I guess I would factor in a few things?
Do you know the person well, and are you doing it more as a favor for a friend or are you doing it for profit.
How much time do you anticipate it taking? Are you a pretty fast worker, and how long will the photo part take- do you have to edit them too??
How much money do you plan on spending on supplies? How detailed will you make things??
I would say you can easily buy a finished two page layout for about $10, so I would probably start at about that price range- ballpark? Of course, some people are very detailed with their work though, where that amount might not even cover the supplies. Plus don't forget shipping/handling if you plan to mail.