Stever was charged $60.00 interest for 1 month on a 3,000 credit card balance. What was the monthly interest rate.

Rate = interest/(principal x time),

= 60/(3000(1/12))
= ....

To find the monthly interest rate, we need to divide the interest charged by the credit card balance. In this case, Stever was charged $60.00 interest on a $3,000 credit card balance.

So, the formula to calculate the monthly interest rate is:
Monthly interest rate = (Interest charged / Credit card balance) * 100

Substituting the given values, we have:
Monthly interest rate = ($60.00 / $3,000) * 100

Simplifying the equation:
Monthly interest rate = 0.02 * 100 = 2%

Therefore, the monthly interest rate for Stever's credit card is 2%.