Final answer:
The Effective Annual Rate (EAR) is always greater than the Annual Percentage Rate (APR) when there are multiple compounding periods per year because the EAR takes into account the interest compounding within the year.
Step-by-step explanation:
For a positive annual percentage rate (APR) and multiple (more than one) compounding periods per year, the Effective Annual Rate (EAR) is always c) Greater than the APR. This is because compounding more frequently than annually leads to interest being calculated on top of previously accumulated interest within the same year, which results in a higher overall amount of interest earned or paid over the year. Therefore, EAR captures this compounding effect, while APR does not.