Is This A Fungal Infection?

I have a Silver Dollar that has developed a bubble-like growth near its right gil plate. It seems to have grown over several months.  I'm thinking it is a fungal growth, and was about to treat the tank with Tetra Fungus Guard,  but I wanted to post it here and see if others agree and to get advise on what to do about it.  I only have two fish in the tank:  the Silver Dollar and an Argentinian Tetra, but the Silver Dollar is the only fish with the problem.  I've attached a couple of pictures of the problem: 
 

 
Thanks in advance for any advise, suggestions, or comments. 

my guess is: ick however, the size of the infection looks a little too big to be ick so it may not be the case

It doesn't look like Ich to me. My guess would also be a fungal infection.
 
I want to add that both of the fish live in shoals. So I assume you bought only one of them each. This means that you should buy at least 5 more of each species. The lack of numbers will cause stress to the fish, giving them a higher chance of becoming ill.

Would the Tetra Fungal Gard be a good remedy or would you suggest anything different?   My daughter was given the tank and fish.  It would be nice to have multiples of the fish, but with a 10 gallon tank, five of each would be mighty crowded. I'll have to look into a few more after I get this infection under control. 

Use the fungal guard then do a larger than normal water change at your next weekly maintenance regime.
A 10 gallon tank is too small for silver dollars, you need at least 30 gallons.
The fish will quickly out grow its environment cauing more trouble down the line I'm afraid.

Both fish are not ideal for your tank. They are both shoaling fish and as someone has previously said, they are probably stressed out which is having a detrimental effect on their immune system where they can't shake off any infections.

my guess is pop-eye.

Its way behind the eye though. Not on it.

I have to admit, the eyes do not look good. But whether it is pop-eye...  They do not really pop out. There might be more going on than just fungal growth.
 
That there is fungal growth on the fish is obvious. So that has to be treated anyways.