Read That Fine Manual - RAID 5 is not the same as RAID 1.
With RAID 5, the capacity is roughly (the number of disks) - 1
So, if you had 5 x 2Tb disks, you would have approx 8 TB of storage.
([5-1=4] - at 2Tb each = 8Tb)
Now, how would you back that up?
Cheers
Ian