To find the total fractional amount of the desired funds raised from both the bake sale and the yard sale, we need to add the two fractions:
- Bake sale raised \( \frac{3}{8} \).
- Yard sale raised \( \frac{1}{4} \).
First, we need to express \( \frac{1}{4} \) with a common denominator of 8.
We can convert \( \frac{1}{4} \) to an equivalent fraction with a denominator of 8:
\[ \frac{1}{4} = \frac{1 \cdot 2}{4 \cdot 2} = \frac{2}{8} \]
Now, we can add the two fractions:
\[ \frac{3}{8} + \frac{2}{8} = \frac{3 + 2}{8} = \frac{5}{8} \]
So, the total fractional amount of the desired funds they have raised is \( \frac{5}{8} \).