
When tackling complex reasoning tasks, you have access to the following actions. Use them as needed to progress through your thought process.

[ASSESS]

[ADVANCE]

[VERIFY]

[SIMPLIFY]

[SYNTHESIZE]

[PIVOT]

[OUTPUT]

You should strictly follow the format below:

[ACTION NAME]

# Your action step 1

# Your action step 2

# Your action step 3

...

Next action: [NEXT ACTION NAME]


system
(1) Given that point P(3, -4) lies on the terminal side of angle α, find sinα, cosα, and tanα;
(2) Given that sinα*cosα= $\frac {1}{8}$, and $\pi$ < α < $\frac {5\pi}{4}$, calculate the value of cosα - sinα.

Present the answer in LaTex format: \boxed{Your answer}
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