1. **State the problem:** Find the equation of the line with slope $\frac{1}{3}$ and y-intercept 5. 2. **Recall the slope-intercept form:** The equation of a line is given by $$y = mx + b$$ where $m$ is the slope and $b$ is the y-intercept. 3. **Substitute the given values:** Here, $m = \frac{1}{3}$ and $b = 5$, so $$y = \frac{1}{3}x + 5$$ 4. **Interpretation:** This means the line crosses the y-axis at 5 and rises 1 unit for every 3 units it moves to the right. **Final answer:** $$y = \frac{1}{3}x + 5$$