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How to calculate compound interest in Swift

1 Answer

0 votes
import Foundation

func calculateCompoundInterest(principal: Double, rate: Double, years: Double) -> Double {
    // Validate input: all values must be non-negative
    guard principal >= 0, rate >= 0, years >= 0 else {
        print("Error: Principal, rate, and years must be non-negative values.")
        return -1
    }

    // Calculate total amount using the compound interest formula
    let amount = principal * pow(1 + rate / 100, years)

    // Return compound interest (total amount - principal)
    return amount - principal
}

let principal: Double = 100_000
let rate: Double = 3.5
let years: Double = 5

let compoundInterest = calculateCompoundInterest(principal: principal, rate: rate, years: years)

if compoundInterest >= 0 {
    print(String(format: "Principal Amount: $%.2f", principal))
    print(String(format: "Annual Interest Rate: %.2f%%", rate))
    print(String(format: "Years: %.2f", years))
    print(String(format: "Compound Interest: $%.2f", compoundInterest))
    print(String(format: "Total Amount: $%.2f", principal + compoundInterest))
}



/*
run:
    
Principal Amount: $100000.00
Annual Interest Rate: 3.50%
Years: 5.00
Compound Interest: $18768.63
Total Amount: $118768.63
    
*/

 



answered Aug 30, 2025 by avibootz

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