Step 1: Identify the complex number z, which is given as z = 2 + 2i.
Step 2: Recall that the magnitude (or modulus) of a complex number z = a + bi is given by |z| = sqrt(a^2 + b^2), where a is the real part and b is the imaginary part.
Step 3: In our case, a = 2 and b = 2.
Step 4: Calculate a^2, which is 2^2 = 4.
Step 5: Calculate b^2, which is also 2^2 = 4.
Step 6: Add the results from Step 4 and Step 5: 4 + 4 = 8.
Step 7: The value of |z|^2 is equal to the sum from Step 6, which is 8.
