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  • Standard Reserved Instances
    • Apply to a single instance family, platform, scope, and tenancy over a term
    • One or three year term
    • Can reserve capacity (locked into one availability zone) or be regional (can launch in any AZ within the region)
    • Greatest discount
  • Convertible Reserved Instances
    • They allow you to change the instance family and other parameters associated with a Reserved Instance at any time. For example, you can convert C3 RIs to C4 RIs to take advantage of a newer instance type, or convert C4 RIs to M4 RIs if your application turns out to need more memory.
    • Three year term
    • Can reserve capacity (locked into one availability zone) or be regional (can launch in any AZ within the region)
    • Slightly more expensive than standard

Scheduled Instances

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