Richard has a credit card that allows him to defer credit card payments for 1 year if he becomes unemployed. The interest on the card debt continues to accrue, but there are no late payment penalties. Suppose Richard has $1,546.57 in credit card debt, and the annual interest rate is 24.5% compounded monthly. How much will Richard owe (in dollars) after 1 year if he takes advantage of this option? Assume he makes no other purchases with the card. (Round your answer to the nearest cent.)