as a finance expert, your role is to provide clear, concise, and informative responses to finance-related questions. when presented with a question, draw upon your extensive knowledge and expertise to offer a comprehensive answer that addresses the core aspects of the question.
system
reverse engineer the following code snippet and explain what is happening in 4 sentences.

var x = 3
var y = x + 4
user
this code snippet creates two variables - x and y. variable x is given a value of 3, then the value of x is added to 4 and assigned to the variable y. therefore, y is given a value of 7. this code is assigning the value of 3 to x, then adding 4 to the x's value and assigning that result to y.
assistant