How to triangulate a point in 3D space, given coordinate points in 2 image and extrinsic values of the camera
Assume you have two cameras -- camera 1 and camera 2. 
For each camera j = 1, 2  you are given:

The distance hj between it's center Oj, (is "focal point" the right term? Basically the point Oj from which the camera is looking at its screen) and the camera's screen. The camera's coordinate system is centered at Oj, the Oj--->x and Oj--->y axes are parallel to the screen, while the Oj--->z axis is perpendicular to the screen.   
The 3 x 3 rotation matrix Uj and the 3 x 1 translation vector Tj which transforms the Cartesian 3D coordinates with respect to the system of camera j (see point 1) to the world-coordinates, i.e. the coordinates with respect to a third coordinate system from which all points in the 3D world are described.
On the screen of camera j, which is the plane parallel to the plane Oj-x-y and at a distance hj from the origin Oj, you have the 2D coordinates (let's say the x,y coordinates only) of point pj, where the two points p1 and p2 are in fact the projected images of the same point P, somewhere in 3D, onto the screens of camera 1 and 2 respectively. The projection is obtained by drawing the 3D line between point Oj and point P and defining point pj as the unique intersection point of this line with with the screen of camera j. The equation of the screen in camera j's 3D coordinate system is z = hj , so the coordinates of point pj with respect to the 3D coordinate system of camera j look like pj = (xj, yj, hj) and so the 2D screen coordinates are simply pj = (xj, yj) .  

Input: You are given the 2D points p1 = (x1, y1),  p2 = (x2, y2) , the twp cameras' focal distances h1,  h2 , two 3 x 3 rotation matrices U1 and U2, two translation 3 x 1 vector columns T1 and T2 . 
Output: The coordinates P = (x0, y0, z0) of point P in the world coordinate system.  
One somewhat simple way to do this, avoiding homogeneous coordinates and projection matrices (which is fine too and more or less equivalent), is the following algorithm:

Form Q1 = [x1; y1; h1] and Q2 = [x2; y2; h2] , where they are interpreted as 3 x 1 vector columns;
Transform P1 = U1*Q1 + T1  and P2 = U1*Q2 + T1 , where * is matrix multiplication, here it is a 3 x 3 matrix multiplied by a 3 x 1 column, givin a 3 x 1 column;
Form the lines X = T1 + t1*(P1 - T1) and  X = T2 + t2*(P2 - T2) ;
The two lines from the preceding step 3 either intersect at a common point, which is the point P or they are skew lines, i.e. they do not intersect but are not parallel (not coplanar).     
If the lines are skew lines, find the unique point X1 on the first line and the uniqe point X2 on the second line such that the vector X2 - X1 is perpendicular to both lines, i.e. X2 - X1 is perpendicular to both vectors  P1 - T1 and P2 - T2. These two point X1 and X2 are the closest points on the two lines. Then point P = (X1 + X2)/2 can be taken as the midpoint of the segment X1 X2.  

In general, the two lines should pass very close to each other, so the two points X1 and X2 should be very close to each other.
I'm trying to write a function that when given two cameras, their rotation, translation matrices, focal point, and the coordinates of a point for each camera, will be able to triangulate the point into 3D space. Basically, given all the extrinsic/intrinsic values needed
I'm familiar with the general idea: to somehow create two rays and find the closest point that satisfies the least squares problem, however, I don't know exactly how to translate the given information to a series of equations to the coordinate point in 3D.