Nathan,
Here's a start:
the perimeter is 2 lengths + 2 width =70
let l be length
let w be width
use this substitution to solve and eliminate width so that you end up with only lengths.
w=5+1/4L
so that the width equals 5 more than 1/4 of its length
p=2 lengths+ 2 widths
p=2 lengths + 2 (5+1/4L)
70= 2 lengths +2 (5 +1/4 lengths)
then multiply and solve for length
then you know what 2 lengths are and you can then figure out what 2 widths are