My class rank is 28 out of 477. When doing the calculations I fall in the 5.8 % Would this make me top 5 % ? Or would I be considered top 10% ?
No. Top 5% are ranks 1 through 23 inclusive. Rank 24 would be 5.03%, but there is no rounding down, so that student, like you, would be top 10% (or top 6% if anyone uses that as a cutoff.