Final answer:
The lab will need to safely store the material for approximately 19.83 years before disposal.
Step-by-step explanation:
To determine how many years the lab will have to safely store the radioactive material before disposal, we can use the concept of half-life. The half-life is the time it takes for half of the radioactive material to decay.
In this case, the material decays at a rate of 3.5% per year, so after each year, 3.5% of the material will decay.
Since we are looking for the time it takes for the amount of material to reach half of the original amount, we can use the formula:
Time = (ln(0.5) / ln(1 - 0.035))
Using a calculator, we find that the lab will need to safely store the material for approximately 19.83 years before disposal.