What is the purpose of Savings Plans and Reserved Instances, and how do they differ?

• A. Savings Plans require no commitment; RI require 100% upfront.
• B. Savings Plans are for data storage; RI for data transfer.
• C. They provide discounted rates for committed usage; Savings Plans offer flexibility across services within a family, RI are instance-type specific.
• D. Savings Plans apply only to one service; RI cover all services.

Answer: (C)