Obviously substitute the appropriate file name and file type. Last time I used MSPaint (a very long time ago, it may have changed) it only created bmp files. I believe that these are not part of the web standard but in any event they are very large files. You should convert to jpg format for web use.
Check the spelling of your tag and your file. Image callouts are case sensitive. If you saved a file as Image.jpg then it won't work if you put image.jpg in the tag.