We consider a market model as in the previous lessons. A numraire is an adapted sequence Z = (Zn)osn 0 for n = 1, ..., N and Zn = Vn () for some admissible strategy 4 (n = 1, ..., N). Denote by s2 the Z-discounted vector price process: S = 0,..., N. 9 S, n = 72 Prove that n ;. As} = 0, n = 1, ..., N. j=1 Prove that for any predictable sequence o = (n)i<><>