An audio file like that would be very small, in the low MegaBytes, (MB), range.
If you look at the size of a single music track .mp3 file for instance, they range anything from 2 MB up to 10 MB. It wouldn't surprise me if an audio file, (talk, no music), of around 5 minutes might even be in the high KB range, eg below 1 MB.
As to hard disk size, the world is your oyster, as they say. With hard disks ranging anywhere from 250 GB to 1.5 TB or more, you are likely not going to run out of hard disk space for years, unless you intend to record every conversation, every day and night, all year. But even then, even a 250 GB hard drive will hold thousands of conversations.
Mark
I am doing a project in college for a VoIP system install. Conversations are required to be recorded and i was wondering if anyone could tell me a ruff file size for say a standard 5 min conversation, or a recommend HD size.

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