Simply highlight the text you wish to apply the animation to, go to Animations tab and select Add Animation. If you hover over the options you should see a live preview of what the animation will look like on your text.
If you want to specify that the text or part of an equation needs to move to a specific location on the slide then I suggest you use one of the Motion Path options, whichever best suits how you want it to move. If you want it to go in an unusual direction select the Custom Path and you can actually draw on the slide the path you want it to move along. Just click your mouse where you want it to start and draw on the screen the path you want it to take, when you reach the spot you want it to finish simply double click. PPT will show you a preview. The green arrow that appears should represent where the text will start and the red arrow will represent where it will finish. You may need to adjust the Duration setting for the animation, the longer the duration the slower it will move.
Let me know if you need further assistance.
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