Let's explore the pricing of these instances at https://aws.amazon.com/emr/pricing/.

Amazon EC2 offers three pricing options for instances--On-Demand Instance, Reserved Instance, and Spot Instance:

• On-Demand instance gives you the ability to run the server without disruption. It is suitable if you only want to use the instance for a few days or weeks.
• Reserved instance gives you the option to reserve the instance for a one- or three-year term with a significant discount compared to the On-Demand Instance. It is suitable if you want to run the server for production.
• Spot instance gives you the option to bid for the server. You can choose the maximum price you are willing to pay per instance hour. This can save you a lot of money. However, these instances can be terminated at any time if someone bids higher than you. It is suitable if your system can handle interruption or if you just want to explore services.

Amazon has provided a website to calculate the monthly bill. You can see it at http://calculator.s3.amazonaws.com/index.html.

You can click the Add New Row button and select an instance type.

In the following image, we have selected a p2.xlarge server. The price for a month is $658.80 at the time of writing:

Now click on the Billing Option column. You will see the price of a reserved instance for a p2.xlarge server:

There are many other instance types. We suggest that you take a look at the other types and select the server that is best suited to your requirements.

In the next section, we will create a new model that can perform video action recognition with TensorFlow. We will also leverage the training performance using multiple GPUs.