Well you're tripling or quadrupling your iOS version testing, and opening up many more different devices and resolutions that need to be tested and supported. Also, basic APIs for view controllers, and rotation, and segueing have all changed. Some user interface elements either didn't exist back then, or behaved very differently. Whole APIs for accessing basic things like photos and contacts are now completely different (iOS 9+). So you need to decide to either implement functionality twice, in the old and new APIs, or stick to the old ones that require a lot more work, and can't do everything the new ones can, or maybe your app doesn't need them at all. iOS 6 shows the user interface drastically differently than iOS 7. The recommended language for iOS development is Swift, and it's only supported on iOS 8 and above. I believe there's some way with extra work to use it on iOS 7, but I don't know the details of all of the limitations.
Assuming a sufficiently small app that's doable with one developer and supporting just the current version of iOS, with probably 5 test devices, then that app supporting 4 versions of iOS (7, 8, 9, 10) would probably take 3 developers, one QA, and 17+ devices.
[doublepost=1500755744][/doublepost]Meanwhile Apple just released iOS 10.3.3 that fixed numerous security issues. Anyone running anything older is asking to be hacked and their device compromised. Let alone all the security fixes since iOS 7...