What are AWS Reserved Instances and how is their pricing structured?
An example of an AI chatbot conversation about AWS Reserved Instances pricing and options.
What are AWS Reserved Instances and how is their pricing structured?
AWS Reserved Instances (RIs) are a pricing model that allows you to reserve capacity for EC2 instances at a lower cost compared to on-demand pricing. You can choose from different terms, such as 1-year or 3-year commitments, and options like All-Reserved, Partial-Reserved, or No Upfront.
What are the benefits of using Reserved Instances?
The main benefits include significant cost savings, predictable pricing, and the ability to reserve capacity for your applications, ensuring availability.
Can I modify or cancel my Reserved Instances?
Yes, you can modify your Reserved Instances to change the instance type or size, but you cannot cancel them once purchased. However, you can sell them on the AWS Marketplace.
How do I calculate the savings with Reserved Instances?
You can calculate savings by comparing the total cost of on-demand instances over the same period with the cost of Reserved Instances. AWS provides a pricing calculator to help with this.
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