Try this:
•From the Drawing Toolbar, create an empty Textbox
•Right click on the Textbox and select Format Textbox
•Select the Colors and Lines tab
•click the Fill Color dropdown and select Fill Effects
•Click the Picture tab
•Select a picture and click [OK] to return to the Colors and Lines tab
•Set Transparency to around 75%
•Click OK
That should create a box with a semi transparent picture that allows cell
contents to be displayed through it.
Try inserting an image (e.g. jpeg) in background (Format...Sheet...Background)
It repeats though, and depending on its size, may be a bit distracting or
disjoint.
You have to add it to the header or footer in order for it to print.
In Excel 2010:
Insert Tab
Header & Footer
Then in Header & Footer Tools, choose Picture
It will just center it on the page, so you'll have to get it the size you want before adding the picture. It's also affected by the print scale, which is in the Page Layout tab on the ribbon.
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