#What do you use to type out math formulas?
modern jackalBOT
soft mesa
If you're open to a middle step, there are a number of TeX extensions for Inkscape. You'll have to install texlive somehow, though, which (I've heard) is a major pain on Windows. Once you have the formulas in the .svg file, you should be golden.
Otherwise you could try installing the Computer Modern font such that your Illustrator can use it, and generate the equations yourself. I wouldn't recommend this unless you're desperate, though, since the spacing won't be right...
hasty anvil
i use a website
there are other ones with svg png and jpeg options
this one is specifically png but iv seen svg ones online
soft mesa
Unfortunately texlive is the common app. Even when installing something like MikTeX on Windows, you're still running texlive under the hood.
You could try running the TeXit bot that this server uses on one of your own. I have no idea whether it could be configured to render .svg files, but perhaps it could get you to .ps/.eps files, which might be converted into .svg easily, or even just imported into Illustrator outright.