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Today Amazon introduced "reserved instance" pricing for users who tend to run long lived instances.
The usual pricing for a small instance is $0.10 per cpu-hour, which works out to about $73/month if you keep your instance alive 24x7.
With the reserved pricing you can pay a fixed amount for a term of 1 year or 3 years and get a reduced hourly usage rate of $.03 per cpu-hour For 1 year the up fr…
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