Or you can do it completely geometrically- the shortest distance from a point to a line is along the line, through the point, perpendicular to the given line.
y= 4x+ 7 has slope 4. A line perpendicular to it will have slope -1/4. What is the equation of a line, through (0, 0), with slope -1/4? Where does that line intersect y= 4x+ 7?