Step 1: Understanding the concept of half-life.
The half-life of a radioactive substance is the time required for half of the atoms in a sample to decay. In this case, the half-life of the substance is given as 5 years.
Step 2: Probability of decay within the half-life.
The probability that a single atom will decay within one half-life is 50%, since half of the atoms will have decayed by the end of one half-life.
This can be understood using the fact that in each half-life, the number of undecayed atoms reduces to half of the previous amount. Therefore, in a given half-life, the probability of a single atom decaying is:
\[
P(\text{decay within 5 years}) = \frac{1}{2}
\]
Step 3: Conclusion.
The probability that a single atom of the radioactive substance will decay within 5 years is \( \frac{1}{2} \).
Answer: Therefore, the probability that the atom will decay within 5 years is \( \frac{1}{2} \).