Well, let's make a mathematical closed solution. I know that this is maybe above the OP's knowledge, but I think it is important to show it in combination with the other answers given.
The Shockley diode equation, gives the relation between the voltage across and the current trough a diode:
$$\text{I}_\text{D}=\text{I}_\text{S}\left(\exp\left(\frac{\text{q}\text{V}_\text{D}}{\eta\text{k}\text{T}}\right)-1\right)\tag1$$
We are trying to analyze the following circuit:
simulate this circuit – Schematic created using CircuitLab
When we use and apply KCL, we can write the following set of equations:
$$\text{I}_3=\text{I}_1+\text{I}_2\tag2$$
When we use and apply Ohm's law, we can write the following set of equations:
$$
\begin{cases}
\text{I}_1=\frac{\text{V}_1-\text{V}_3}{\text{R}_1}\\
\\
\text{I}_2=\frac{\text{V}_2-\text{V}_3}{\text{R}_2}\\
\\
\text{I}_3=\text{I}_\text{S}\left(\exp\left(\frac{\text{q}\text{V}_3}{\eta\text{k}\text{T}}\right)-1\right)
\end{cases}\tag3
$$
Substitute \$(3)\$ into \$(2)\$, in order to get:
$$\text{I}_\text{S}\left(\exp\left(\frac{\text{q}\text{V}_3}{\eta\text{k}\text{T}}\right)-1\right)=\frac{\text{V}_1-\text{V}_3}{\text{R}_1}+\frac{\text{V}_2-\text{V}_3}{\text{R}_2}\tag4$$
For the LED, let's use parameters taken from a Luminus PT-121-B LED: \$\eta=8.37\$, and \$\text{I}_\text{S}=435.2\:\text{nA}\$. (Assume \$\text{V}_\text{T}:=\frac{\text{kT}}{\text{q}}=\frac{8094745087}{320435326800}\approx0.0252617\:\text{V}\$, of course.)
Using the known values, we find:
- $$\text{V}_3\approx1.60818\space\text{V}\tag5$$
- $$\text{I}_3\approx0.000874272\space\text{A}\tag6$$
I used Mathematica to find it, with the following code:
In[1]:=Clear["Global`*"];
q = ((1602176634/(10^9)))*10^(-19);
k = ((1380649/(10^6)))*10^(-23);
T = 20 + ((5463)/20);
Is = (4352/10)*10^(-9);
\[Eta] = 837/100;
V1 = 2;
V2 = 5;
R1 = 2*1000;
R2 = 5*1000;
FullSimplify[
Solve[{I3 == I1 + I2, I1 == (V1 - V3)/R1, I2 == (V2 - V3)/R2,
I3 == Is*(Exp[(q*V3)/(\[Eta]*k*T)] - 1),
I1 > 0 && I2 > 0 && I3 > 0 && V3 > 0}, {I1, I2, I3, V3}]]
Out[1]={{I1 -> (-46909 + (
131741976290925 ProductLog[(
387370706176 E^(1780583630706176/131741976290925))/
131741976290925])/11393256064)/109375000,
I2 -> 234307/546875000 + (
752811293091 ProductLog[(
387370706176 E^(1780583630706176/131741976290925))/
131741976290925])/17801962600000000,
I3 -> (17 (-1 + (
131741976290925 ProductLog[(
387370706176 E^(1780583630706176/131741976290925))/
131741976290925])/387370706176))/39062500,
V3 -> 312568/109375 - (
752811293091 ProductLog[(
387370706176 E^(1780583630706176/131741976290925))/
131741976290925])/3560392520000}}
In[2]:=N[%1]
Out[2]={{I1 -> 0.000195909, I2 -> 0.000678363, I3 -> 0.000874272,
V3 -> 1.60818}}
Note: when we use the voltage drop of \$0.7\space\text{V}\$ and the characteristics of the Luminus PT-121-B LED at room temperature on the Shockley diode equation, we get the following current flow trough the diode:
$$\text{I}_3=\text{I}_\text{S}\left(\exp\left(\frac{\text{q}\cdot\frac{7}{10}}{\eta\text{k}\text{T}}\right)-1\right)=$$
$$\frac{17}{39062500}\cdot\left(\exp\left(\frac{2492274764000}{752811293091}\right)-1\right)\approx0.0000114902\space\text{A}\tag7$$