You can add a second domain to your existing account.

Domains registered through lunarpages are $14.95 per year.

To make the domain point to a different directory would cost you $2.50 per month.

Once you have done this, you will have 1 CPanel login, but 2 websites on your account.

It's up to you.

You don't have to have 2 accounts, but if the account is for someone else, then it might be best.

You can add a second website onto your existing account for $2.50 a month.

The $2.50 is a charge for having the domain pointing to a different website.

If you had two domain names pointing to the same website, that would be free.

You do not need to sign up for another account.

If you did what I suggested, the $2.50 a month option,

your bandwidth, space, sql databases, etc. would all be shared.

This is along the same lines ( I think).
I am not all that sure about this sort of thing...

I have three websites, all hosted by angelfire. One is medium size (bandwidth will be about 2gig) and the other two are tiny.

I want three separtate domain names, however sharing the same webspace.

I understand I will have to buy 3 domains in total, but I don't understand the $2.50 / month cost. What is this and will it apply in my situation?

So on the standard plan the cost would be:
$7.95/month
$2.50/month
$2.50/month
+$14.95(can't remember this price for sure) x3 for domain names.
=$200.25/year.

Is this correct?
Thanks    
Michelle.