Error:compileSdkVersion android-21 requires compiling with JDK 7

The Exact Fix for this Issue (Android Studio Users on Mac)

If you have already upgraded to Java 8, please note that the JDK location is now within /Library/Java compared to Java 6’s location /System/Library/Java. So to fix this problem, Right click on the Project folder > Project Structure > SDK Location.

Then change JDK location to

/Library/Java/JavaVirtualMachines/jdk1.8.0_25.jdk/Contents/Home

If you have installed a different JDK version (other than Java 8), find out the path using the java_home script first and use the output. Just run,

/usr/libexec/java_home 

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