Help understanding Recurring Payments for Classifieds plugin

Now that I've got the Classifieds plugin installed at I want to make sure I understand how the recurring payments option works.

I went to set the cost for each billing cycle as $20.

Name of service will stay the default "Subscription"

For billing period, I'd like to start off monthly. Ie. Subscription is $20 per month.

What is billing frequency? Is that how many times the person would be billed $20 in a single month? Or how many times the person will be billed over the length of the subscription?

In the example agreement, I have "Customer will be billed at $20 per month for 1 year.”

That sounds fine to me. In this case, would I update billing frequency to 12?

The goal is for people to subscribe at $20 per month, and the subscription will last for 12 months, unless they cancel early.