The formula in OP seems wrong. The correct formula is $$ \mathbf P= ht \mathbf i+t(v-\dfrac{1}{2}gt)\mathbf j $$ and $m$ has no rule, since gravitational mass and inertial mass are the same: i.e. all bodies fall in the same way, with acceleration $g=9.8 m/s^2$
So, in your case, it seems that the term $5t$ is an approximation for $\dfrac{9.8}{2}t$
The $\mathbf j$ component (vertical) is $0$ when $t(v-5t)=0$ , i.e. $t=0$ (start point) and $t=\dfrac{v}{5}$, this last time is the time whan the projectile falls and substuting it in the $i$ component (horizontal), you have the range $x= h\dfrac{v}{5}$.