Just to add as an example: 'Gandalf' is an Old Norse name, but nobody in Middle-earth would have spoken this name or written it anywhere... it is a translation of something, like 'Sam' (another translation) was really called Ban (short version) according to Appendix F.
Old Norse was still a language of the future in Frodo's day -- or that person the translator has named 'Frodo' actually.
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