2}{8}y = \frac{5}{8}y \]
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Putting it all together: \[ \frac{5}{8}y + 3 \]
Therefore, the simplified expression with the fewest possible terms is: \[ \frac{5}{8}y + 3 \]
Among the provided response options, the answer that matches this simplification is \(5/8 y + 3\).