Formal:
* Contemplate
* Cogitate
* Ruminate
* Deliberate
* Mull over
* Meditate
Informal:
* Think about
* Reflect on
* Chew on
* Wrestle with
* Give serious thought to
Other options:
* Analyze
* Consider
* Evaluate
* Examine
* Scrutinize
The best synonym for "ponder" will depend on the context of your writing.