A research laboratory has been conducting experiments on the rapid increase of cancer cells in an animal. They have observed that cancer cell growth increases by 2% every year with certain medication. Initially, in the year 2018, there were 232.26 units of these cells in the animal.

Using the above data, answer the following questions: Utilize this mathematical function to project the level of cancer cells in 10 years, assuming the growth rate continues at the same pace.