Let's explore the pricing of these instances at https://aws.amazon.com/emr/pricing/.
Amazon EC2 offers three pricing options for instances--On-Demand Instance, Reserved Instance, and Spot Instance:
- On-Demand instance gives you the ability to run the server without disruption. It is suitable if you only want to use the instance for a few days or weeks.
- Reserved instance gives you the option to reserve the instance for a one- or three-year term with a significant discount compared to the On-Demand Instance. It is suitable if you want to run the server for production.
- Spot instance gives you the option to bid for the server. You can choose the maximum price you are willing to pay per instance hour. This can save you a lot of money. ...