It seems to me that Amazon obfuscate their pricing somewhat.

So if I were to create a "m1.medium" instance and run it say 4 hours a day what would I be charged per month? (assume nothing else needed) You'd think this would be straight forward to answer, but I don't see a clear answer anywhere.

This tool: http://calculator.s3.amazonaws.com/calc5.html Gives: $22.21

If I set it to 1 hour is gives: $5.65 But is this correct?

The m1.medium has a Local storage of 410gb... I assume that this is persistent, but is it charged for? In the tool from Amazon this is not implied or suggested or hinted at.

Any guidance would be most appreciated!