Design a new API to minimize storage cost and reduce latency when serving images. Which architecture should you use?

For serving images with minimal storage cost and reduced latency, Cloud CDN backed by Cloud Storage is the optimal choice. Cloud Storage offers highly durable and cost-effective object storage, ideal for images. Cloud CDN caches content at edge locations globally, bringing images closer to users, which drastically reduces latency and improves load times. App Engine backed by Cloud Storage would incur compute costs for App Engine instances, which are unnecessary for static image serving. Compute Engine with Persistent Disk is expensive for storage and lacks the global caching benefits of a CDN, leading to higher latency. Transfer Appliance is for large-scale offline data transfer, not for serving content, and Cloud Filestore is a managed file storage service, not optimized for global content delivery.