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\frac{\frac{Pt-1}{2}}{P^{0}-2\times \frac{Pt}{P^{0}}}
Calculate P to the power of 0 and get 1.
\frac{\frac{Pt-1}{2}}{1-2\times \frac{Pt}{P^{0}}}
Calculate P to the power of 0 and get 1.
\frac{\frac{Pt-1}{2}}{1-2tP^{1}}
To divide powers of the same base, subtract the denominator's exponent from the numerator's exponent.
\frac{\frac{Pt-1}{2}}{1-2tP}
Calculate P to the power of 1 and get P.
\frac{Pt-1}{2\left(1-2tP\right)}
Express \frac{\frac{Pt-1}{2}}{1-2tP} as a single fraction.
\frac{Pt-1}{2-4tP}
Use the distributive property to multiply 2 by 1-2tP.