So it is pretty straight forward, a VM which is 100GB will need:
RAID1 - FTT=1 = 100GB * 2 = 200GB
RAID5 - FTT=1 = 100GB * 1.33 = 133GB
Of course you will need to take things like "slack space / operational capacity" into account as well, but for RAID-5 the overhead is 33%, which means you multiply with 1.33 and for RAID-1 the overhead is 100%, which means you multiply by 2.