Volvo: flashing over drive arrow and check engine on dash, volvo 850 glt, 1995 volvo 850 glt

Question
Question
I just got this 1995 Volvo 850-GLT and it is great but, today the overdrive arrow came on and is flashing and also the check engine indicator is on my dash and button near the shifter marked W , S and E are flashing. the car is a little more sluggish starting from stop now feel like the transmission is slipping. what has gone
wrong if anything? How much should I expect to pay for service.
thank you,
Mark

Answer
Mark,
That flashing arrow means there is a fault code in the control unit. Check engine light might be on due to fault in the trans. Get to a Volvo shop have the codes read, let me know what faults there area so I can price it. Checking the codes should run about 1 hour of the shops labor rate.