The greatest common factor (GCF) of 24 and 16 can be found by identifying the factors of each number.
The factors of 24 are:
1, 2, 3, 4, 6, 8, 12, 24
The factors of 16 are:
1, 2, 4, 8, 16
The common factors are:
1, 2, 4, 8
The greatest of these common factors is 8.
Therefore, the GCF of 24 and 16 is 8.