No no no...
It's $160 for the general AMCAS processing fee and 1 complimentary school. After that, it's $30 for each additional school. Don't forget that the MCAT costs $200, a Kaplan prep course around $1500, secondary application fees from $50-$100 each, and the cost of airfare/food/lodging for interviews. For an average of 12 schools, you're likely to spend about $3000-$5000.
Start saving!