1600/2=800 2 rows at 2" finished
800/2=400, 4 rows
400/2=200, 8 rows
200/2=100, 16 rows
100/2=50, 32 rows.
The quilt is now 50x64 without borders. so, with a 2" border, you need (if butting and not mitering) 2 pieces at 2.5"x64 plus 2 at 2.5" (unfinished)x54 about 236" total, or seven strips to allow a tad extra in case you want to join the strips on the bias (I do this) 2.5" strips cut WOF for a total of 1/2 yard of fabric (with room for error). (estimating 40" usable fabric in the WOF)
for the second border, the quilt will be 54x68. for the 3" border, you need (again, if butting and not mitering) 2 pieces at 3.5x68 and 2 at 3.5x60, about 256" total, or seven strips for a total of 1/2 yard fabric.
Hope this helps. Happy holidays!