Thank you for answering! Actually this is also the method I am using now. I was looking for a more straight forward method. Especially that this method does not allow for the automatic Horizontal to view option that we can find for regular text.
I find Rhino the best software there is to do scientific illustrations especially those involving geometric aspects, yet it lacks this basic and simple (I should hope so) feature. It would be a huge step if Rhino included support for latex equations!