Hint: Each factor of $R$ in $R^{\oplus A}$ has a $1$ and the images of these identity elements under a morphism $R^{\oplus A} \to R$ define an element of $R^A$.
Edit: For example if $|A| = 3$ then we would be trying to prove that $\hom(R^3, R) \simeq R^3$. Well the three factors of $R$ each have a $1$, in $R^3$ these elements are $a = (1, 0, 0)$, $b = (0, 1, 0)$, and $c = (0, 0, 1)$. Now the isomorphism is given by
$$\begin{align*}\hom(R^3, R) &\simeq R^3 \\ \phi &\mapsto (\phi(a), \phi(b), \phi(c))\end{align*}$$
Conversely, if $(r_1, r_2, r_3) \in R^3$ then we can define a map $\psi_{(r_1, r_2, r_3)}\colon R^3 \to R$ by $(x, y, z) \mapsto xr_1 + yr_2 + zr_3$ and this defines the inverse to the isomorphism above:
$$\begin{align*}R^3 &\simeq \hom(R^3, R) \\ (r_1, r_2, r_3) &\mapsto \psi_{(r_1, r_2, r_3)}\end{align*}$$
So that's the maps written down explicitly when $|A| = 3$. It's up to you now to write down the same formulas and check that they work for any $A$. The only real catch is that once $|A|$ is infinite you'll have to make the distinction between the direct product $R^A$ and the direct sum $R^{\oplus A}$. For finite $A$ these are the same thing which is why in my example I wrote $R^3$ in both places instead of writing $R^{\oplus3}$ inside the hom.