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Condensed milk is cow's milk from which water has been removed.  Sweetened condensed milk has sugar added; it is a very thick, sweet product that is sold in cans.  A related product is evaporated milk but evaporated milk is not sweetened and cannot be substituted for sweetened condensed milk.
SWEETENED CONDENSED MILK
Toasting nuts is an easy way to enhance their flavor.  Spread whole nuts on a baking sheet and toast in  a 350 degree F. oven, stirring often, or toast in a large skillet over medium heat.  Nuts quickly go from toasty to burned, so keep a close watch on them.  When you can smell them, they're done.
How to Toast Nuts
Caramel Apple Coffee Cake

Makes two 8-inch round coffee cakes
Caramel Apple Coffee Cake
Caramel-Apple Coffee Cake is a wonderful autumn dessert but since apples are available all
year-round you can make it anytime you desire a heart-warming coffee cake.  This cake has a
texture similar to a carrot cake ... it's a dense cake with a slightly spicy flavor and filled with bits of fresh apple. You can omit the caramel topping if you prefer and simply dust the cake with
confectioners' sugar.  But the caramel icing adds a special luxurious finish to this simple cake.
Ingredients:

Cake:
2 cups sugar
1 cup vegetable oil
3 eggs, lightly beaten
2 teaspoons vanilla extract
3 cups flour
2 teaspoons cinnamon
1 teaspoon baking soda
1/2 teaspoon salt
3 cups apples, peeled and finely chopped
1 cup pecans, chopped and toasted

Caramel Topping:
2 (14-ounce) cans sweetened condensed milk
1/2 cup brown sugar
1/2 cup butter
1 teaspoon vanilla extract
1-1/2 cups pecans, chopped and toasted


Directions:

To make the cake:
Preheat oven to 350-degrees F.
Grease 2 (8-inch) round baking pans.

In a large bowl, combine sugar, oil, eggs, and vanilla.
Add flour, cinnamon, baking soda, and salt.
Stir until just blended. Batter will be stiff.
Fold in apples and pecans.

Divide batter evenly between prepared baking pans.
Bake 45-50 minutes until tester inserted in center comes out clean.
Allow to cool 10 minutes then remove from baking pans.
Transfer to wire racks and allow to cool 20-30 minutes.

To make the caramel topping:
Place all ingredients, except pecans, in a saucepan.
Bring to a boil over medium-low heat, stirring constantly.
Cook 3-5 minutes until mixture has a pudding-like thickness.
Remove from heat.

Spoon warm caramel topping evenly over coffeecakes.
Sprinkle with 1-1/2 cups pecans.
Caramel Apple Coffee Cake
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