This is the fifth in a series of articles devoted to showing that a typical covering map of large degree to a fixed, regular graph has its new adjacency eigenvalues within the bound conjectured by Alon for random regular graphs. In this article we use the results of Articles~III and IV in this series to prove that if the base graph is regular, then as the degree, $n$, of the covering map tends to infinity, some new adjacency eigenvalue has absolute value outside the Alon bound with probability bounded by $O(1/n)$. In addition, we give upper and lower bounds on this probability that are tight to within a multiplicative constant times the degree of the covering map. These bounds depend on two positive integers, the emph{algebraic power} (which can also be $+infty$) and the emph{tangle power} of the model of random covering map. We conjecture that the algebraic power of the models we study is always $+infty$, and in Article~VI we prove this when the base graph is regular and emph{Ramanujan}. When the algebraic power of the model is $+infty$, then the results in this article imply stronger results, such as (1) the upper and lower bounds mentioned above are matching to within a multiplicative constant, and (2) with probability smaller than any negative power of the degree, the some new eigenvalue fails to be within the Alon bound only if the covering map contains one of finitely many tangles as a subgraph (and this event has low probability).
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