1. **State the problem:** Find the volume of a cone with height $h=3$ units and radius $r=2$ units. 2. **Formula for the volume of a cone:** $$V = \frac{1}{3} \pi r^2 h$$ This formula calculates the volume by taking one-third of the base area times the height. 3. **Substitute the given values:** $$V = \frac{1}{3} \pi (2)^2 (3)$$ 4. **Simplify the expression:** $$V = \frac{1}{3} \pi \times 4 \times 3 = \frac{1}{3} \pi \times 12 = 4\pi$$ 5. **Exact volume:** $$V = 4\pi \text{ units}^3$$ 6. **Approximate volume using $\pi \approx 3.14$:** $$V \approx 4 \times 3.14 = 12.56 \text{ units}^3$$ **Final answer:** The volume of the cone is exactly $4\pi$ units$^3$ or approximately $12.56$ units$^3$ when rounded to the nearest hundredth.