Having a hard time understanding credits and debits

Debit Card = Money that you already had in your bank account.

Credit Card = Money borrowed from the bank. You have to pay the fixed rate of the interest by a deadline.

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

answer; the above statement/question is ( true);