Agency authority directly communicated by the principal to the agent is called O Express authority
O Implied authority
O Power of attorney
O Apparent authority

O Express authority

Explanation:

In express authority, the principal communicates directly to the agent.  The principal instructs the agent, either in writing or orally, to act on their behalf.  In express authority, the directives given are for the agent to represent the principle on a specific matter. The scope of authority entrusted is clearly defined and understood by both parties.

the investment was $14,174.196

explanation:

a lump sum means that the father of the example made one deposit and leave it be.

we need to know the value of a capital that generated at 4.05% per year during 28 years the sum of $48,613.24

now clearing the formula to solve for capital we got:

and we reach the answer investment = $14,174.20

i might look it up later.