You can have a small instance (Small Instance (Default) 1.7 GB of memory, 1 EC2 Compute Unit (1 virtual core with 1 EC2 Compute Unit), 160 GB of instance storage, 32-bit platform)
For around - 65$/month - 780$/year, you could have a dedicated server ... pretty sweet deal.
Now if you add in the reserved instance's feature...
A small instance will cost
$325(reserved instance fee) + $262/year = $587/year ... even better deal.
Sign up for 3 years, and you now are paying...
$587 1st year, and then $262 ... end of 3 years total = $1111 compared to $2340 for the regular price for 3 years.
