I have a 3.2v 16ah battery (Lithium iron phosphate) and need to get 5v out of it, i though about a LM7805 regulator, but that requires at least 7.5v input. Any suggestions?
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It's not simple, you need a DC-DC converter, not a simple task. Cheaper and easier to just get the correct battery.
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You need a switching regulator (a boost regulator). There are a number of IC's that will implement this (with a couple added caps and r's, and an inductor).