For a standard 8-1/2" x 11" piece of paper, you can get a nearly perfect 5 equal sections by following this simple procedure...
- Take one corner of the paper and bring it over to line-up point-to-point with the corner opposite it diagonally.
- Do not flatten the whole diagonal, only flatten a small crease on one of the edges, as a guide.
- Unfold your diagonal and then make a horizontal fold where this guide crease was made. This creates a 1/5 section at the top (or bottom) of your paper.
- Lastly, you can easily fold the remaining portiion of the paper into 4 equal parts by folding the edge of the larger section up to the newly created horizontal crease, then folding again.
This is probably easier to see visually. Perhaps someone else can add a picture later.