Step 1 :We are given the function for the amount of pollution in the lake as \(f(t)=8(1-e^{-0.5 t})\), where \(t\) is the time in hours.
Step 2 :We need to find the amount of pollution in the lake after 14 hours, so we substitute \(t=14\) into the function.
Step 3 :Calculating \(f(14)=8(1-e^{-0.5 * 14})\) gives us the amount of pollution in the lake after 14 hours.
Step 4 :The result is approximately 7.992704944275564 gallons of pollution.
Step 5 :Rounding to the nearest hundredth, the final answer is \(\boxed{7.99}\) gallons of pollution in the lake after 14 hours.