Using the digits 1, 2, 3, 4, 5, how many even three-digit numbers less than 500 can be formed if each digit can be used more than once?
There are four choices for the hundreds digit: 1, 2, 3, or 4. The tens digit is unrestricted; it could be any one of the five. Finally, the units digit can only be a 2 or 4. Thus, there are $4 \cdot 5 \cdot 2 = \boxed{40}$ such numbers that can be formed.