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capacitor voltage

Easy question about capcitors (I think?)

Hello all,

 

If a schematic is calling for a 4.7uF capacitor, how do I know what voltage rating I should get? For instance, I am trying to hook up an IR remote set up (from Paralax) to a PICAXE board. The whole thing runs on 5V. The schematic from PICAXE manual 2 shows a 4.7uF capacitor. If I go to digikey, my choices are a bit overwhelming. Should I buy aluminum? Ceramic? And most importantly, how do I know what voltage rating the capacitor should have? Or does it matter?

Please help! Thanks.

 

Ian