What does Altergott mean in German when translated?

Altergott when translated means "older god" alt means old er means er and gott means god so its older god.

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The German word for older is älter, so older god would be Älterer Gott

When used as a noun, Alter translates as age

When used as an adjective alter translates as old so logically, Altergott would be old god