Recordset do not get created in php version 8.2

Question

<?php
echo "here";
$host="erpworldwide.com";
$username="lbiwiutp_aas";
$password="tryDec23(pw#)";
$db_name="lbiwiutp_trialdb";
$link = mysqli_connect($host, $username, $password);
echo "here1";
mysqli_select_db($link, $db_name);
$query_recpaymentterms= "SELECT fld1 from paymentterms”;
$recpaymentterms= mysql_query($query_recpaymentterms, $link) or die(mysql_error());
$row_recpaymentterms= mysql_fetch_assoc($recpaymentterms);
echo $row_recpaymentterms['fld1'];
echo "here2";

This code is written to generate a record set from table payment terms and print value of field fld1. Last 2 lines are not getting executed.