1. **State the problem:** Simplify the expression $24y^2 + 16y$ by factoring. 2. **Recall the factoring formula:** To factor an expression, find the greatest common factor (GCF) of all terms and factor it out. 3. **Find the GCF:** The coefficients are 24 and 16. The GCF of 24 and 16 is 8. Both terms have at least one $y$, so the GCF includes $y$. 4. **Factor out the GCF:** $$24y^2 + 16y = 8y(\cancel{3y} + \cancel{2})$$ Here, we cancel the common factor $8y$ inside the parentheses. 5. **Write the final factored form:** $$8y(3y + 2)$$ This is the simplified factored form of the expression. **Answer:** $8y(3y + 2)$