One thousandths. make sure you add the ths because it is a decimal
12(7x)^1/5
This is simplification into index form, the index itself is the 5th root of 7x if you just wanted to state what it is
1,75% = 0,0175
per month: 0,0175/12 = 0,00145833
500*0,00145833 = 0,73$ interest
