To solve the equation 7^2x - 5*7^x - 24 = 0, substituting y = 7^x simplifies the expression to y^2 - 5y - 24 = 0. This quadratic equation can be solved for y, allowing for the determination of x. The initial confusion about the logarithmic aspect is clarified, as the focus is on solving a polynomial equation rather than a logarithmic one. The transformation of the equation is essential for finding the solution. The approach of using y = 7^x is correct and leads to a straightforward solution process.