# [SP interest rates] 187% Interest on Steem Power?

in #steemit4 years ago

According to my Wallet, I am receiving .001 SP per minute on 280 Steem Power

.001 SP/minute * 60 minutes/hour * 24 hours/day * 365 days/year = 525.6 Steem Power/year

Interest Earned / Starting balance = Interest Rate

Therefore,

525.6 / 280 = 1.877 ( multiply by 100 to turn into a percentage) and....

#### Interest Rate = 187% per year

I'm assuming I'm not calculating an important figure...

Or is this math correct?

Sort:

I dont know about the math but its way better than a savings account

I liked your post maybe you'd like one of mine ...[https://steemit.com/@joelinux]

I meant to use the word "return" instead of interest. However, the return will only be realized if it lasts. While a savings account has no risk, there's still a lot of risk holding Steem Power. (Still bullish though)

When is the interest paid? I have some SP but it just says "1 week ago Receive interest of 0.000 SBD". It's never changed.

If you refresh your wallet every 60 seconds, you will see your Steem Power number increasing.