Preheat oven to 350°F (175°C).
Cream together butter and sugar until well blended.
Add eggs and mix well.
Stir in grated apples.
In a separate bowl, mix dry ingredients.
Add dry ingredients to wet ingredients and mix until just incorporated.
Bake in a greased 9×13 inch pan for 40-50 minutes, or until a toothpick comes out clean.
Allow cake to cool for at least 10 minutes.
Serve warm with caramel sauce and whipped cream or ice cream.
For the Caramel Sauce:
Combine all caramel sauce ingredients in a large glass bowl.
Fill a saucepan with 2 inches of water and bring to a boil, then simmer.
Place glass bowl over the saucepan (or use a double boiler) and simmer, stirring occasionally, for 1 hour.
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