dgsmith222 , start with what Apple suggest. "LED #4
Indicates that the computer and the LCD display panel are communicating. This LED will be • ON when the computer is turned on and video signal is being generated. If the LED is ON and there is no image on the LCD display panel, the LCD display panel or inverter might be installed incorrectly or need replacement."
No Video, No Boot Chime
The computer will turn on, but there is no boot chime and no video on the display. The faint sound of the fans, hard drive, and optical drive may also be heard.
1. Make sure all software updates have been applied to the computer. Refer to KBase article 303903, Intel-based iMac: Installing available updates , and to Apple Downloads for updates for the iMac (Mid 2007) model of computers.
2. Follow instructions in the “General Information” chapter to reset the SMC. Does the computer display video after successfully resetting the SMC?
Yes: Problem solved.
No: Continue to next step.
3. Verify that only supported SDRAM memory has been installed and that it has been installed correctly. Unsupported and/or defective memory can prevent the computer from booting. It may be necessary to install known good memory for testing purposes and replace any unsupported or defective SO-DIMM’s identified during this process. Does the computer display video after verifying and/or replacing the memory with known good memory?
Yes: Problem solved. Verify full system functionality before return the system to the customer.
No: Replace the logic board.
Yes, it is possible this could be caused by a bad PSU. but you will have to take a close look at it. Up to that point it will be strictly academics. Hope this helps, good luck.
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Do you get 3 LED lights and a restart on its own, then it gives 3 LED lights and stays on?
by mayer