Step 1: Understand the words.
- "Later" refers to a point in time or something occurring after a particular moment.
- "Latter" refers to the second of two things or the last part of something.
Step 2: Construct sentences.
- Later: "I will meet you later after my class."
- Latter: "Out of the two books, I prefer the latter."
Final Answer: \[ \boxed{\text{I will meet you later after my class.}} \] \[ \boxed{\text{Out of the two books, I prefer the latter.}} \]