Both Elizabeth and Jennifer just accepted new jobs and received $6,700 signing bonuses. Both women expect to work for 40 years until retirement, and both have set up retirement accounts that they expect will earn 8 percent interest annually on any money they deposit. Elizabeth decides to deposit her signing bonus immediately and intends to keep the full amount invested for the next 40 years.

Jennifer intends to use the $6,700 to buy some new equipment for her home gym, but plans to make up this amount with a deposit of $6,700 in her retirement account 10 years from today.

What will be the value of Elizabeths deposit after 10 years?