To calculate the area of the circle with a radius of 2 inches, you can use the formula for the area of a circle:
\[ A = \pi r^2 \]
Given \( \pi \approx 3.14 \) and \( r = 2 \) inches, you plug the values into the formula:
\[ A = 3.14 \times (2)^2 \]
Calculating \( (2)^2 \):
\[ (2)^2 = 4 \]
Now substitute that back into the formula:
\[ A = 3.14 \times 4 \]
Now calculate:
\[ A = 12.56 \]
Therefore, the area of the circle is:
\[ A \approx 12.56 , \text{in}^2 \]
When rounding to the nearest hundredth, the area remains:
\[ \boxed{12.56 , \text{in}^2} \]