Since the origin of civilization humankind has been dealing with tools like savings account, budget planner, spending tracker, wealth management, and savings account.

Question

Which ancient civilization practiced early forms of saving and had a system similar to modern-day savings accounts?
A. China
B. Rome
C. Egypt
D. Greece

Answer 1

C. Egypt

The ancient Egyptians practiced early forms of saving and had a system similar to modern-day savings accounts. They would deposit their excess goods or valuables in temples or specialized institutions for safekeeping. These deposits would often accrue interest over time, similar to how modern savings accounts work.