How do I calculate my loan payments using simple or compound interest?

I borrowed money from grandfather this past semester for college tuition. It is now time to start paying back on the loan. For the next three years, my grandfather wants me to pay the interest that accumulates on the loan every 6 months. The interest rate is 5.5% , and I am not sure if this is supposed to be... show more I borrowed money from grandfather this past semester for college tuition. It is now time to start paying back on the loan. For the next three years, my grandfather wants me to pay the interest that accumulates on the loan every 6 months. The interest rate is 5.5% , and I am not sure if this is supposed to be calculated with simple or compound interest. The amount of the loan is $4,000.00. I was wondering if anyone could help me calculate my payments in terms of both simple and compound interest? Thank you
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