To calculate the CO2 output from a compressed air tank with 5% CO2, first determine the total volume of gas, which is 100 liters in this case. The flow rate is 0.01 LPM, meaning 5% of this flow rate is CO2, resulting in a CO2 output of 0.0005 LPM. The number of moles of CO2 can be calculated using the ideal gas law, considering the molecular weight of CO2 (44 g/mol) compared to air (29 g/mol). As the tank depletes, the concentration of CO2 will increase above 5% due to the heavier nature of CO2 and other contaminants. This change should be accounted for in long-term calculations of CO2 output.