Follow these steps to use a CloudFormation template as the basis for cost estimation:

1. Run the following command to generate the report:

aws cloudformation estimate-template-cost 
 --template-body 
 file://06-01-RDS.yaml 
 --parameters ParameterKey=VPCId,ParameterValue=test 
 ParameterKey=SubnetIds,ParameterValue="test,test" 
 ParameterKey=DBUsername,ParameterValue=test 
 ParameterKey=DBPassword,ParameterValue=test 
 --query Url 
 --output text

2. Click or copy and paste the URL into a browser to see the report:

3. Click on Amazon RDS in the left-hand menu to see the individual service page details:

4. Click on Estimate of your Monthly Bill to see a total summary of the template resources:

Using a CloudFormation template can save you a lot of time with the AWS Simple Monthly Calculator.