Computationally intensive distributed and parallel computing is often bottlenecked by a small set of slow workers known as stragglers. In this paper, we utilize the emerging idea of "coded computation" to design a novel error-correcting-code inspired technique for solving linear inverse problems under specific iterative methods in a parallelized implementation affected by stragglers. Example applications include inverse problems in machine learning on graphs, such as personalized PageRank and sampling on graphs. We provably show that our coded-computation technique can reduce the mean-squared error under a computational deadline constraint. In fact, the ratio of mean-squared error of replication-based and coded techniques diverges to infinity as the deadline increases. Our experiments for personalized PageRank performed on real systems and real social networks show that this ratio can be as large as $10^4$. Further, unlike coded-computation techniques proposed thus far, our strategy combines outputs of all workers, including the stragglers, to produce more accurate estimates at the computational deadline. This also ensures that the accuracy degrades "gracefully" in the event that the number of stragglers is large.