WAL directory size calculation

Hi folks! :-)
I'm about to bring up my brand new production server and I was wondering
if it's possible to calculate (approx.) the WAL directory size.
I have to choose what's better in terms of cost vs. performance (we are
on Google Cloud Platform) between a ramdisk or a separate persistent
disk. Obviously ramdisk will be times faster disk, but having a, say,
512 GB ramdisk will be a little too expensive :-)
I've read somewhere that the formula should be 16 MB * 3 *
checkpoint_segment in size. But won't it be different depending on the
type of /wal_level/ we set? And won't it also be based on the volume of
transactions in the cluster?
And, in place of not-anymore-used-in-9.5 /checkpoint_segment/ what
should I use? /max_wal_size/?
Aside of this, I'm having 350 DBs that sum up a bit more than 1 TB, and
plan to use wal_level=archive because I plan to have a backup server
with barman.

Using the above formula I have:
     16 MB * 3 * 1 GB
that leads to to ... uh .. 48000 TB?

Any ideas?
Thanks
Moreno.-