How can I use Timer (formerly NSTimer) in Swift?

I tried

var timer = NSTimer()
timer(timeInterval: 0.01, target: self, selector: update, userInfo: nil, repeats: false)

But, I got an error saying

'(timeInterval: $T1, target: ViewController, selector: () -> (), userInfo: NilType, repeats: Bool) -> $T6' is not identical to 'NSTimer'

This will work:

override func viewDidLoad() {
    super.viewDidLoad()
    // Swift block syntax (iOS 10+)
    let timer = Timer(timeInterval: 0.4, repeats: true) { _ in print("Done!") }
    // Swift >=3 selector syntax
    let timer = Timer.scheduledTimer(timeInterval: 0.4, target: self, selector: #selector(self.update), userInfo: nil, repeats: true)
    // Swift 2.2 selector syntax
    let timer = NSTimer.scheduledTimerWithTimeInterval(0.4, target: self, selector: #selector(MyClass.update), userInfo: nil, repeats: true)
    // Swift <2.2 selector syntax
    let timer = NSTimer.scheduledTimerWithTimeInterval(0.4, target: self, selector: "update", userInfo: nil, repeats: true)
}

// must be internal or public. 
@objc func update() {
    // Something cool
}

For Swift 4, the method of which you want to get the selector must be exposed to Objective-C, thus @objc attribute must be added to the method declaration.