On the old backup version, it tells you it will install to the AC\Backup folder. You can then set it to back up to three other locations, and then offsite.
You may need to upgrade your PC if the hardware is this old. Hard to know. What is your processor, memory, drives.
Agree with Kurt, but would be more specific and recommend an SSD. In fact, it would be extremely helpful if you get an SSD and not a HDD.
@Chris YEAH!!!! Been trying to get that "feature" changed for over ten years.
