Apple is a corporation known for its topnotch computers, electronic devices and iOS phones. The iPhone 5 is one the newest addition to its growing number of fantastic products. Customers are always excited to try the new iPhone models being released by the company. If you are planning to get an iPhone 5, one thing that you may be asking is its cost.

How Much is the iPhone 5?

The iPhone 5 is available in 16GB, 32GB and 64GB. A 64GB phone is more expensive than the other two. You can get this phone with or without a contract. Getting it without a contract is more expensive and you will not be able to enjoy the benefits given by your network carrier to those under a contract. The price of an unlocked and contract free 16GB iPhone 5 is $649, $749 for 32GB and $849 for 64GB. Here are the costs of iPhone 5 with contracts on four of the major network carriers including T-Mobile, Verizon, AT&T and Sprint.

T-Mobile

You can get their 16GB for $99 upfront fee and pay $20 each month, which is equivalent to $579 for a year. The cheapest contract offered is 1500 talk or text that comes with 30MB data. This costs $30 per month for a total of $720 for a whole year. A SIM activation kit is also needed, which costs $10. The most expensive that you can get is a 16GB iPhone 5, which is available for $849, Apple Care+ is worth $99, a SIM activation kit is $10 and unlimited data, text and talk for $70 per month or $1,680 for a year.

Verizon

The cheapest contract that you can get from Verizon will give you a 16GB iPhone 5 for $199, 2GB share everything plan for $60 each month or $1,440 for one year. The activation fee costs $35. Their most expensive contract comes with a 64GB iPhone 5 for $399, Apple Care+ for $99, 10 GB share everything plan which costs $100 each month or $2,400 for a year, activation fee for $35 and detailed billing with the price of $2 per month or $48 for the whole year. You also need to pay $10 per month or $240 in a year for Asurion’s total equipment coverage.

AT&T

This network carrier lets you customize your minutes and data options. Apple Care+ and insurance are optional so you have the choice to include them on your plan or not. Activation fee is required to get the phone. The cheapest plan that you can get comes with a 16GB iPhone 5 for $199, $36 activation fee, National plan with 450 minutes and 300MB data that costs $60 per month or $1,440 for a year. The most expensive comes with a 64GB iPhone 5 for $399, Activation fee for $36, Apple Care+ for $99 and detailed billing for $2 per month or $48 per year. AT&T mobile protection is available for $10 per month or $240 for the whole year. National unlimited plan with 5GB data costs $120 per month or $2,880 for a year.

Sprint

All of Sprint’s plans have unlimited data, though the minutes vary. iPhone 5 is only available if you get any of their Everything plans. Purchasing from their website will give you the activation for free. The cheapest contract that you can get from this carrier includes a 16GB iPhone 5 for $99 and Everything data with 450 minutes costing $80 per month or $1,920 for a year. Their most expensive contract come with a $399 64GB iPhone 5, $36 activation fee, $11 per month or $264 a year Sprint insurance, $99 Apple Care+ and $110 a month or $2,640 a year everything unlimited.

iPhone 5 Features

If you loved the previous iPhone versions, you’ll love iPhone 5 even more because of its new and improved features.

Fantastic Design

This is thinner and lighter than older iPhones, making it more convenient to carry. It weighs 112 grams and is 7.6 millimeters thin. It uses a nano-SIM card, which is smaller than a micro-SIM for 44%. It is 18% and 20% lighter compared to iPhone 4S.

Amazing 4-Inch Retina Display

Its 4-inch retina display lets you enjoy crisp and quality images better. It is still convenient to use with a single hand as it is as wide as iPhone 4S, only with a bigger display.

Fast Wireless Connection

This makes browsing more convenient over wireless network, as it is now easier and faster to connect using the latest wireless technology.

Powerful A6 chip

Everything is also faster to access including your apps because of its powerful A6 chip. Though it has an excellent performance, it is still energy efficient and does not easily drain your battery.

To get the latest trends on the hottest iPhone 5 apps, click here.

Contract and Pay as You Go

Most network carriers offer contract and pay as you go plans. You can choose from the available plans of your network carrier that may come with limited or unlimited data, text and minutes. You need to pay for the service when you get your billing statement. With pay as you go, you can purchase minutes in your account that you can use for text, calling and accessing the Internet. Minutes will be deducted from your balance based on a specific rate each time you use the service. If you do not use your phone that much, then pay as you go may be the best option. However, if you talk, text or use data on your phone a lot, it is recommended that you get a contract that best suits your needs.