Answer:
five and eight hundredths
Step-by-step explanation:
I was taught to reserve the word "and" to mark the decimal point when the number has a fraction. The integer part is "five." The fractional part is "eight hundredths." Together, the word form might be ...
five and eight hundredths.
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If I were reading this to someone, including myself, I might say it as ...
"five point oh eight".
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Comment on ambiguity
The reason for being particular about marking the decimal point is so you don't get into trouble with something like ...
1000.13 . . . . . one-thousand and thirteen hundredths
which is different from ...
1013/100 . . . . one-thousand thirteen hundredths
Some folks will pronounce 1013 as "one-thousand and thirteen." Doing so will get you in trouble in the above situation, where you have 1013/100.