Remember also that the coordinates are being given in degrees and minutes, so in your example I'm guessing it's 7 degrees, 30 minutes N. Each degree is divided into 60 'minutes', so 07 30' N is halfway between 7 and 8 degrees. If you can't see that on the map, either zoom out more to see a broader range of degrees on the degree scales or find the general area and then zoom in to get a more precise view of the reported area. Depending on your options configuration, when a contact report comes in there will be a red symbol placed on the map at the location. You can click on the symbol and it will show the time, direction, and general speed that was reported. You can then try to match the time next to the map symbol to the time of the radio report to see if you're looking at the right one.
Most of the time, those reports will be so far away they won't really have any impact on your patrol. However, if any of them are heading in the direction of where I'm going or if our paths cross, I will plot a rough line based on the reported course and speed and then project my own position at that time to see if they might coincide. If they're 1500 miles away when the report comes in, it's probably not of much use to you. But if they're only a couple hundred miles away, you might be able to plot an intercept course to an area of possible contact if it doesn't take you too far off your intended course. On my current patrol for example, there have been several reports of task forces heading to and from my patrol area. I haven't been there long enough yet, but based on those reports I'm expecting to possibly encounter more military shipping than usual.
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