Would the video card inside still have the fan blowing and appear to be receiving power if it was fried?
Maybe. No one can really tell what the problem is with the information you've presented is the real answer. It could be your motherboard, it could be the card, it could be the pci-e slot, it could be that you or someone else managed to disable the card, it could be that your bios is bad, it could be that god hates you.
Without another video card or a another machine to test your video card in, no one can determine the problem. In terms of probability, the most likely explanation is something is wrong with the card. That's where you are. Unless you can test individual parts somehow, it's impossible to know what's wrong.
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