There is a formula; it is an application of the so-called side-splitter theorem of plane geometry.
If the co-ordinates of the endpoints of a line segment are A(a,b) and C(c,d) and you want to go 100p% of the way from A toward C, the co-ordinates of that point will b
[pc+(1-p)a, pd+(1-p)b].
In your case p=.2
Have at it!