Preheat your oven to 350°F (175°C). Grease and flour your cake pan.
In a mixing bowl, cream together the butter and sugar until light and fluffy.
Add the eggs one at a time, beating well after each addition. Stir in the vanilla extract.
In another bowl, combine the flour, baking powder, and salt. Gradually add to the creamed mixture alternately with the milk, beginning and ending with the flour mixture. Beat until just combined.
Pour the batter into the prepared cake pan. Bake for 30 minutes or until a toothpick inserted into the center comes out clean.
Allow the cake to cool in the pan for 10 minutes, then remove to a wire rack to cool completely.
Notes:
For a richer flavor, you can substitute half of the milk with buttermilk.