The full retail cost for an 16GB iPhone 5 starts at $650 in the US. If you are buying the iPhone 5 with a two year contract they are knocking the price down to $199. But how much will you pay including the two year contract? Is it really cheaper for you to buy the iPhone from any carrier? Mashable have posted an interesting infographic by Avalaunch Media that shows a break down of all of the iPhone 5-releated expenses you’ll likely incur over the next two years if you purchase one on-contract. Check it out after the break.