@Anonymous Yes, that's correct for an annual license you have to multiple by 12. however, in order to reduce the cost you can use hybrid benefit with BYOL (SQL image) you can use the Reserved Instance for the Same SKU. to reduce the VM cost.
If you still find any difficulties in pricing/billing, If the issue is still not rectified, for more specialized assistance and insight on this kindly contact Azure Billing support, it's free, and it's the best choice for you to get a detailed guidance. Azure billing, and subscription management
Additional: If you have purchased the license, then need to select Azure Hybrid benefit to get the discount. if you do not have the license, then they have to pay as per the pricing calculator
Hope this helps!
Kindly let us know if the above helps or you need further assistance on this issue.
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