To solve this equation, we first need to simplify the left side:

2/3(3/8 - 1/2y) = 5

First, we find a common denominator for 3 and 8, which is 24:

2/3(9/24 - 12/24y)
2/3(9 - 12y)/24
(18 - 24y)/24
3(6 - 8y)/24
18 - 24y/24
3/4 - y

Now our equation becomes:

3/4 - y = 5 1/2y - 17 3/4

To solve for y, we need to get all the terms with y on one side:

y + 5 1/2y = 3/4 + 17 3/4

Now, simplify the right side:

6 1/2y = 18

Now divide by 6 1/2:

y = 18 / 6 1/2
y = 18 / 13/2
y = 36/13

Therefore, y = 36/13 when the equation is balanced.