So far, all of your observations are correct. Note to self: learn latex
To start, here are a few lemmas you will need, some of which you have already observed, others can be easily verified from the definition.
Def:

Lemma 1:

if

Lemma 2:

Lemma 3:

Lemma 4:
By lemma 1,

, and therefore
Base case: Let

. Then the LHS is

.
The RHS is

. So LHS=RHS for our base case.
Inductive assumption: Suppose

for some
Inductive leap: We want to show that

...

(inductive assumption)

(lemma 3)

(lemma 4)
QED