Step 1

Preheat oven to 325°F. Coat a 10-inch tube pan or bundt pan with solid vegetable shortening and sugar or cake release spray.

Step 2

In the bowl of an electric stand mixer, cream butter and sugar until fluffy. Stop the mixer and scrape the sides. Mix to combine.

Step 3

Add condensed milk and beat, stop the mixer, scrape the sides and bottom, mix until well blended.

Step 4

Add eggs one at a time beating each one in before adding the next. Stop the mixer and scrape the sides. Add almond extract. Mix to combine.

Step 5

Combine flour, baking powder, and salt together in a separate bowl. Add one cup at a time to the mixer (on low) and mix until just combined.

Step 6

Spoon batter into prepared pan.

Step 7

Bake 325° for 80 to 90 minutes. Carefully insert a long wooden pick into the center of the cake. The cake is done when dry crumbs or no crumbs stick to the pick.

Step 8

Allow cake to cool on a wire rack for 15 to 20 minutes before inverting on a tray to cool completely.