Answer
$a_1=24
\\a_2=8
\\a_3=\frac{8}{3}
\\a_4=\frac{8}{9}
\\a_5=\frac{8}{27}$
Work Step by Step
Multiply the common ratio to get the next term to obtain:
$a_1=24
\\a_2=24(\frac{1}{3}) = 8
\\a_3=8(\frac{1}{3})=\frac{8}{3}
\\a_4=\frac{8}{3}(\frac{1}{3})=\frac{8}{9}
\\a_5=\frac{8}{9}(\frac{1}{3}) = \frac{8}{27}$