English spellings of Latin and Greek words are often, although not always, simplified. For example, relatively few people will write "archeology" over "archaeology." However, you mustn't pronounce the "ae" as /ɛɪː/ (rhyming with "day")—it is either /iː/ (rhyming with "key") or, more accurately, /aɪː/ (rhyming with "cry").

In general, more of these diphthong spellings are preserved in UK English than US English (haemorrhage, foetus), but the most common case of this substitution is the rather unassuming "prae", which is always spelled as "pre", no matter which side of the pond you're on.