Dogs are so smart and even though Penny is not a pup anymore, I'm sure she'll catch on quickly. You can even teach them hand motions in conjunction with verbal commands. Now that my dog has lost her hearing with old age, I am glad that I can still communicate with her.
I think you'll have a great time. A great time working at home with your dog and a great time at class seeing how much she's learned.
Carol Dee pointed out the most important thing - consistency.