Final answer:
The value of a $10,000 gift compounded daily at an 8% interest rate over 5 years is approximately $14,693.28.
Step-by-step explanation:
The question asks about the future value of a $10,000 gift saved at an 8% interest rate compounded daily over a period of 5 years. To calculate the future value, you can use the compound interest formula which is A = P(1 + r/n)^(nt), where A is the amount of money accumulated after n years, including interest, P is the principal amount ($10,000 in this case), r is the annual interest rate (0.08 for 8%), n is the number of times that interest is compounded per year (in this case, daily compounding means n=365), and t is the time the money is invested for in years (5 years in this scenario).
Plugging in the values into the formula gives us: A = $10,000(1 + 0.08/365)^(365*5). When calculated, this gives us a future value of approximately $14,693.28, making option a the correct choice.