I calculate that after 10 iterations, you'd have 59.874 cents (0.95 ** 10, or 0.95 ^ 10 as the kids say these days
).
However, if inflation is defined as an increase in prices, then the corollary of 5% inflation is that after a year, $1 is worth not $0.95, but ($1 / 1.05) = 95.258 cents. Compound that nine further times (10 in total) and you end up with (0.95258 ** 10) = 61.391 cents.
You can check that by calculating (1.05 ** 10) = 1.62889 (that is, $1 invested at 5% compound with no deductions would give you $1.62889 after 10 years), and divide that into 1 => 1.0/1.62889 = 0.61391.