Using the simplified daily interest formula I=(P⋅d⋅r)/(365) , determine the interest accrued on a $⁢12,000 loan at an annual interest rate of 6% for 45 days without payments.

Substitute the values into the daily interest formula: I = (12,000 × 45 × 0.06) ÷ 365. This gives 32,400 ÷ 365 ≈ $88.77, so the interest accrued is $88.77, choice C.

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