Also the ratio LEO to HIVE is important. If LEO loses value against HIVE it needs to print more LEO to achieve the 16% APR, and if the LEO increases in price against HIVE then less tokens are printed.

Not sure how long this bounty for HP delegation will continue, the team has mentioned on few occasions that they are looking into options to replace, or lower it with income streams from other places. I don't have the details. If that happens then the amount of tokens printed will be lower.