We investigated the static and dynamic magnetic properties of the polar ferrimagnet Mn2Mo3O8 in three magnetically ordered phases via magnetization, magnetic torque, and THz absorption spectroscopy measurements. The observed magnetic field dependence of the spin-wave resonances, including Brillouin zone-center and zone-boundary excitations, magnetization, and torque, are well described by an extended two-sublattice antiferromagnetic classical mean-field model. In this orbitally quenched system, the competing weak easy-plane and easy-axis single-ion anisotropies of the two crystallographic sites are determined from the model and assigned to the tetrahedral and octahedral sites, respectively, by ab initio calculations.