Viewing .jpg files within a cell

I want to understand how a .jpg image file can be "assigned" to or within a cell, so that when the spreadsheet is sorted (by other rows or columns, the .jpg image file moves with that row, retains it formatted “viewing,” and will not change its formatted properties.

I am using Office 2003 Professional, but I will upgrade to Vista, 2007 or whatever to get these images contained.

Once the .jpg image file is formatted with in the properties, I want the .jpg image to retain its image. However, when the spreadsheet is printed, I want to understand how or what will happen to the .jpg image files as being displayed.

Thank you.