Final answer:
For text to flow evenly around an image on all sides in a homework assignment, the 'Tight' text wrap option should be selected.
Therefore, the correct answer is: option 'tight'.
Step-by-step explanation:
To insert an image of your favorite way to exercise into the middle of your homework assignment with the text flowing around the image evenly on all sides, you should select the 'Tight' text wrap option.
This option allows the text to wrap closely around the image no matter its shape, providing an even and consistent flow of text around all sides of the image.
The 'Tight' wrap works well with images that have irregular outlines, as the text will contour to the shape of the image.
In contrast, the 'Square' option is similar but is more suitable for images with straight edges, 'Inline' keeps the image in line with the text as if it is a character itself, and 'Behind text' places the image behind the document's text.