Correct spelling, explaination: this word is a combination of an adjective final (which means eventual or ultimate) and suffix -ly used to create an adverb.
Definition of finally:
Adverb, lastly, eventually, at the end.
After years of trying, we finally managed to enter the foreign markets.
First, I overslept. Then I missed my bus and poured coffee on my shirt. Finally, I get to work by 10.
Incorrect spelling, explaination: because word final ends with an l, one more l needs to be added because of adverbal -ly suffix. The shorter version
finaly is incorrect.
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