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No power when pressing the gas 700 1988

Hello. My husband used to post here when he would encounter a problem with our 88 740 Turbo. But he is now deployed, and I need some answers, if anyone has them.
I was driving home from the market, turned down our street, and when I pressed on the gas pedal to accelerate, I had no power. The RPM's wouldn't move, ditto on the turbo. I only coasted. Once I stopped in a parking lot, I tried the car in Reverse, same thing, it would coast, but no power. It starts and idles fine. But if you want to go....forget it. I had it towed to the Volvo place we normally use, but they're not going to be open until Tuesday. I was wondering if anyone here had an idea as to what this problem might be? And if so, a price range of something like this? Thanks!






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