PHP: using str_replace to create form letter templates

$letter="Dear #title #name, you owe us #amount";

$fields=array("#title","#name","#amount");

$debtors=array(

array("Mr","Cartwright","146.00"),

array("Ms","Yates","1,662.00"),

array("Dr","Smith","84.75")
);

foreach($debtors as $debtor)
{
    print_r($debtor);
}

echo   "<p></p>";

print_r($fields);

echo "<p></p>";

foreach ($debtors as $debtor)
{
    print "<p>".str_replace($fields,$debtor,$letter)."</p>";

}

//Results

Array ( [0] => Mr [1] => Cartwright [2] => 146.00 ) Array ( [0] => Ms [1] => Yates [2] => 1,662.00 ) Array ( [0] => Dr [1] => Smith [2] => 84.75 )

Array ( [0] => #title [1] => #name [2] => #amount )

Dear Mr Cartwright, you owe us 146.00

Dear Ms Yates, you owe us 1,662.00

Dear Dr Smith, you owe us 84.75