The amortized cost of a reserved instance is only $7.47 per month.

metachris · on Dec 3, 2010

Only if you choose the 3 year reserved micro instance plan. Both the 1yr and 3yr plans are $0.007 per hour, with different one-time fees:

1yr: $54 one-time fee: $0.007 * 24 * 365 = $61.32 + $54 = $115.32 / 12 = $9.61 per month.

3yr: $82 one-time fee: $0.007 * 24 * 365 = $61.32 * 3yr = $183.96 + $82 = $265.96 / 36 = $7.39 per month.

dfranke · on Dec 3, 2010

Whoops, yes, $7.39. I was taking the prices from memory and remembered the $82 as $85.

borism · on Dec 3, 2010

however spot instance prices run very close to reserved instance prices.