Question 4 (7 Marks) Gisele is considering if she can afford a new personal loan for taking a vacation in Europe. Currently, Gisele works as a marketing manager in an advertising agency, earning a gross income of $40,000 per month. Her employer withholds a total of $2,000 for retirement contributions from her monthly pay. Each month, she also has to pay 4,200 for credit card debts, $3,500 for personal debts and $2,500 for her education loan. The new installment loan she needs for the European holidays will cost an additional $4,000 per month. What is Gisele's current debt payments-to-income ratio? Suggest if Gisele can afford the installment loan for her European trip or not. Explain your answers. Show all your calculations