This is nothing but
$$\sum_{k = 0}^{+\infty} \left(-\frac{1}{3}\right)^k$$
Which is nothing but the geometric series.
The result is
$$\frac{1}{1 + \frac{1}{3}} = \frac{1}{\frac{4}{3}} = \frac{3}{4}$$
Hence the series converges.
Geometric Series
$$\sum_{k = 0}^{+\infty}\ x^k = \frac{1}{1 - x} ~~~~~~~~~~~ \text{for}\ |x| < 1$$
In your case it's simply $x = -1/3$
So you have to change signs by consequence getting:
$$\sum_{k = 0}^{+\infty} \left(-\frac{1}{3}\right)^k = \frac{1}{1 - \left(-\frac{1}{3}\right)}$$
From which the result above.