IOS rate limiting to only use 20 mb/s on external interface?

We are billed by our ISP for the bandwidth we use on our 100mb/s circuit.  I need to throttle the bandwidth we use so our ISP stops billing us for overage charges.

If I want to only allow 20 mb/s of our 100mb/s internet circuit to be used, would the below work?

int gi0/0 (this
rate-limit input 20000000 100000 500000 conform-action transmit exceed-action drop
rate-limit output 20000000 100000 500000 conform-action transmit exceed-action drop

Am I missing anything?
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I would do it this way but basically same thing.
policy-map RATE
 class class-default
    police 20000000 2500000 37500000 conform-action transmit exceed-action drop violate-action drop
interface gig 0/0
  service-policy output RATE

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