Answer:
 3
Explanation:
The diagram shows the answer: 3 pictures will fit vertically.
You can solve this algebraically as well. For n pictures, there will be n-1 spaces, so the total height of the page must satisfy ...
 1 + 3n + 1/2(n -1) + 1 ≤ 12
 3.5n + 1.5 ≤ 12 . . . . . . . . . . . simplify
 3.5n ≤ 10.5 . . . . . . . . . . . . . .subtract 1.5
 n ≤ 3 . . . . . . . . . . . . . . . . . . . divide by 3.5
Up to 3 pictures will fit in a column.