When the water balloon hits the ground, its height is zero. Thus, we want to solve for

. Therefore,

.
Since James drops the balloon, we know that its initial velocity is zero. Thus,

.
Since James drops the balloon from a height of 45 m, its initial height is 45 m. Thus,

.
Plugging these numbers into the equation, we get

.
Reducing this equation, we get

, then

. Taking the square root of both sides, we get

and

.
Since t can't be negative,

.