For the sequence 8, 16, 32, 64 would the nth term be 4 * 2^n or 2^(n+2) ?

Both are a valid statement based on the given information - and in fact are equivalent.

edit: Explanation based on laws of exponent: 2^(2+n) = 2^(2)×2^(n) = 4×2^(n).
Those expressions are equivalent

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