To do Alt + N P O F on Mac in Excel, download and install Accelerator Keys, then press Option, followed by N, P, O, and F.
Command: Picture from File (Place over Cells)
This is how to do Alt + N P O F on Mac in Excel with Accelerator Keys, the native ribbon and alt key shortcut solution for Mac users who get more done with Excel.
Alt + N P O F opens a file browser to select an image file to place over cells as a floating picture. The image sits above the worksheet and can be positioned anywhere independently of the cell grid.