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Re:Tutorial: Setup EC2 for Rails/Merb/Sinatra using Chef by fireteller on Monday April 06, 2009 @03:42PM (#549457)
He computed incorrectly. He didn't include the usage, with the reservation cost. A reduced usage still applies. The correct price is...

h = hours in a year = 8765

($325+($0.03 * h))/12 = $49.00/month

The best deal is a 3 year block

($500+($0.03 * h * 3))/36 = $35.80/month

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