I want to make something clear: THE BIBLE IS NOT A SCIENCE BOOK, it is a book about God's Salvation History. It is not even a true Historical book to begin with!
That being sad, I agree that the Earth is not only 7,000 years old because that is what scientific evidence suggest. The Bible affirms from Genesis through Revelation that God is the Creator and that everything came into existences through him [off-topic (?) but even if we agree to the scientific explanation of "Evolution", the one thing that we need to bear in mind that God started the process so to speak, in other words there is no reason why, biblically, one can not believe in a "Theistic-Evolution"]
The ancient Hebrew writer is not concerned to give a good or bad scientific account, for he is not interested in science at all! Genesis is primarily focusing on in the creation account revolves around "who" and "why" and not, as modern scientific questions do, around "how" and "when" and "what".
The Old Testament's purpose is NOT to record literal history, but to explain the relationship of God and man. The Bible does not state anything on how old the Earth is, this is not the purpose of the Holy Bible. The word "day" does not necessary mean "24 hours" as that will not make any sense given the chronological order of Genesis on "when" God created "what". Given all this, all scientific evidence points to the fact that Earth is billions of years old. Science CAN [and DOES] agree with Sacred Scriptures. But then again, does this matter? There have been times that I see Christians tearing each other on this subject, as if this is a salvation issue.
Blessings,
Ramon