My for loop is not pausing.

Hi have you any idea how to stop a for loop for a few seconds coz i tried it with number of ways and all in vain.
here is my code.

<script language="javascript">
   for(i=1;i<=3;i++){
     window.setTimeout("alert('Alert for Time " + i  + "')",2000);
   }
</script>

Code (markup):

 

Interesting, I was able to do it like this.

<script language="javascript">
var c=0;
timeout()
function timeout()  {
alert(c);
c=c+1;
setTimeout("timeout()",2000);
}
</script>

Code (markup):