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Preheat oven to 325°F (163°C). Grease a 10-inch Bundt or tube pan with butter, then dust lightly with flour. Tap out the excess.
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In a stand or hand mixer, beat softened butter and sugar on medium-high for 4–5 minutes, until light, fluffy, and pale.
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Crack in eggs one at a time, beating well after each to keep the batter smooth and stable.
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In a separate bowl, whisk flour, baking powder, and salt. Add to the batter in three parts, alternating with milk—begin and end with flour. Mix just until combined.
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Stir in vanilla and almond extracts gently, just until blended.
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Spoon batter into the prepared pan. Smooth the top with a spatula, then tap the pan once or twice to release air bubbles.
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Bake for 75–85 minutes, or until golden and a toothpick comes out clean from the center. Let cake cool in the pan for 10 minutes.