To solve the equation (x+iy)^2 = 5+4i, one must equate the real and imaginary parts, resulting in two simultaneous equations. These equations can be challenging, but they can be solved by expressing 5+4i in polar form and taking the square root. Alternatively, substituting one equation into the other can yield a quadratic equation in x, which can be solved using standard methods. Graphical solutions are also suggested, as the equations represent hyperbolas. Both methods are valid for finding the values of x and y.