Which EC2 instance purchasing option will meet these requirements MOST cost-effectively?
Standard Reserved Instances
On-Demand Instances
Spot Instances
Convertible Reserved Instances
Explanations:
Standard Reserved Instances offer a significant discount over On-Demand pricing when committing to a 1-year or 3-year term. They are ideal for predictable, steady workloads, such as a continuously running database server.
On-Demand Instances are suitable for workloads with unpredictable usage patterns. They are more expensive for long-term, steady workloads compared to Reserved Instances.
Spot Instances are ideal for workloads that are flexible and can tolerate interruptions. They are not suitable for workloads requiring constant uptime, such as a database server.
Convertible Reserved Instances offer flexibility to change instance types, but they are generally more expensive than Standard Reserved Instances. Since the workload is predictable and fixed for 1 year, Standard Reserved Instances are more cost-effective.