Solution.
Let {x1,…,xn} be a basis for V1. Normalizing, we may assume that ∥xi∥=1 for each i. We have a canonical isomorphism φ:V1→Rn, via
i=1∑ncixi↦i=1∑nciei
In Rn, we have the projection map πi:Rn→R onto the i-th component, and so αi:V1→R given by αi=πi∘φ is a bounded linear functional on V1. By Hahn-Banach, they all admit extensions to αi∈V∗, so we define
P(x)=i=1∑nαi(x)xi.
P is linear by construction and is continuous since
∥P(x)−P(y)∥≤(i=1∑n∥αi∥)∥x−y∥,
and for any x∈V1,
P(x)=i=1∑nαi(x)xi=x
by construction. Thus, P2=P and imP=V1, which completes the proof.