Elimination is first-order: C(t) = C₀·(½)^(t/t½). Concentration halves every half-life, no matter how high it started.
Dose again before the residual clears and the new peak stacks on what's left. After roughly 4–5 half-lives of regular dosing, intake balances elimination and the curve stops climbing — it oscillates around a steady-state plateau.
How much it accumulates is the accumulation ratio R = 1 / (1 − ½^(τ/t½)), where τ is the interval. When τ equals the half-life, R = 2: you plateau at twice a single dose's reach.